VEN To VET Mainnet Swap Complete on Binance
The long awaited Vechain to VechainThor Mainnet swap has now been completed on Binance. The popular cryptocurrency exchange suspended deposits and withdrawals on July 22nd at 0:00 AM (UTC) in order to prepare for the upcoming token swap. The following day, July 23rd all trading pairs with Vechain (VEN) were paused as well.
At the exact same time they suspended trading, they also took the snapshot and begain to distribute the VET tokens at a ratio of 1 VEN to 100 VET.
— Binance (@binance) July 24, 2018
VechainThor Swap Completed
Users can now log into their Binance account and see that the token swap has been completed and all tokens have been distributed. If you have your account set to “Hide Small Balances” you may need to uncheck that box in order see your new tokens. As they have no BTC value at the time of this writing.
Disable the "hide" function
— RandomPanda (@BlooDh3xx) July 24, 2018
Binance has went ahead and provide base pricing on all trading pairs:
- VET/BTC 0.00000240
- VET/ETH 0.00003941
- VET/BNB 0.00149200
- VET/USDT 0.018319
The set prices were pulled from the last traded price on VEN and then divided by 100. But you can expect those to change drastically if the “Binance Effect” comes into play after the mainnet swap.
VET/BTC, VET/ETH, VET/BNB and VET/USDT pairs will open for trading on July 25th at 4:00 AM (UTC). If you wish to go ahead and move your new VET tokens off of Binance and into a cold storage wallet, you are now able to do so as Deposits and Withdrawals are now open.