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Binance Will List Polkadot (DOT) & Support 1:100 Redenomination Plan
Binance
2020-08-18 13:31
Fellow Binancians,
Binance will list Polkadot (DOT) and open trading for DOT/BTC, DOT/BNB and DOT/BUSD and DOT/USDT trading pairs at 2020/08/18 11:00 PM (UTC).
Users will be able to start depositing DOT after Polkadot block #1,205,128 (approximately 2020/08/18 4:40 PM (UTC)) in preparation for trading.
DOT Listing Fee: 0 BNB.
Important notes
  • DOT transfers on the Polkadot network will be enabled at block #1,205,128, currently estimated to occur approximately 2020/08/18 4:40 PM (UTC).
  • Based on Polkadot’s first stakeholder vote, all DOT tokens will be redenominated by a factor of 100 at block #1,248,328, estimated to occur at 2020/08/21 4:40 PM (UTC).
  • To support the redenomination plan, all DOT deposits made to Binance after block #1,205,128 will be multiplied by a coefficient of 100. For example, if a user deposits 10 DOT, they will be credited with 1,000 DOT to their account.
  • All users that already successfully claimed their DOT tokens directly on Binance will also have their balances multiplied by a coefficient of 100 prior to trading.
  • Given the above, the DOT tokens traded on Binance will only be the post-redenominated DOT tokens.
  • DOT withdrawals will open after the redenomination occurs at block #1,248,328, when we determine the redenominated network to be stable.
  • Only DOT deposits made between block #1,205,128 and block #1,248,328 will be multiplied by a coefficient of 100.
What price is DOT expected to be on Binance given the redenomination?
With the current market price of pre-redenominated DOT at approximately $370 USD, the market price of post-redenominated DOT on Binance may be around $3.70 USD, assuming the price does not change.
Please ensure that you undertake sufficient risk assessment when trading newly listed tokens, as they are often subject to high price volatility.
Details:
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.
Thanks for your support!
Binance Team
2020/08/18
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