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Binance Facilitates AWE Network Launch
By: bitcoin ethereum news|2025/05/07 21:30:02
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Binance has confirmed its endorsement of changing the Standard Tokenization Protocol (STPT) to AWE Network (AWE), with the transition beginning on May 19, 2025. Following this shift, all STPT coins will be converted to AWE coins at a ratio of 1:1, promising a seamless shift for users without requiring their input. Trading of STPT will cease, making way for new AWE/USDT and AWE/BTC pairs as trading resumes on May 21. How Will the Coin Swap Process Unfold? The procedure will initiate promptly on May 19, at 06:00 Turkish Standard Time (TSI), with Binance delisting STPT/USDT and STPT/BTC spot trading pairs and canceling any pending orders. By 06:30 TSI on the same day, depositing and withdrawing STPT coins will be paused. Users must complete any necessary transactions before these operations are halted. Completing the transformation, from May 21, AWE deposit activities commence at 10:00 TSI, followed by trading beginning at 11:00 TSI for AWE/USDT and AWE/BTC pairs. The conversion will not alter the equivalence rate between the two coins, and post-rebranding, withdrawals of STPT coins will not be facilitated. What Additional Changes Are Planned? Aside from spot trading, Binance plans substantial revisions in margin trading. From May 9, 2025, STPT borrowing will cease on Cross and Isolated Margin platforms. These positions must close by May 14 at 09:00 TSI, after which liquidation and relevant margin pair removal will occur. Users should move assets from margin to spot accounts preemptively. Moreover, STPT-related operations in Loans and Simple Earn products will undergo alterations. STPT loans will terminate on May 14, and Simple Earn products will migrate to spot accounts by May 16. Discontinuation of STPT support in Binance Pay and Gift Card services will also proceed methodically. Key details for users include: STPT swapping to AWE starts May 19, ending STPT withdrawals. Spot trading resumes with AWE/USDT and AWE/BTC on May 21. Margin trading adjustments require a shift to spot accounts by May 14. STPT loans and Earn products face potential termination or migration. Binance continues to enhance its platform standards as it introduces AWE, ensuring an efficient process for all coin holders involved in this rebranding initiative. The strategic decision underscores Binance’s commitment to offering extensive opportunities and improved functionalities to its global user base. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/binance-facilitates-awe-network-launch
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