Binance Releases VeChain’s VEN to VET Token Mainnet Swap Details
The team at Binance has just released a document on the upcoming VeChain to VeChainThor swap for all users of the trading platform. To the Binacians online, the VEN’s accommodation for rebranding and ticker changing to VET will be carried out in several different steps mentioned on the document.
— Binance (@binance) July 19, 2018
For one, the deposits and withdrawals of VEN are ceasing on the 22nds of July 2018 at midnight when the mainnet swap begins. It’s important that you leave time for your deposits of VEN to fully process before this time occurs.
Second, trading will stop on all VEN trading pairs on the 23rd of July 2018 at 4am UTC. They promise to take screenshots of the VEN balances at the exact time to start the redistribution of the new VET to all users at a standard ratio of 1 VEN to 100 VET.
Three, trading will start back up for the new pairings of VET/BTC, VET/BNB, VET/USDT on the 25th ofJuly 2018 UTC. All deposits and withdrawals will also be started again at this time.
It’s important to mention that once the new trading starts with the VET trading pairs, all VEN trading pairs in prior operation will cease to be listed on the exchange.
The VeChain (VEN Token) is currently trading at $1.84 per coin and has a market cap of just over one billion which places them in the top 20 cryptocurrencies in the world at this time.
If you need more information, you can see the official announcement on the VeChain Financial Eecutive Report Vol. 3.
The team at Binance thanks all users for their understanding and support. Now, lets hope it all goes smooth without any hiccups.