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Binance to Automatically Convert Delisted Tokens to USDC, Introduces Scroll (SCR) to Enhance Ethereum Scalability

Binance to Automatically Convert Delisted Tokens to USDC, Introduces Scroll (SCR) to Enhance Ethereum Scalability

Binance Exchange, the largest crypto trading platform by volume, recently shared some important news. They announced that they will automatically convert several delisted tokens into USDC.

This conversion will be based on the average exchange rate of the tokens to USDC during the conversion period.

After delisting 10 tokens from their platform, Binance confirmed that they will convert these tokens to USDC. This move allows holders to access their funds easily. Once the conversion is complete, users will see the stablecoin equivalent of the affected tokens in their wallets by April 28, 2025. The tokens affected include:

  • Vai (VAI)
  • Tornado Cash (TORN)
  • OMG Network (OMG)
  • Waves (WAVES)
  • NEM (XEM)
  • BarnBridge (BOND)
  • Dock (DOCK)
  • Mdex (MDX)
  • Polkastarter (POLS)
  • Pundi X PURSE (PURSE)

If you hold these tokens, it’s a good idea to adjust your trading strategies. If you don’t take action by October 28, your tokens will automatically convert to USDC. This means those tokens will no longer be available on the exchange.

During the conversion period, which runs from October 29, 2024, to April 28, 2025, users won’t be able to see these tokens in their Binance wallets.

It's worth noting that Binance's history of delisting tokens often leads to market volatility. For example, when they delisted six altcoins in mid-August, it caused significant price drops for PowerPool (CVP) and Ellipsis (EPX), which were among the delisted assets.

But Binance isn’t just removing tokens; they’re adding new ones too. One exciting addition is Scroll (SCR), a zkRollup scaling solution for Ethereum.

According to the announcement, SCR will be listed on October 11. Pre-market trading for the SCR/USDT pair will start then. This addition aims to enhance Ethereum's scalability by allowing faster and more efficient transactions while keeping security and decentralization intact.

Binance expressed their excitement about this new project: “We are thrilled to announce the 60th project on Binance Launchpool – Scroll (SCR), a Bytecode-level compatible zkEVM Rollup.”

With this listing, Binance becomes the first platform to offer Scroll’s powering token. They will also airdrop 55 million SCR, which is 5.5% of the total supply. Airdrop farming will begin on Wednesday, October 9. To receive SCR tokens, participants need to lock their BNB and FDUSD.