Peter Zhang
19 Aug 2024 12:36
Binance has announced that it will support the Frontier (FRONT) token swap and rebrand to Self Chain (SLF), which will impact trading pairs and futures contracts.
Leading cryptocurrency exchange Binance has announced support for the Frontier (FRONT) token swap and rebranding to Self Chain (SLF). According to Binance, this significant transition will impact a number of trading pairs and services on the platform.
Token Swap Details
Starting from 03:00 UTC on August 27, 2024, Binance will delist all existing FRONT spot trading pairs, including FRONT/BTC, FRONT/TRY, FRONT/USDC, FRONT/USDT. All pending FRONT spot trading orders will also be canceled at this time. Trading for the new SLF pairs (SLF/BTC, SLF/TRY, SLF/USDC, SLF/USDT) will open on August 30, 2024, 08:00 UTC.
Deposits and Withdrawals
Deposits and withdrawals of FRONT tokens will be suspended on August 27, 2024 at 03:30 UTC. Users are advised to ensure that their FRONT token deposits have been fully processed prior to this deadline. Binance will make a separate announcement once the swap is complete and SLF deposits and withdrawals become available. FRONT token withdrawals will no longer be supported after the swap.
Impact on trading services
Spot trading
Upon delisting on August 27, 2024, Binance will suspend trading on all FRONT spot trading pairs and terminate related trading bot services. Users are advised to update or cancel their trading bots and spot copy trading portfolios by August 26, 2024 to avoid potential losses.
Gift contract
Binance Futures will close all positions on FRONTUSDT USDⓈ-M perpetual contracts and perform auto-settlement on August 23, 2024 at 09:00 UTC. Users should close all open positions before this time to avoid auto-settlement. Binance Futures may implement additional safeguards such as adjusting leverage and margin requirements.
Margin Trading
FRONT will be delisted from Cross and Separate Margin on August 23, 2024 at 10:00 UTC. Binance Margin will stop lending for these pairs on August 20, 2024 at 06:00 UTC. Users should close positions and transfer assets from their Margin Wallet to their Spot Wallet prior to the delisting to avoid potential losses.
VIP Loan
All outstanding FRONT loan positions under Binance VIP Loan will be closed on August 22, 2024 at 03:00 UTC. Users are advised to repay their FRONT loans before this deadline.
Simple income
Binance Simple Earn will stop supporting FRONT Flexible products on August 26, 2024 at 03:00 UTC. Existing subscriptions will be automatically refunded and credited to users’ Spot Wallets. After the swap, Binance will support users to re-subscribe to SLF Flexible products.
Additional information
Binance will handle all technical requirements for users participating in this token swap and rebranding event. For more information, please refer to the official announcement from the project team.
Image source: Shutterstock