Key Points
- Binance announced the delisting of OMG, WAVES, WNXM, and XEM on June 17.
- The exchange will cease trading on all spot and margin trading pairs for the tokens.
In an official announcement, Binance revealed the decision to delist and cease trading on all spot and margin trading pairs for the following tokens on June 17 at 03:00 UTC:
- OmiseGO (OMG)
- Waves (WAVES)
- Wrapped NXM (WNXM)
- NEM (XEM)
The trading pairs that will be removed are the following:
- OMG/USDT
- WAVES/BTC
- WAVES/ETH
- WAVES/TRY
- WAVES/USDT
- WNXM/USDT
- XEM/USDT
According to the official announcement, all trade orders will be automatically removed after trading ceases in each trading pair.
In order to view the assets after trading ceases, users have to ensure that they have not selected “Hide Small Balances” in all their wallets.
Deposits of the tokens after June 18 03:00 (UTC) will not be credited to users’ accounts. Also, the withdrawals of the tokens from Binance will not be supported after September 17, 03:00 (UTC).
The exchange announced that delisted tokens may be converted into stablecoins on behalf of users after September 18 at 03:00 (UTC). The conversion of delisted tokens into stablecoins is not guaranteed by Binance. A separate notification will be made before the conversion where applicable, and the stablecoins will be credited to users’ Binance accounts following the conversion.
Binance Simple Earn will delist the tokens mentioned above after June 13 03:00 (UTC). Users can redeem their flexible and Locked Products positions beforehand. Otherwise, the Flexible and Locked Products positions will be automatically redeemed at the time mentioned above and then transferred to users’ Spot Wallets along with the accrued rewards from June 13 at 03:00 (UTC).
Also, Binance Auto-Invest will delist the tokens after June 7, 03:00 (UTC) and users may choose to remove the plan beforehand. Otherwise, the next recurring cycle of the tokens will fail.
Binance Loans (Flexible and Stable Rates) and VIP Loan will close all outstanding loan positions for the tokens as loanable tokens and collateral tokens, on June 11 at 03:00 (UTC). Binance advises users to repay their outstanding loans before June 11 at 03:00 (UTC) to avoid any potential losses.
Binance Futures will adjust the leverage and margin tiers of the USDⓈ-M WAVESUSDT perpetual contract on June 3 at 10:30 (UTC). Existing positions opened before the update will be affected.
Binance Futures will also close all positions and conduct an automatic settlement on the USDⓈ-M WAVESUSDT perpetual contract on June 11 at 09:00 (UTC). The contract will be delisted when the settlement is complete.
Other important details in the announcement include the following:
- Binance Convert will delist the tokens and associated pairs on June 11 at 03:00 (UTC).
- Binance Gift Card will delist the tokens on June 17 at 03:00 (UTC).
- Binance Pay will delist the tokens on June 12, at 03:00 (UTC).
- Binance will terminate Trading Bots services for the spot trading pairs on June 17, at 03:00 (UTC).
- Binance Margin will delist the OMG, WAVES, WNXM, XEM cross margin, and isolated margin pair(s) on June 12 at 06:00 (UTC).
Binance’s commitment to users
Binance periodically reviews each digital asset the exchange lists in order to ensure that it continues to meet a high level of standard and industry requirements.
When a token no longer meets the required standards or whenever the industry’s landscape changes, the exchange conducts an in-depth review of the token and potentially delists it.
Binance’s priority is to ensure the best services and protection for users while, at the same time, adapting to the evolving market dynamics.
In the official announcement, Binance also revealed the factors considered when the exchange decides to delist a token:
- The team’s commitment to the project
- Level and quality of development activity
- Trading volume and liquidity
- Network’s stability and safety in case of attacks
- The network/smart contract stability
- The level of public communication
- The responsiveness to the periodic due diligence requests
- Evidence of unethical and fraudulent conduct or negligence
- New regulatory requirements
- Contribution to a healthy and sustainable crypto ecosystem
The exchange concluded its official announcement by showing gratitude for users’ support and promising to build the crypto ecosystem in a way that promotes transparency and long-term sustainable growth.
