This is a routine announcement and the products and services discussed in this announcement may not be available in your area.
Dear User:
Binance regularly reviews products to provide users with more valuable and advantageous products and services. Based on the latest review, Binance will stop supporting Leveraged Tokens services at 14:00 (ET) on April 3, 2024.
Binance will stop trading and purchasing leveraged tokens at 14:00 (UTC) on February 28, 2024, and will subsequently terminate redemption services and delist leveraged tokens. The specific timeline is shown in the table below:
Each leveraged token represents a basket of perpetual contract positions and is intended for short-term investment only. Leveraged tokens are rebalanced daily and cannot replace margin leveraged products. For more information, please refer to the blog.
Please note:
Binance will automatically remove all pending orders for the above leveraged tokens after trading stops at 14:00 (ET) on February 28, 2024, and users will no longer be able to place orders.
It is recommended that users exchange the leveraged tokens they hold for other tokens in advance. If users still hold the leveraged tokens after trading stops at 14:00 on February 28, 2024 (GMT+8), please redeem them through the wallet page or the Leveraged Tokens page before the delisting time;
If users still hold the above leveraged tokens after the corresponding delisting time, Binance will convert them into an equivalent amount of USDT based on the corresponding net asset value (NAV) of the leveraged tokens at the time of delisting, and distribute USDT tokens to user accounts within 24 hours. After the distribution is completed, the above leveraged token assets will be removed from the wallet;
There may be discrepancies between the original English version and the translated version. If there are any discrepancies, please refer to the original English version for the latest or most accurate information.
Thank you for your support!
Binance Team
February 19, 2024