Binance has unveiled a comprehensive plan to support the rebranding of Litentry (LIT) to Heima (HEI), which includes a significant coin swap. This transition will see the circulating supply of HEI coins expand from 66 million to 100 million over a span of 20 months, marking a pivotal moment for users involved.
What Will Happen to LIT Trading?
In alignment with this rebranding initiative, Binance will cease trading for LIT/BTC and LIT/USDT pairs on February 10, 2025, at 06:00 (UTC). All open orders will be annulled at that time. Subsequently, trading pairs for HEI against BTC and USDT will launch on February 13, 2025, at 11:00 (UTC), prompting users to adjust their trading strategies accordingly.
How Will Other Services Be Impacted?
Furthermore, LIT coin deposits and withdrawals will be permanently halted starting on those specified dates. The HEI coin deposits are set to begin on February 13, 2025, at 10:00 (UTC). Binance will release further details regarding the withdrawal process after the transition concludes.
In addition to trading changes, Binance Futures will automatically terminate LITUSDT futures contracts on January 31, 2025. Here are the key impacts users should note:
- LIT margin trading will cease on February 6, 2025, with all debts settled.
- Coins in margin accounts will convert to USDT automatically.
- Services like Simple Earn and Auto-Invest for LIT will be discontinued.
Users are advised to review and adjust their trading plans before these crucial changes take place, ensuring a seamless transition to the new Heima coin structure.
