Binance, one of the world's leading cryptocurrency exchanges, announced that it supports the upcoming Lisk (LSK) contract exchange and shared important details for users before the transition.
Binance Lisk (LSK) Announces Contract Swapping Support
The contract exchange for Lisk (LSK) will see all deposits and withdrawals of legacy LSK tokens suspended from 05:00 on May 21, 2024.
It is crucial that users ensure that they allow sufficient time for deposits and withdrawals of legacy LSK tokens to be fully processed before this event.
Binance reassures its users that various trading and investment services, including spot trading, margin trading, futures trading and Binance Earn services, will not be affected by the contract exchange process.
Binance will manage all necessary technical requirements for users involved in the event and simplify the migration process for its users. For more information, users are advised to refer to the official announcement from the Lisk project team.
During the contract swap, all old LSK tokens will be replaced with new LSK tokens at a 1:1 ratio, ensuring a smooth transition for users.
However, upon completion of the event, deposits and withdrawals of legacy LSK tokens will no longer be supported on the Binance platform.
*This is not investment advice.