The withdrawal of assets from the platform will be available until September 10, 2022

Binance to delist GRS, NAS, and GO tokens

01.07.2022 - 08:10

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2 min

What’s new? Cryptocurrency exchange Binance will delist Groestlcoin (GRS), Nebulas (NAS), and GoChain (GO) tokens on July 8. The trading pairs GRS/BTC, NAS/BTC, NAS/ETH, and GO/BTC will be removed. After trading ceases in these pairs, orders will be automatically removed. Deposit of assets to the account will not be available from July 9, withdrawals will be possible until September 10, 2022.

Binance’s blog post

Groestlcoin is a decentralized open-source cryptocurrency launched in 2014 by a team of anonymous developers as a result of a fork of the Bitcoin network. The total supply is limited to 105 million GRS. The token supports peer-to-peer (P2P) transactions exclusively. As of July 1, 08:45 UTC, the asset is trading at $0,489, having added 46,78% in price per day, according to Binance.

Nebulas is a DeFi platform that provides a set of tools for developers. The network was created in 2017 on the Ethereum blockchain. It uses its own Proof of Devotion (PoD) consensus algorithm. The platform’s native token, NAS, is priced at $0,062, down by 15,2% in 24 hours. The asset is used to pay transaction fees and the computing service charge.

GoChain is a fully Ethereum-compatible blockchain and uses the Proof of Authority (PoA) algorithm. The network supports smart contracts and allows the creation of decentralized applications (dApps) with high energy efficiency. The native token GO is trading at $0,01, up 17,78% in 24 hours.

How do Binance select tokens to delist? According to a blog post, the crypto exchange periodically reviews each asset to be listed for compliance with “the high level of standard.”

The exchange’s team decides whether to delist based on several factors:

  • Commitment of team to project
  • Level and quality of developments
  • Trading volume and liquidity
  • Network security
  • Network / smart contract stability
  • Level of public communication
  • Responsiveness to due diligence requests
  • Evidence of unethical/fraudulent conduct
  • Contribution to a crypto ecosystem

Also, Binance does not support transactions with LTC using the MWEB function, which increases their privacy. Such transfers will result in the loss of funds, as the platform will not be able to identify the sender to recover them.

Author:

Vasiliy Smirnov Vasiliy Smirnov

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