Upholding strict standards for listed assets is a top priority at Binance. Frequent evaluations guarantee that every digital asset keeps up with strict industry standards. Binance does a thorough review and may delist an asset if it no longer meets these standards or if the industry landscape changes. In order to accommodate changing market conditions and offer users the best services and protection, this procedure is essential.
Delisting a digital asset is influenced by a number of factors. These factors include the development teams dedication to the project, the volume and caliber of development activity, trading volume and liquidity, network security and stability, the stability of smart contracts or the network, the degree of public communication, the responsiveness to requests for periodic due diligence, and other factors that directly affect the fundamental health of various assets or projects.
BarnBridge (BOND), Dock (DOCK), Mdex (MDX) and Polkaster (POLS) are assets that will see their pairs being removed. As soon as trading is over, all trade orders will be automatically canceled. Delisting of the token will result in its valuation no longer being shown in wallets, and deposits made after July 23, 2024, will not be credited to user accounts.
After October 22, 2024, withdrawals will not be accepted anymore. Furthermore, after October 23, 2024 users may convert their delisted tokens into stablecoins on their behalf; however, this conversion is not assured.
In order to prevent potential losses, users of Binance Simple Earn Auto-Invest Binance Loans and Binance Margin are recommended to manage their positions and assets prior to the designated deadlines.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
