Exchange Announcement Tracking

Feb 19,2024
Binance: An update on Binance's Leverage Token service This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, As Binance conducts regular reviews of its product offerings to focus on products that can provide users with the most value and competitive services, Binance will cease support for Binance Leveraged Tokens by 2024-04-03 06:00 (UTC).  Trading and subscription services for all leveraged tokens will be suspended at 2024-02-28 06:00 (UTC). Binance will then delist and cease redemption for these leveraged tokens, as per the table below. Binance Leveraged Token PairsCessation Time for Trading & Subscription ServicesDelisting & Redemption Cessation TimeBNBUP/USDT2024-02-28 06:00 (UTC)2024-04-01 06:00 (UTC)BNBDOWN/USDTETHUP/USDT2024-04-02 06:00 (UTC)ETHDOWN/USDTBTCUP/USDT2024-04-03 06:00 (UTC)BTCDOWN/USDT Each leveraged token represents a basket of perpetual contract positions and are designed for short-term trading. Leveraged tokens are rebalanced daily and are not a replacement for margin leveraged products. Refer to this blog for more information. Please Note:  At 2024-02-28 06:00 (UTC), all trade orders for the aforementioned leveraged tokens will be automatically removed and users will no longer be able to place any orders.Users are advised to trade the aforementioned leveraged tokens for other tokens prior to the scheduled trading cessation time. If users are still holding any aforementioned leveraged tokens after 2024-02-28 06:00 (UTC), they may still redeem the tokens via the wallet function or the Leveraged Tokens page before their respective delisting times.If users are still holding the aforementioned tokens after the respective delisting time, Binance will convert these tokens to USDT based on the corresponding net asset value (NAV) at the time of delisting, and will distribute the USDT tokens to users’ accounts within 24 hours of delisting. After the distribution is completed, the aforementioned leveraged tokens will be removed from users’ wallets.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise. Thank you for your support! Binance Team 2024-02-19 Original link:
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