Fellow Binancians,
Binance will open trading for the BDOT/DOT trading pair on 2022-01-28 at 12:00 (UTC).
- BDOT is not available for deposits or withdrawals.
- Users will be able to convert their DOT to BDOT on Binance's DOT Slot Auction portal starting from 2022-01-27 at 12:00 (UTC).
What is BDOT?
BDOT is a tokenized asset representing the staked DOT in the DOT Slot Auction, convertible to DOT at a 1:1 ratio. During the lease period, which may take 96 weeks or even longer, users will not be able to redeem their DOT. As such, we have issued BDOT and launched the BDOT/DOT trading pair to provide users with a liquidity solution. When the DOT lease period ends, users will be able to convert their BDOT to DOT at a 1:1 ratio based on their BDOT holdings. For more information, please visit Binance’s DOT Slot Auction portal.
Note:
- Although BDOT is a tokenized asset representing your staked DOT on a 1:1 basis, the price is determined by the market and may be higher or lower than the price of DOT. Please be aware of the risks involved.
- If users sell their BDOT during the lease period, they will continue to receive the voting rewards from the projects that they voted for; however, users who purchase BDOT from the secondary trading market will not receive these voting rewards.
- The slot lease period is expected to end on 2023-10-24, and users can then convert BDOT to DOT at a 1:1 ratio on the DOT Slot Auction portal. Please note that the end date of the lease period is determined by the block height of the Polkadot network and may vary.
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!
Thanks for your support!
Binance Team
2022-01-27
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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.