This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
As Binance conducts regular reviews of its product offerings to focus on products that can provide users with the most value and competitive services, Binance will cease support for Binance Leveraged Tokens (BLVT) by 2024-04-03 06:00 (UTC).
Trading and subscription services for all BLVTs will be suspended at 2024-02-28 06:00 (UTC). Binance will then delist and cease redemption for these BLVTs, as per the table below.
Each BLVT represents a basket of perpetual contract positions and are designed for short-term trading. BLVTs are rebalanced daily and are not a replacement for margin leveraged products. Refer to this blog for more information.
Please Note:
At 2024-02-28 06:00 (UTC), all trade orders for the aforementioned BLVTs will be automatically removed and users will no longer be able to place any orders.
Users are advised to trade the aforementioned BLVTs for other tokens prior to the scheduled trading cessation time. If users are still holding any aforementioned BLVTs after 2024-02-28 06:00 (UTC), they may still redeem the BLVTs via the wallet function or the BLVT page before their respective delisting times.
If users are still holding the aforementioned BLVTs after the respective delisting time, Binance will convert these BLVTs to USDT based on the corresponding net asset value (NAV) at the time of delisting, and will distribute the USDT tokens to users’ accounts within 24 hours of delisting. After the distribution is completed, the aforementioned BLVTs will be removed from users’ wallets.
There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-02-19
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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.
