Binance, one of the leading cryptocurrency exchanges, has announced the delisting of five digital assets following its latest review. The affected tokens are Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OpenANX (OAX), and Ren (REN).
Trading for these assets will cease on December 10, 2024, at 03:00 (UTC), with subsequent restrictions on deposits and withdrawals.
Key Factors Behind the Decision
Binance periodically evaluates all listed assets to ensure they meet high standards and align with evolving market conditions. The decision to delist these tokens was influenced by several factors, including:
- Development activity and team commitment
- Trading volume and liquidity
- Network security and stability
- Responsiveness to due diligence requests
- Contribution to a sustainable crypto ecosystem
- Compliance with regulatory requirements
Timeline of Changes
- Trading Cessation: Trading pairs such as GFT/USDT, IRIS/BTC, and others will be removed on December 10, 2024. All open orders in these pairs will be canceled.
- Deposit Restrictions: Deposits for these tokens will not be credited after December 11, 2024, at 03:00 (UTC).
- Withdrawal Deadline: Withdrawals will not be supported after February 12, 2025, at 03:00 (UTC).
- Potential Stablecoin Conversion: Tokens may be converted to stablecoins for users after February 13, 2025, subject to a separate announcement.
Overview of the Delisted Tokens
- Gifto (GFT): A decentralized gifting platform launched in 2017, enabling users to create and share blockchain-based virtual gifts.
- IRISnet (IRIS): A blockchain protocol designed to integrate on-chain and off-chain business processes for small and medium enterprises.
- SelfKey (KEY): A blockchain identity management system allowing users to securely control and manage their digital identities.
- OpenANX (OAX): A decentralized exchange platform promoting transparency and secure trading environments.
- Ren (REN): A protocol focused on blockchain interoperability, facilitating the transfer of assets across multiple platforms.
