Binance Will Support the QuickSwap (QUICK) Token Swap and Redenomination Plan | Binance Support

Fellow Binancians,

Binance will support the QuickSwap (QUICK) token swap and redenomination plan.

Timeline:

• At 2023-07-11 06:00 (UTC), Binance Simple Earn will cease support for QUICK  Flexible Products, and subscriptions will no longer be available. 

  • For existing subscriptions, QUICK balances in Simple Earn Flexible Products will be automatically redeemed and credited to users’ spot wallets before 2023-07-14 06:00 (UTC). 

  • Users may also choose to redeem their assets from QUICK Flexible Products anytime before 2023-07-14 06:00 (UTC).

• At 2023-07-11 06:00 (UTC), Binance will suspend QUICK/USDT cross margin borrowing, as well as QUICK/BTC, QUICK/BUSD and QUICK/USDT isolated margin borrowing. 

  • At 2023-07-13 06:00 (UTC), Binance will close users’ positions, conduct an automatic settlement and cancel all pending orders on the QUICK/BTC, QUICK/BUSD and QUICK/USDT cross and isolated margin pairs. If users have any outstanding cross margin and/or isolated margin loans, QUICK assets held in their cross margin and/or isolated margin accounts may be sold. We will then delist these pairs from cross margin and isolated margin. 

  • A separate announcement will be made for relisting. 

  • Classic Portfolio Margin users are advised to transfer QUICK out of their Margin Wallet to their Spot Wallet and to top up their margin balance, if required before 2023-07-13 06:00 (UTC). Users should monitor the Unified Maintenance Margin Ratio (Uni-MMR) closely to avoid any potential liquidation that may result from the removal of QUICK from the Margin Wallet.

  • All QUICK balances in Cross Margin Wallets under the Portfolio Margin account will be automatically converted into USDT. For more information, please refer to this FAQ.

• At 2023-07-14 03:00 (UTC), Binance will no longer support the creation of QUICK Gift Cards.

  • While users may proceed to redeem any unredeemed QUICK Gift Cards for QUICK tokens before 2023-07-14 03:00 (UTC), please note that the redeemed tokens will be subject to automatic conversion to new QUICK tokens.

  • After 2023-07-14 03:00 (UTC), all unredeemed QUICK Gift Cards will be automatically converted to new QUICK tokens upon redemption.

• At 2023-07-17 03:00 (UTC), Binance will suspend and delist all existing QUICK spot trading pairs (i.e., QUICK/BTC, QUICK/BUSD and QUICK/USDT) and cancel all pending QUICK spot trade orders. 

  • Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2023-07-17 03:00 (UTC), where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.

• At 2023-07-17 03:00 (UTC), Binance will remove QUICK from the list of supported cryptocurrencies on Binance Pay.

• At 2023-07-17 03:30 (UTC), deposits and withdrawals of QUICK will be suspended. Please ensure that you leave sufficient time for your QUICK deposits to be fully processed prior to this time. 

Details of Token Swap & Services Supporting QUICK:

• Binance will recover all old QUICK balances, and begin the distribution of new QUICK tokens to all eligible users at a ratio of 1 old QUICK = 1,000 new QUICK.

• At 2023-07-21 08:00 (UTC), trading will open for QUICK/USDT, QUICK/TUSD and QUICK/BTC spot trading pairs. Please note that users will enjoy zero maker fees on the QUICK/TUSD trading pair until further notice.

• After the token swap, old QUICK tokens will assume QUICKOLD as the ticker. Users who deposit QUICKOLD via the old QUICK smart contract addresses will be able to swap these tokens for new QUICK tokens using the convert function.

• Binance will make a separate announcement after the token swap and redenomination is complete to notify users when deposits and withdrawals of QUICK will be opened.

• Old QuickSwap (QUICKOLD) smart contract addresses: 

  • Ethereum (ERC20):0x6c28AeF8977c9B773996d0e8376d2EE379446F2f

  • Polygon:0x831753DD7087CaC61aB5644b308642cc1c33Dc13

• New QuickSwap (QUICK) smart contract addresses: 

  • Ethereum (ERC20):0xd2bA23dE8a19316A638dc1e7a9ADdA1d74233368

  • Polygon:0xB5C064F955D8e7F38fE0460C556a72987494eE17

• Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.

For More Information:

• Should QuickSwap Do a Token Split to Make QUICK More Appealing?

• Should QuickSwap Split QUICK by 1:100 or 1:1,000?

• How to Convert Your Old QUICK to New QUICK

• QUICK Swap Portal

Thanks for your support!

Binance Team

2023-07-10

Trade on-the-go with Binance’s crypto trading app (iOS/Android)

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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.

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