After careful consideration and discussion with the COVER Protocol team, Binance will delist the old COVER token and distribute the new COVER token based on a snapshot of user balances at a ratio of 1 COVER-old = 1 COVER-new. The COVER Protocol team has yet to confirm the final ETH block that will be used for the snapshot. However, they have stated here that it will be before ETH block 11541219 (2020/12/28 8:11:16 AM (UTC)).
- We will make a separate announcement once the final ETH block used for the snapshot is confirmed by the COVER Protocol team, as well as when the distribution of the new COVER tokens is completed based on this snapshot.
- Withdrawal for the old COVER tokens will remain open.
- We will determine whether or not to open trading for COVER-new at a later date.
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