- Binance delists DREP, MobileCoin (MOB), and pNetwork (PNT).
- The transfer was made as a result of the token initially didn’t meet the standards to be listed on Binance.
- The DREP workforce apologized to group members and proposed an airdrop program.
Binance, essentially the most well-known centralized buying and selling platform, has introduced plans to discontinue assist for 3 crypto tasks attributable to substandard efficiency. Affected tokens embrace Drep (DREP), MobileCoin (MOB), and pNetwork (PNT).
The transfer comes after Binance not too long ago reviewed all listed digital belongings to make sure they meet excessive requirements and trade necessities. Binance prioritizes offering top-of-the-line service and safety to its customers, so tasks that don’t meet these requirements threat being delisted from the platform. Sadly, DREP, MOB, and PNT don’t meet the standards to be listed on Binance within the first place.
In consequence, Binance will take away all Bitcoin and USDT buying and selling pairs associated to DREP, MOB, and PNT beginning April third. Moreover, the platform will cease accepting deposits for these tokens from the delisting date. Customers are suggested to withdraw their holdings by July third, as Binance will robotically convert any remaining tokens into stablecoins after this era.
Particularly, Binance's transfer to delist DREP, MOB, and PNT had a extreme influence available on the market worth of the tokens. For instance, MOB has plummeted over 56% up to now few hours from its each day excessive of $0.32 to $0.1363. An analogous 56% discount was noticed in his PNT and DREP.
In the meantime, the undertaking workforce behind DREP launched a press release by way of its official X account relating to its delisting from Binance.
Recognizing the influence this improvement has on DREP holders, the workforce apologizes to our group members. On the identical time, the workforce proposed a proposal known as “MOON-INDUCING UTILITY” to scale back the token provide and probably profit holders in the long run.
This proposal consists of the writing and airdrop of DREP tokens. Particularly, we proposed to burn 22,593,750 tokens, which is roughly 23% of the overall token provide, if authorized by the group. Moreover, we’re proposing to airdrop the remaining 20,000,000 tokens.
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