Blockchain

Binance Completes Stratis (STRAX) Token Swap and Redenomination

Binance, the leading cryptocurrency exchange, has successfully completed the token swap and redenomination of Stratis (STRAX) tokens. Deposits and withdrawals for the new STRAX tokens are now open, and various services such as spot trading, Binance Simple Earn, and margin trading will support the new tokens. The swap was conducted at a ratio of 1 old STRAX token to 10 new STRAX tokens. Binance users can access their assigned new STRAX token deposit addresses on the platform.

Binance announced the completion of the Stratis (STRAX) token swap and redenomination on its official support page. The exchange confirmed that deposits and withdrawals for the new STRAX tokens are now open, allowing users to freely manage their STRAX holdings.

To facilitate the transition, Binance has made several services available for the new STRAX tokens. Spot trading for the STRAX/BTC, STRAX/USDT, and STRAX/TRY trading pairs opened at 08:00 (UTC) on the completion date. This provides users with the opportunity to trade the new tokens on the spot market.

Furthermore, Binance Simple Earn, a platform that allows users to earn passive income on their crypto holdings, has added STRAX as one of the supported assets. Users can now subscribe to STRAX Flexible Products and earn rewards.

Margin traders can also take advantage of the new STRAX tokens. Binance will add STRAX as a borrowable asset on Cross and Isolated Margin, as well as introduce the STRAX/USDT pair on Cross and Isolated Margin at 13:00 (UTC) on the completion date. This allows traders to leverage their STRAX holdings and potentially increase their trading profits.

Additionally, Binance Loans (Flexible Rate) will support STRAX as a new borrowable asset starting from 08:00 (UTC) on the following day. Users can utilize their STRAX holdings as collateral to secure instant loans.

It’s important to note that the token swap and redenomination were conducted at a ratio of 1 old STRAX token to 10 new STRAX tokens. Binance users can view the token distribution history and obtain their assigned new STRAX token deposit addresses through the provided links.

Deposits and withdrawals of the old STRAX tokens will no longer be supported, so users are advised to transition to the new tokens to ensure seamless trading and access to Binance’s services.

Image source: Shutterstock


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