Binance, a leading cryptocurrency exchange, has announced its support for the Render (RNDR) token swap and rebranding to Render (RENDER). According to an official announcement, the transition will involve delisting existing RNDR spot trading pairs and introducing new RENDER trading pairs.
Details of the Token Swap
The token swap will commence on July 22, 2024, at 03:00 (UTC). Binance will delist all existing RNDR spot trading pairs, including RNDR/BTC, RNDR/USDT, RNDR/FDUSD, RNDR/USDC, RNDR/TRY, RNDR/EUR, and RNDR/BRL. All pending RNDR spot trading orders will be canceled at this time.
On July 26, 2024, at 08:00 (UTC), Binance will open trading for the new RENDER pairs: RENDER/BTC, RENDER/USDT, RENDER/FDUSD, RENDER/USDC, RENDER/TRY, RENDER/EUR, and RENDER/BRL.
Impact on Users
Deposits and withdrawals of RNDR will be suspended starting July 22, 2024, at 03:30 (UTC). Binance advises users to ensure their RNDR deposits are fully processed before this time. After the swap event is completed, RNDR deposits and withdrawals will no longer be supported.
Binance will manage all technical requirements for users involved in the event. Users can refer to the announcement from the project team for more information.
Spot, Futures, and Margin Trading
Binance will cease trading on all RNDR spot trading pairs on July 22, 2024, at 03:00 (UTC). All trade orders will be automatically removed, and Trading Bots services for the affected pairs will be terminated. Users are advised to update or cancel their Trading Bots before the cessation to avoid potential losses. Spot Copy Trading will also delist the pairs on July 21, 2024, at 03:00 (UTC).
For futures trading, Binance will close all positions and conduct automatic settlements on RNDRUSDT USDⓈ-M Perpetual Contracts on July 16, 2024, at 09:00 (UTC). Users are advised to close any open positions before this time to avoid automatic settlement.
Margin trading will also be affected, with RNDR/BTC, RNDR/USDC, and RNDR/USDT cross margin pairs, and RNDR/BTC and RNDR/USDT isolated margin pairs being delisted on July 17, 2024, at 06:00 (UTC). Users are advised to close their positions and transfer assets from Margin Wallet to Spot Wallet before the cessation to avoid potential losses.
Other Services
Binance Loans will close all outstanding loan positions for RNDR from July 17, 2024, at 03:00 (UTC). Users are advised to repay their outstanding RNDR loans before this time to avoid potential losses. Binance Simple Earn will cease support for RNDR Simple Earn Flexible Products from July 19, 2024, at 03:00 (UTC), and existing subscriptions will be automatically redeemed and credited to users’ Spot Wallets.
Binance will assist impacted users by resubscribing for RENDER Flexible Product according to the swap ratio after the event is completed.
For more details, users can read the official announcement on Binance.
Image source: Shutterstock
