Binance completes STRAX token swap and stock split
Binance, a leading cryptocurrency exchange, has successfully completed the token swap and split of the Stratis (STRAX) token. Deposits and withdrawals of the new STRAX token are now possible, and various services such as spot trading, Binance Simple Earn, and margin trading support the new token. This swap was carried out at the ratio of 1 existing STRAX token to 10 new STRAX tokens. Binance users will have access to new STRAX token deposit addresses allocated on the platform.
Binance announced the completion of the Stratis (STRAX) token swap and stock split through its official support page. The exchange confirmed that the new STRAX tokens can now be deposited and withdrawn, allowing users to freely manage their STRAX holdings.
To facilitate the transition, Binance has made several services available for the new STRAX token. Spot trading for the STRAX/BTC, STRAX/USDT, and STRAX/TRY trading pairs opened at completion date 08:00 (UTC). This gives users the opportunity to trade new tokens on the spot market.
Additionally, Binance Simple Earn, a platform that allows users to earn passive income from their cryptocurrency holdings, has added STRAX as one of its supported assets. Users can now subscribe to STRAX flexible products and earn rewards.
Margin traders can also utilize the new STRAX token. Binance will add STRAX as a borrowing asset to Crossed and Isolated Margin and introduce the STRAX/USDT pair to Crossed and Isolated Margin at 13:00 (UTC) on the completion date. This allows traders to leverage their STRAX holdings and potentially increase their trading profits.
Additionally, Binance Lending (Variable Rate) will support STRAX as a new borrowing asset starting at 08:00 (UTC) the next day. Users can secure loans instantly using their STRAX holdings as collateral.
It is important to note that the token swap and split change was carried out at a ratio of 1 existing STRAX token to 10 new STRAX tokens. Binance users can check the token distribution details and get their assigned new STRAX token deposit address through the provided link.
Deposits and withdrawals of existing STRAX tokens are no longer supported, so users are advised to switch to the new token to ensure smooth trading and access to Binance services.
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