Binance announces support for Galxe (GAL) token swap and rebranding to Gravity (G)

Are you ready for some major changes in the cryptocurrency world? Binance, one of the leading cryptocurrency exchanges, has recently announced its support for the Galxe (GAL) token swap, redenomination, and rebranding to Gravity (G). This transition comes with some crucial dates and actions for users holding GAL tokens, so let’s break it down.

Key Dates and Actions:
On July 15, 2024, at 03:00 (UTC), all existing GAL spot trading pairs on Binance, including GAL/BTC, GAL/USDT, and GAL/TRY, will be delisted, and all pending GAL spot trading orders will be canceled. Trading for the new G/USDT and G/TRY pairs will commence on July 19, 2024, at 08:00 (UTC).

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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. Remember, post-event, withdrawals of GAL tokens will no longer be supported.

Spot Trading:
All GAL spot trading pairs will be delisted at 03:00 (UTC) on July 15, 2024. Make sure to update or cancel your Trading Bots and Spot Copy Trading portfolios before the cessation to avoid any potential losses. Trading for G/USDT and G/TRY pairs will open on July 19, 2024, at 08:00 (UTC).

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Futures and Margin Trading:
Binance Futures will close all positions and conduct an automatic settlement on the GALUSDT USDⓈ-M Perpetual Contracts on July 11, 2024, at 09:00 (UTC). Margin trading users are advised to close their positions and transfer their assets from Margin Wallet to Spot Wallet by July 11, 2024, at 12:00 (UTC) to avoid any potential losses.

Loans and Earn Products:
Starting from July 11, 2024, Binance Loans will close all outstanding loan positions for GAL. Simple Earn will cease support for GAL products on July 12, 2024, with automatic redemption and resubscription for G Flexible Products post-event.

For more detailed information, make sure to check out the official announcement on Binance’s website. Stay tuned for more updates in the world of cryptocurrency and blockchain on Extreme Investor Network. Happy trading!

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