The Delisting of SNM, SRM, and YFII on Binance
Binance, the world’s largest crypto exchange, has announced that it will be delisting three tokens from its platform due to their failure to meet the required standards. The tokens being delisted are SNM, the native token of Sonm, SRM, the native token of Serum, and YFII, the native token of DFI.Money.
Key Points:
– Binance regularly assesses tokens listed on its platform and delists those that do not meet the required standard.
– The exchange considers factors such as the team’s commitment, development plans, liquidity, stability, security, public relations, fraudulent conduct, and responsiveness to due diligence requests.
– Trading pairs for these tokens will no longer be available on the platform, and users will not be able to deposit them after August 23.
– Binance Pay, Loans, and Simple Earn will also remove support for these tokens.
– Users have until November 22 to withdraw these tokens from their Binance account, after which their value will be converted to stablecoins and deposited into their account.
Hot Take:
The delisting of SNM, SRM, and YFII on Binance is a significant blow to these tokens and their communities. The prices of these tokens have already experienced a significant decline in response to the news. It highlights the importance of meeting the high standards set by exchanges to ensure the value and credibility of listed tokens.
By
By
By
By