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Binance Will Support the Polymath (POLY) Mainnet Swap and Rebranding Plan to Polymesh (POLYX)

2022-09-26 09:00
Fellow Binancians,
Binance will support the Polymath (POLY) mainnet swap and rebranding plan to Polymesh (POLYX).
Timeline:
  • At 2022-09-28 03:00 (UTC), Binance will suspend POLY/USDT, POLY/BUSD, and POLY/BTC isolated margin borrowing.
  • At 2022-10-05 03:00 (UTC), we will close all POLY margin positions, conduct an automatic settlement and cancel all pending POLY margin orders. We will then delist the POLY/USDT, POLY/BUSD, and POLY/BTC isolated margin trading pairs.
    • A separate announcement will be made for relisting.
    • Users are strongly advised to close their positions prior to the cessation of margin trading to avoid any potential losses.
  • At 2022-10-10 03:00 (UTC), Binance will delist all existing POLY spot trading pairs (POLY/USDT, POLY/BUSD, and POLY/BTC) and cancel all pending POLY spot trade orders. In addition, Binance will remove POLY from the list of supported cryptocurrencies on Binance Pay.
  • Binance Simple Earn has ceased support for POLY, and subscriptions to POLY Flexible Products are no longer available. POLY balances in Simple Earn Flexible Products will be automatically redeemed and credited to users’ spot wallets before 2022-10-10 03:00 (UTC).
  • At 2022-10-10 03:30 (UTC), deposits and withdrawals of POLY will be suspended. Please ensure that you leave sufficient time for your POLY deposits to be fully processed prior to this time.
  • At 2022-10-10 08:00 (UTC), Binance will no longer support the creation of POLY Gift Cards.
    • While users may proceed to redeem any unredeemed POLY Gift Cards for POLY before 2022-10-10 08:00 (UTC), please note that the redeemed tokens will be subject to automatic conversion to POLYX before 2022-10-17 08:00 (UTC).
    • After 2022-10-17 08:00 (UTC), all unredeemed POLY Gift Cards will be automatically converted to POLYX upon redemption.
  • At 2022-10-17 08:00 (UTC), trading will open for POLYX/USDT, POLYX/BUSD, and POLYX/BTC spot trading pairs. Binance will also add POLYX to the list of supported cryptocurrencies on Binance Pay.
Details of Token Swap:
  • Binance will recover all POLY balances, and begin the distribution of POLYX to all eligible users at a ratio of 1 POLY = 1 POLYX before spot trading for POLYX/USDT, POLYX/BUSD, and POLYX/BTC trading pairs are open.
  • Binance will make a separate announcement after the mainnet swap is complete to notify users when deposits and withdrawals of POLYX will be opened.
  • Polymesh (POLYX) asset information on the Polymesh Mainnet:
    https://polymesh.subscan.io/assets
For further information, please refer:
Thanks for your support!
Binance Team
2022-09-26
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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.
Risk Warning: Digital asset prices are subject to high market risk and price volatility. The value of your investment can 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.