saw someone in a group chat panicking because they bought a fresh bStock listing and couldn't withdraw it to their wallet yet, thought something was broken
nothing's broken, it's just how the rollout works. when a new bStock lists, spot trading opens immediately, but self-custody withdrawal to your own wallet opens a couple days later. for example, trading started on the 27th and withdrawals didn't open until the 29th
makes sense once you think about why. every token has to be backed 1:1 by a real share held with the custodian first, and that reconciliation between "how many tokens exist" and "how many real shares are actually held" needs to actually happen before anyone's allowed to move tokens off-platform. trading against existing liquidity is fine in the meantime, self-custody isn't, until that's confirmed
good thing to know before you panic-refresh your wallet after buying something on day one
did the delay ever throw you off, or is this common knowledge by now and I'm just late to it?
#bstockscis @BinanceCIS
nothing's broken, it's just how the rollout works. when a new bStock lists, spot trading opens immediately, but self-custody withdrawal to your own wallet opens a couple days later. for example, trading started on the 27th and withdrawals didn't open until the 29th
makes sense once you think about why. every token has to be backed 1:1 by a real share held with the custodian first, and that reconciliation between "how many tokens exist" and "how many real shares are actually held" needs to actually happen before anyone's allowed to move tokens off-platform. trading against existing liquidity is fine in the meantime, self-custody isn't, until that's confirmed
good thing to know before you panic-refresh your wallet after buying something on day one
did the delay ever throw you off, or is this common knowledge by now and I'm just late to it?
#bstockscis @BinanceCIS
