Leading digital asset exchange Binance has recently declared its support for PlayDapp’s token transition, facilitating a swap from PLA to PDA tokens. The announcement has detailed the transition process, elucidating the impact on PLA trading pairs and associated services.
Immediate Halt on PLA Token Transactions
Binance has promptly suspended deposits and withdrawals of PLA tokens and cautions its customers to hold off on any PLA transactions until further notice. The exchange will manage the technical aspects of the token swap on behalf of its users.
During the swap on Binance, PLA holders will experience a direct conversion to PDA tokens at a one-to-one ratio. The PDA tokens will be compatible with the Ethereum Blockchain thanks to their ERC-20 based smart contract address.
Cessation of PLA Trading Pairs and Automated Trading Services
Ahead of the swap, Binance will remove all PLA trading pairs from its spot market, with PLA/BTC and PLA/USDT pairings ceasing on February 26, 2024, at 06:00 AM. Concurrently, all existing orders in these pairs will be cancelled. The exchange also plans to discontinue Trading Bots services for these pairs, advising users to make necessary adjustments to their automated strategies.
Post-delisting, Binance will introduce new trading pairs for the swapped PDA tokens, commencing trades for PDA/BTC and PDA/USDT on March 1, 2024, at 11:00 AM. This move is designed to ensure a smooth transition for users to engage with the new PDA tokens within the platform’s ecosystem.
