Binance Will Support the GXChain (GXS) Mainnet Swap & Redenomination Plan to REI Network (REI)
Binance will support the GXChain (GXS) mainnet token swap and redenomination plan to REI Network (REI). Further details about this change are shown in the timeline below:
- At 2022-04-20 04:30 (UTC), Binance will suspend GXS/BTC and GXS/USDT isolated and cross margin borrowing.
- At 2022-04-22 04:30 (UTC), Binance will close all GXS margin positions, conduct an automatic settlement and cancel all pending GXS margin orders, and then delist the GXS/BTC and GXS/USDT isolated and cross margin trading pairs. A separate announcement will be made for relisting.
- Binance will delist all existing GXS spot trading pairs (GXS/BTC, GXS/USDT, GXS/BNB and GXS/ETH) and cancel all pending GXS spot orders at 2022-04-25 04:00 (UTC).
- Deposits and withdrawals of GXChain (GXS) will be suspended at 2022-04-25 04:30 (UTC). Please ensure that you leave sufficient time for your GXS deposits to be fully processed prior to this time.
- Following which, Binance will recover all GXS balances and begin the distribution of REI to all eligible users at a ratio of 1 GXS = 10 REI.
- Trading will then open for REI/USDT, REI/BNB and REI/ETH spot trading pairs at 2022-05-04 04:00 (UTC).
- Binance will make a separate announcement after the mainnet swap is complete to notify users when deposits and withdrawals of REI will open.
- Thereafter, users will be able to use the convert function to swap their GXS for REI tokens.
For further information, please refer to the following:
- Governance Proposal: From GXChain 2.0 to REI Network
- REI: The Reborn of GXChain Starts with Native Token Split + Ecosystem Incentive + EVM Compatible
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.
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Note: This announcement was last updated on 2022-04-22.
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.