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Binance Will Support the Phoenix Global (PHB) Token Migration & Redenomination Plan

Binance Will Support the Phoenix Global (PHB) Token Migration & Redenomination Plan

2021-10-29 07:23
Fellow Binancians,
Binance will support the Phoenix Global (PHB) token migration & 100:1 redenomination plan. Further details about this change are shown on the timeline below:
  • Deposit and withdrawal of PHB (BEP20, BEP2, NEO) will be suspended at 2021-11-01 02:00 (UTC). Please ensure that you leave sufficient time for your PHB deposits to be fully processed prior to this time.
  • Binance will delist all existing PHB spot trading pairs (PHB/BTC and PHB/TUSD) at 2021-11-01 04:00 (UTC) and pending trade orders will be cancelled.
  • Binance will recover all PHB balances and begin the distribution of new PHB to all eligible users at a ratio of 100 PHB (Old) = 1 PHB (New).
  • After the token migration, the old PHB tokens will be renamed as PHBv1, and the new PHB tokens will assume the PHB ticker with the same logo.
  • Trading will then open for PHB/BTC and PHB/TUSD spot trading pairs at 2021-11-05 04:00 (UTC).
  • Binance will make a separate announcement after the token swap is completed to notify users when deposits and withdrawals of new PHB will be opened.
  • Thereafter, Binance will support the new PHB (BEP20). Users will be able to use the convert function to swap their PHBv1 (BEP20, BEP2, NEO) for new PHB (BEP20) tokens.
  • New PHB (BEP20) contract address: 0x0409633A72D846fc5BBe2f98D88564D35987904D
For further information, please refer to the following: Phoenix Global — Token Redenomination, NEO Decommission, and Restaking
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that Binance is not responsible for your trading losses.
Thanks for your support!
Binance Team
2021-10-29
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.