TRENDING

Home » Binance Announces Support for Frontier (FRONT) Token Swap and Rebranding to Self Chain (SLF)

Binance Announces Support for Frontier (FRONT) Token Swap and Rebranding to Self Chain (SLF)

In a significant move within the cryptocurrency space, Binance has announced its support for the upcoming token swap and rebranding of Frontier (FRONT) to Self Chain (SLF).

by V Sinclair
0 comment

In a significant move within the cryptocurrency space, Binance has announced its support for the upcoming token swap and rebranding of Frontier (FRONT) to Self Chain (SLF). This transition marks a pivotal shift for FRONT holders, with several key dates and changes to be aware of.

Key Highlights:

  1. Token Swap and Rebranding:
    • Frontier (FRONT) tokens will be rebranded and swapped to Self Chain (SLF) tokens at a 1:1 ratio. This means that for every FRONT token, users will receive one SLF token.
    • The rebranding reflects Frontier’s evolution and its new direction under the Self Chain identity.
  2. Trading Pair Delistings:
    • Binance will delist all existing FRONT spot trading pairs, including FRONT/BTC, FRONT/TRY, FRONT/USDC, and FRONT/USDT, on August 27, 2024, at 03:00 UTC. This action will also result in the automatic cancellation of all pending FRONT trading orders.
    • Following the token swap, Binance will open new trading pairs for SLF: SLF/BTC, SLF/TRY, SLF/USDC, and SLF/USDT. These pairs will go live on August 30, 2024, at 08:00 UTC.
  3. Suspension of Deposits and Withdrawals:
    • Deposits and withdrawals of FRONT tokens will be suspended starting August 27, 2024, at 03:30 UTC. Users are advised to ensure that their FRONT token deposits are fully processed before this time.
    • A subsequent announcement will inform users when deposits and withdrawals for SLF tokens are available. After the transition is complete, FRONT token withdrawals will no longer be supported.
  4. Impact on Other Binance Services:
    • Futures Trading: Binance will close all positions on FRONTUSDT USDⓈ-M Perpetual Contracts on August 23, 2024, at 09:00 UTC. The contracts will be delisted after automatic settlement. Users are encouraged to close their positions before this time to avoid automatic settlement.
    • Margin Trading: FRONT will be delisted from Binance Margin on August 23, 2024, at 10:00 UTC. This includes the removal of FRONT/USDC and FRONT/USDT pairs from Cross and Isolated Margin. Users should close their positions and transfer their assets to avoid potential losses.
    • Loans: On August 22, 2024, at 03:00 UTC, Binance will close all outstanding loan positions for FRONT under Binance VIP Loan. Users should repay their FRONT loans before this time.
    • Simple Earn: From August 26, 2024, at 03:00 UTC, Binance Simple Earn will cease support for FRONT Flexible Products. Existing balances will be automatically redeemed and credited to users’ Spot Wallets. SLF Flexible Products will be available following the token swap.
    • Binance Pay and Gift Cards: FRONT will be removed from Binance Pay on August 23, 2024, at 03:00 UTC. FRONT Gift Cards will no longer be created after August 27, 2024, and any unredeemed cards will be automatically converted to SLF tokens.
    • Binance Convert and Auto-Invest: Binance Convert will maintain a sell-only function for FRONT until August 27, 2024, at 02:00 UTC, after which it will delist FRONT pairs. Binance Auto-Invest will delist FRONT on August 20, 2024, at 03:00 UTC.

Users involved in the token swap and rebranding process should closely follow these dates and manage their assets accordingly to avoid any potential disruptions or losses. Binance will manage all technical requirements to ensure a smooth transition.

 

Related Posts :

footer logo

@2023 – All Right Reserved.

Incubated bydesi crypto logo