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Binance Will Support the bZx Protocol Token (BZRX) Token Swap & Redenomination Plan to OokiDAO Token (OOKI)

2021-12-16 13:30
Fellow Binancians,
Binance will support the bZx Protocol Token (BZRX) token swap and redenomination plan to OokiDAO Token (OOKI). Further details about this change are shown in the timeline below:
  • Deposits and withdrawals of bZx Protocol Token (BZRX) will be suspended at 2021-12-20 02:00(UTC). Please ensure that you leave sufficient time for your BZRX deposits to be fully processed prior to this time.
  • Binance will delist all existing BZRX spot trading pairs (BZRX/BTC, BZRX/USDT, and BZRX/BUSD) and cancel all pending BZRX spot orders at 2021-12-20 04:00 (UTC).
  • At 2021-12-16 13:00 (UTC), Binance will suspend BZRX/BTC, BZRX/USDT and BZRX/BUSD isolated margin borrowing.
  • At 2021-12-19 02:00 (UTC), we will close all BZRX margin positions, conduct an automatic settlement and cancel all pending BZRX margin orders, and then delist the BZRX/BTC, BZRX/USDT and BZRX/BUSD isolated margin trading pairs. A separate announcement will be made for relisting.
  • At 2021-12-16 13:00 (UTC), Binance will adjust the maximum leverage for the BZRX/USDT futures contracts to 25x. Please note that existing positions will not be affected. For further details please refer to Leverage and Margin of USDT Futures Contracts and the Trading Rules page.
  • At 2021-12-19 02:00 (UTC), Binance Futures will close all BZRX futures positions, conduct an automatic settlement and cancel all pending orders on BZRX/USDT futures contracts, and then delist these contracts. Please refer to the Delisting Process of Futures Contracts for more details. A separate announcement will be made for relisting. Please be aware that in the event of extreme price movement or deviation from the index price, Binance will undertake additional protective measures, including but not limited to changing the constituents of the price index and using the Last Price Protected mechanism to update the Mark Price. For further details, please refer to the Price Index.
  • Following which, we will recover all BZRX balances and begin the distribution of OOKI to all eligible users at a ratio of 1 BZRX = 10 OOKI.
  • Trading will then open for OOKI/USDT and OOKI/BUSD spot trading pairs at 2021-12-24 04:00 (UTC).
  • Binance will make a separate announcement after the token swap is completed to notify users when deposits and withdrawals of OOKI will be opened.
  • Thereafter, users will be able to use the convert function to swap their BZRX for OOKI tokens.
  • New ERC-20 token contract (OOKI): 0x0De05F6447ab4D22c8827449EE4bA2D5C288379B
Please note:
  1. Existing BZRX token holders’ percentage of ownership of the total token supply will be diluted, as the bZx Protocol DAO has voted to mint additional 23 million BZRX as part of the token swap in order to finance the token buyback of BGOV and PGOV tokens.
  2. The additional OOKI tokens will be transferred to the bZx Protocol DAO Treasury when the token swap is complete.
For further information, please refer to the following:
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
2021-12-16
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Note: This announcement was updated on 2021-12-17 to clarify details.
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.