Leading cryptocurrency exchange Binance has announced support for the Galxe (GAL) token swap, revaluation, and rebranding to Gravity (G). According to the official announcement, this transition involves several important dates and actions for users holding GAL tokens.
Key Dates and Tasks
At 03:00 (UTC) on July 15th, 2024, Binance will delist all existing GAL spot trading pairs, including GAL/.BitcoinCancel all GAL/USDT, GAL/TRY, and pending GAL spot trading orders. After that, trading for the new G/USDT and G/TRY pairs will open at 08:00 (UTC) on July 19, 2024.
Deposits and Withdrawals
Deposits and withdrawals of GAL will be suspended on July 15, 2024 at 03:30 (UTC). Binance will notify users when deposits and withdrawals of the new Gravity (G) tokens will be available. Withdrawals of GAL tokens will no longer be supported after the event.
Spot trading
All GAL spot trading pairs will be delisted on July 15, 2024 at 03:00 (UTC). Users should update or cancel their Trading Bots and Spot Copy Trading portfolios before the delisting to avoid potential losses. Trading for G/USDT and G/TRY pairs will open on July 19, 2024 at 08:00 (UTC).
Gift and Margin Trading
Binance Futures will close all positions on GALUSDT USDⓈ-M perpetual contracts and perform automatic settlement at 09:00 (UTC) on July 11, 2024. Margin trading users are advised to close positions and transfer assets from their margin wallet to their spot wallet by 12:00 (UTC) on July 11, 2024 to avoid potential losses.
Loan and savings products
Starting from 03:00 (UTC) on July 11, 2024, Binance Loans will close all outstanding lending positions for GAL. Simple Earn will stop supporting GAL products on July 12, 2024, 03:00 (UTC), and will perform automatic repayment and re-subscription for G Flexible products after the event.
For more information, users can refer to the official announcement on the Binance website.
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