Binance to Support Kaia (KLAY) Rebranding to Kaia (KAIA)

Joerg Hiller Oct 16, 2024 11:02

Binance is set to support the rebranding of Kaia (KLAY) to Kaia (KAIA), with significant changes to trading pairs and token listings beginning October 28, 2024.

Binance, a leading cryptocurrency exchange, has announced its support for the rebranding of the Kaia (KLAY) token to Kaia (KAIA), as stated in an official announcement on their website. This transition will involve several changes to trading pairs, deposits, and withdrawals, which are scheduled to take effect on October 28, 2024.

Delisting of KLAY Trading Pairs

On October 28, 2024, at 03:00 UTC, Binance will delist all existing KLAY spot trading pairs, including KLAY/BTC and KLAY/USDT, and cancel all pending KLAY spot trading orders. This move is part of the platform's efforts to accommodate the rebranding process. Subsequently, on October 31, 2024, at 08:00 UTC, Binance will open trading for the new KAIA/USDT pair.

Impact on Deposits and Withdrawals

The rebranding will also affect deposits and withdrawals of the KLAY token. From October 28, 2024, at 03:30 UTC, deposits and withdrawals of KLAY will be suspended. Users are advised to ensure that their KLAY deposits are fully processed before this time. Deposits for the new KAIA token will commence on October 31, 2024, at 07:00 UTC. A further announcement will be made regarding the resumption of KAIA withdrawals.

Changes in Margin and Futures Trading

Binance has outlined specific changes for margin and futures trading related to the KLAY token. On October 18, 2024, at 06:00 UTC, the platform will suspend isolated and cross-margin borrowings for KLAY. Automatic settlements and delistings of related pairs will occur on October 23, 2024. Additionally, Binance Futures will close all positions on KLAYUSDT USDⓈ-M Perpetual Contracts on October 22, 2024, at 09:00 UTC, followed by the delisting of these contracts.

Guidance for Users

Users engaged in trading or holding KLAY are advised to close their positions and update their trading bots to avoid potential losses. Binance will automatically handle technical requirements for the transition, ensuring a smooth process for its users. The exchange also advises users to refer to the project team's announcement for further information on the transition process.

For more details, visit the official Binance announcement.

Image source: Shutterstock

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