Margin Trading Discontinuation Binance will no longer support margin trading for OMG, WAVES, WNXM, and XEM starting at 06:00 UTC on 2024-06-12. Users should transfer these tokens from their margin wallets to spot wallets and ensure their margin balance is topped up before the deadline to avoid liquidation risks.
Portfolio Margin Users Portfolio margin users need to closely monitor the Unified Maintenance Margin Ratio (UniMMR). Binance will automatically convert all OMG, WAVES, WNXM, and XEM balances in cross margin wallets under the portfolio margin account to USDT starting at 06:00 UTC on 2024-06-12. The conversion process may take approximately 24 hours or longer.
Binance Convert and Gift Card Binance Convert will remove these tokens and associated pairs at 03:00 UTC on 2024-06-11. Similarly, Binance Gift Card will delist these tokens at 03:00 UTC on 2024-06-17. Users are advised to take care of their gift cards containing these tokens in advance.
Binance Pay Binance Pay will also delist these tokens at 03:00 UTC on 2024-06-12. Users should update or cancel their trading bots before the discontinuation to avoid potential losses.
Trading Bots Services Binance will stop offering trading bots services for these spot trading pairs at 03:00 UTC on 2024-06-17. Users are strongly recommended to update and/or cancel their trading bots before the service stops.
Our Experience At Mcrypto.club, we experienced a loss of $10,000 due to the delisting of our 2-year WAVES long position on futures. This situation raises concerns about Binance’s trustworthiness. To be seen as a reliable exchange, Binance should allow clients with open positions on delisted pairs to keep those positions until they choose to close them. Instead, Binance forces the closure of these positions, often resulting in losses, which seems to benefit the exchange financially. This raises doubts about the exchange’s integrity and customer-centric practices.