Binance has completed the swap process of Frontier (FRONT) to Self Chain (SLF) tokens, rebranding the tokens. However, the move has drawn criticism from the community due to the significant increase in the total token supply, from 90 million to 360 million. Despite this, the swap ratio remains the same: 1 FRONT = 1 SLF, a scenario that has resulted in a 75% dilution of the value held by users relative to the total supply.
The token exchange was carried out automatically for all FRONT holders at a 1 to 1 ratio.
Binance has provided customers with the ability to check the SLF distribution history on the platform. In addition, “users can obtain their own deposit addresses for new digital assets that were assigned during the exchange,” the exchange’s website states.
The situation has sparked heated discussions on social media, with many holders believing that the sudden and large-scale change in token parameters, which led to a significant decrease in their value, was the wrong decision. At the same time, Binance emphasizes that all actions were taken in accordance with the stated terms and that users can check the distribution history for more detailed information.
Despite the criticism, Binance continues to provide support to users who want to complete the exchange process or learn more about their new SLF tokens. However, the user dissatisfaction highlights the importance of transparency and clarity when conducting such transactions in the crypto space.
