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Binance Will Support the BinaryX (BNX) Token Swap and Redenomination Plan

Binance Will Support the BinaryX (BNX) Token Swap and Redenomination Plan

2023-02-10 04:30
Fellow Binancians,
Binance will support the BinaryX (BNX) token swap and redenomination plan.
Timeline:
  • At 2023-02-10 14:00 (UTC), Binance Simple Earn will cease support for BNX Flexible Products, and subscriptions will no longer be available.
    • For existing subscriptions, BNX balances in Simple Earn Flexible Products will be automatically redeemed and credited to users’ spot wallets before 2023-02-13 06:00 (UTC).
    • Users may also choose to redeem their assets from BNX Flexible Products anytime before 2023-02-13 06:00 (UTC).
  • At 2023-02-10 14:00 (UTC), Binance Futures will suspend trading for the USDT-Margined BNX Perpetual Contract. Please note that users are allowed to close any existing positions after this time.
    • At 2023-02-11 04:00 (UTC), Binance Futures will close all positions, conduct an automatic settlement and cancel all pending orders on the USDT-Margined BNX Perpetual Contract, and delist this contract after the settlement is complete.
    • Users are advised to close any open positions prior to 2023-02-11 04:00 (UTC) to avoid automatic settlement. Please refer to the delisting process of futures contracts for more details.
    • A separate announcement will be made for relisting. Binance Futures may undertake additional protective measures, including but not limited to adjusting the margin tiers including maximum leverage value, position value and maintenance margin in each tier, updating the funding rates including the interest rate, premium, capped funding rate and settlement frequency, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price.
  • At 2023-02-12 03:00 (UTC), Binance will suspend BNX/USDT, BNX/BTC and BNX/BUSD isolated margin borrowing.
    • At 2023-02-14 03:00 (UTC), we will close all BNX margin positions, conduct an automatic settlement and cancel all pending BNX margin orders. We will then delist the BNX/USDT, BNX/BTC and BNX/BUSD 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 2023-02-15 03:00 (UTC), Binance will no longer support the creation of BNX Gift Cards.
    • While users may proceed to redeem any unredeemed BNX Gift Cards for BNX before 2023-02-16 03:00 (UTC), please note that the redeemed tokens will be subject to automatic conversion to new BNX tokens.
    • After 2023-02-16 03:00 (UTC), all unredeemed BNX Gift Cards will be automatically converted to new BNX tokens upon redemption.
  • At 2023-02-16 03:00 (UTC), Binance will suspend and delist all existing BNX spot trading pairs (i.e., BNX/BTC, BNX/BNB, BNX/BUSD and BNX/USDT) and cancel all pending BNX spot trade orders.
    • At 2023-02-16 03:00 (UTC), Binance will terminate strategy trading services for the aforementioned spot trading pairs, where applicable.
    • Users are strongly advised to update and/or cancel their trading strategies prior to the cessation of strategy trading services to avoid any potential losses.
  • At 2023-02-16 03:00 (UTC), Binance will remove BNX from the list of supported cryptocurrencies on Binance Pay.
  • At 2023-02-16 03:30 (UTC), deposits and withdrawals of BNX will be suspended. Please ensure that you leave sufficient time for your BNX deposits to be fully processed prior to this time.
Details of Token Swap & Services Supporting BNX:
  • Binance will recover all old BNX balances, and begin the distribution of new BNX to all eligible users at a ratio of 1 old BNX = 100 new BNX.
  • At 2023-02-24 08:00 (UTC), trading will open for BNX/BTC, BNX/BNB, BNX/BUSD and BNX/USDT spot trading pairs.
  • At 2023-02-24 08:00 (UTC), Binance will add BNX to the list of supported cryptocurrencies on Binance Pay.
  • Binance will make a separate announcement after the token swap and redenomination is complete to notify users when deposits and withdrawals of BNX will be opened.
  • BinaryX (BNX) (BEP20) smart contract address:
    0x5b1f874d0b0C5ee17a495CbB70AB8bf64107A3BD
For More Information:
Thanks for your support!
Binance Team
2023-02-10
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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.
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