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Exciting news for the WazirX community as Binance has made a significant announcement regarding the WazirX (WRX) token swap. This strategic move involves the integration of WRX tokens across multiple networks including the BNB Smart Chain (BEP20), Ethereum (ERC20), and BNB Beacon Chain (BEP2), as revealed by Binance.
Important Update: Suspension of Old WRX Tokens
Starting from June 4, 2024, at 16:00 (UTC), all deposits and withdrawals of the old WRX tokens will be suspended. It is recommended for users to ensure that their old WRX token transactions are completed before this deadline to avoid any inconvenience.
Trading Services Remain Unaffected
While deposits and withdrawals for old WRX tokens will be on hold, Binance has assured users that other trading services such as spot trading, margin trading, futures trading, and Binance Earn services will not be impacted during the token swap. Binance will handle all technical aspects for users participating in this swap event.
Swap Ratio and Next Steps
During the contract swap, old WRX tokens (WRXOLD) will be exchanged for new WRX tokens at a 1:1 ratio. Once the swap is finalized, Binance will issue a separate announcement regarding the availability of deposits and withdrawals for the new WRX tokens.
Market Impact and Community Response
Amidst increased regulatory scrutiny and the emphasis on security measures in the cryptocurrency market, Binance’s proactive support for the WRX contract swap is a positive step. This move aims to provide seamless integration and enhanced security for WRX token holders, reflecting Binance’s commitment to the community.
Stay tuned for more updates on the latest developments in the blockchain and cryptocurrency space. Trust Extreme Investor Network to bring you valuable insights and exclusive information to help you navigate the world of investing in digital assets.
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