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Binance Will Support the BitTorrent (BTT) Token Migration, Redenomination and Renaming Plan

2022-01-10 11:15
Fellow Binancians,
Binance will support the BitTorrent (BTT) token migration, 1:1,000 redenomination plan and renaming plan. Further details about this change are shown on the timeline below:
  • At 2022-01-11 02:00 (UTC), Binance will suspend BTT/BUSD and BTT/USDT cross margin borrowing, and BTT/BUSD and BTT/USDT isolated margin borrowing.
  • At 2022-01-14 02:00 (UTC), Binance will close all BTT margin positions, conduct an automatic settlement and cancel all pending BTT margin orders, and then delist BTT/BUSD and BTT/USDT cross margin trading pairs, as well as BTT/BUSD and BTT/USDT isolated margin trading pairs. A separate announcement will be made for relisting.
  • At 2022-01-14 02:00 (UTC), Binance Futures will close all BTT futures positions, conduct an automatic settlement and cancel all pending orders on BTT/USDT futures contract, and then delist this contract. 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 Futures will 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 and capped funding rate, 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.
  • At 2022-01-14 06:00 (UTC), Binance will suspend BTT Flexible Savings subscription, and all BTT subscribing to Flexible Savings will be automatically redeemed and deposited into users’ spot wallets on the same day. Rewards from BTT Flexible Savings will be calculated and distributed before the suspension based on the subscription time and amount.
  • Deposits and withdrawals of BTT will be suspended at 2022-01-17 02:00 (UTC). Please ensure that you leave sufficient time for your BTT deposits to be fully processed prior to this time. If deposited after this time, the tokens will not be credited to your account.
  • Binance will delist all existing BTT spot trading pairs (BTT/USDT, BTT/BUSD, BTT/USDC, BTT/BNB, BTT/TRX, BTT/TUSD, BTT/TRY, BTT/EUR, BTT/BRL) at 2022-01-17 04:00 (UTC) and all pending spot trade orders will be cancelled.
  • Binance will recover all old BTT balances and begin the distribution of new BTT, which will be renamed as BTTC, to all eligible users at a ratio of 1 BTT (Old) = 1,000 BTTC.
  • After the token migration, the old BTT tokens will be renamed as BTTOLD, and the new tokens’ ticker will be BTTC.
  • Trading will then open for BTTC/USDT, BTTC/USDC and BTTC/TRY spot trading pairs at 2022-01-25 04:00 (UTC). BTTC/BTC and BTTC/BNB spot trading pairs will not be listed.
  • Binance will make a separate announcement after the token swap is complete to notify users when deposits and withdrawals of BTTC will open.
  • Thereafter, users will be able to use the convert function to swap their BTTOLD for new BTTC tokens.
  • New BTTC (TRC20) contract address: TAFjULxiVgT4qWk6UZwjqwZXTSaGaqnVp4
For further information, please refer to the following: BTT Redenomination Plan
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
2022-01-10
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Note:
This announcement was updated on 2022-01-20 to update the trading reopen time for BTTC’s spot trading pairs.
This announcement was updated on 2022-01-11 to clarify the impact on BTT Savings products.
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.