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Binance Will Delist SNM, SRM and YFII on 2023-08-22

Binance Will Delist SNM, SRM and YFII on 2023-08-22

2023-08-15 07:01

This is a general announcement. Products and services referred to here may not be available in your region.

Fellow Binancians,

At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all our users.

When we conduct these reviews, we consider a variety of factors. Here are some that drive whether we decide to delist a digital asset:

  • Commitment of team to project

  • Level and quality of development activity

  • Trading volume and liquidity

  • Stability and safety of network from attacks

  • Network / smart contract stability

  • Level of public communication

  • Responsiveness to our periodic due diligence requests

  • Evidence of unethical/fraudulent conduct or negligence

  • Contribution to a healthy and sustainable crypto ecosystem

Based on our most recent reviews, we have decided to delist and cease trading on all trading pairs for the following tokens at 2023-08-22 03:00 (UTC):

  • Sonm (SNM)

  • Serum (SRM)

  • DFI.Money (YFII)

Please note:

  • The exact trading pairs being removed are: SNM/BTC, SNM/BUSD, SRM/BUSD, YFII/USDT

  • All trade orders will be automatically removed after trading ceases in each respective trading pair.

  • To view your assets after trading ceases, please ensure you have not selected “Hide small assets” in your Funds page.

  • Deposits of these tokens after 2023-08-23 03:00 (UTC) will not be credited to your account. 

  • Withdrawals of these coins and tokens from Binance will not be supported after 2023-11-22 03:00 (UTC).

  • Delisted tokens may be converted into stablecoins on behalf of users after 2023-11-22 03:00 (UTC). Please note that the conversion of delisted tokens into stablecoins is not guaranteed. A separate notification will be made before the conversion where applicable, and the stablecoins will be credited to users’ Binance accounts after the conversion. 

  • Binance Simple Earn will delist the token(s) mentioned above at 2023-08-21 06:00 (UTC). Users may choose to redeem their Flexible Product positions beforehand. Otherwise, these Flexible Product positions will be automatically redeemed at the above-mentioned time, and subsequently transferred to users’ Spot Wallets. 

  • Binance Loans (Flexible Rate) will close all outstanding loan positions for the token(s) mentioned above at 2023-08-18 06:00 (UTC). Users are strongly advised to repay these loans before 2023-08-18 06:00 (UTC) to avoid any potential losses. 

  • Binance Gift Card will delist the token(s) mentioned above at 2023-08-22 03:00 (UTC). Users are advised to manage gift cards containing these token(s) in advance to avoid any inconveniences.

  • Binance Pay will delist the token(s) mentioned above at 2023-08-22 03:00 (UTC).

  • Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2023-08-22 03:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.

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

We thank you for your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth.

Thanks for your support!

Binance Team

2023-08-15

Note: This announcement was updated on 2023-11-24 to clarify that the conversion of delisted tokens into stablecoins is not guaranteed. 

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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 are subject to high market risk and price volatility. 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. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.