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Binance to Delist and Cease Redemption for XRPUP and XRPDOWN Leveraged Tokens (2023-07-25)

Binance to Delist and Cease Redemption for XRPUP and XRPDOWN Leveraged Tokens (2023-07-25)

2023-07-11 09:00

Fellow Binancians,

Binance will delist and cease redemption for XRPUP and XRPDOWN leveraged tokens at 2023-07-25 06:00 (UTC).

Notes: 

  • Users are advised to redeem their leveraged tokens via the wallet function or the Leverage Tokens page before the delisting. If users are still holding these leveraged tokens after the delisting time, Binance will convert these tokens to USDT based on the net asset value (NAV) of the tokens at the time of delisting, and will distribute the USDT tokens to users’ accounts within 24 hours. After the distribution is complete, the leveraged token assets will be removed from the wallet.

  • Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.

Thanks for your support!

Binance Team

2023-07-11

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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.

Disclaimer: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Binance Leveraged Tokens (BLVT) are designed for short-term investments only. Long-term holding of BLVT is subject to additional downside risk. Note that BLVT is NOT a replacement for a margin-leveraged position and does not behave in the same way. Past performance is not a reliable predictor of future performance. Before purchasing BVLT, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use and Risk Warning.