Binance, one of the largest cryptocurrency exchanges, has announced the delisting of four tokens: BOND, DOCK, MDX, and POLS, effective July 22, 2024. This decision follows a comprehensive review of the digital assets listed on the platform to ensure they meet Binance’s high standards and industry requirements.

According to Binance, several factors influence the decision to delist a digital asset. These include the commitment of the project team, the level and quality of development activity, trading volume and liquidity, network stability, and responsiveness to due diligence requests. Other considerations include evidence of unethical conduct, compliance with new regulatory requirements, and the asset’s contribution to a healthy and sustainable crypto ecosystem.

Effective July 22, 2024, at 03:00 (UTC), Binance will cease trading on all spot trading pairs for BOND, DOCK, MDX, and POLS. The specific trading pairs being removed are BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT. Following the delisting, all trade orders will be automatically removed, and the tokens’ valuations will no longer be displayed in users’ wallets. Users are advised to ensure that they have not selected “Hide Small Balances” in their wallets to view their assets post-delisting. Deposits of these tokens after July 23, 2024, will not be credited, and withdrawals will not be supported after October 22, 2024.

Several Binance services will be affected by the delisting. Binance Simple Earn will delist the tokens on July 19, 2024. Users can redeem their Flexible Products positions beforehand, or they will be automatically redeemed and transferred to users’ Spot Wallets. Binance Auto-Invest will remove the tokens on July 15, 2024. Users are encouraged to remove their plans beforehand. VIP Loan will close all outstanding loan positions related to these tokens by July 17, 2024. Users should repay their loans to avoid potential losses. Binance Margin will suspend isolated margin borrowing on July 12, 2024, and close all positions on July 17, 2024. Portfolio Margin users are advised to transfer the tokens out of their Margin Wallet and monitor their margin balance to avoid liquidation. Binance Convert will maintain a Sell-only function from July 18, 2024, to July 22, 2024, before delisting the tokens. Binance Gift Card and Binance Pay will also delist the tokens on July 22, 2024. Trading Bots services for the spot trading pairs will terminate on July 22, 2024.

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Users holding BOND, DOCK, MDX, and POLS are advised to take necessary actions before the specified deadlines to avoid any inconvenience. Binance has assured that it will not be liable for any losses incurred due to the delisting process.

Source: blockchain.news

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