Yorg Healer
October 16, 2024 11:02
Binance will support the rebranding from KLAY to KAIA starting October 28, 2024 with significant changes to the trading pairs and token list.
Binance, a leading cryptocurrency exchange, announced that it supports rebranding the KLAY token to KAIA, as officially announced on its website. This transition includes several changes to trading pairs, deposits, and withdrawals, and is scheduled to take effect on October 28, 2024.
KLAY trading pair delisting
At 03:00 UTC on October 28, 2024, Binance will delist all existing KLAY spot trading pairs, including KLAY/BTC and KLAY/USDT, and cancel all pending KLAY spot trading orders. The move is part of the platform’s efforts to embrace the rebranding process. Afterwards, at 08:00 UTC on October 31, 2024, Binance will open trading for the new KAIA/USDT pair.
Impact on deposits and withdrawals
The brand change also affects deposits and withdrawals of KLAY tokens. KLAY deposits and withdrawals will be suspended from 03:30 UTC on October 28, 2024. Users are advised to ensure that their KLAY deposit has been fully processed before this time. Deposits of new KAIA tokens will begin at 07:00 UTC on October 31, 2024. We will inform you about the resumption of KAIA withdrawals through additional notices.
Changes in Margin and Futures Trading
Binance outlined specific changes to margin and futures trading related to the KLAY token. At 06:00 UTC on October 18, 2024, the platform will cease segregating and cross-margin borrowing for KLAY. Automatic settlement and delisting of the relevant pairs will occur on October 23, 2024. Additionally, Binance Futures will close all positions on the KLAYUSDT USDⓈ-M perpetual contract at 09:00 UTC on October 22, 2024 and then delist the contract. .
Instructions for users
Users trading or holding KLAY are advised to close their positions and update their trading bots to avoid potential losses. Binance automatically handles the technical requirements for conversion, ensuring a smooth process for users. The exchange also advises users to refer to the project team’s announcement for further information about the conversion process.
For more details, please refer to Binance’s official announcement.
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