Binance, a leading cryptocurrency exchange, has announced its endorsement for the rebranding of KLAY coin to KAIA. The transition will officially begin on October 28, 2024, at 06:00 UTC, at which point all trading pairs associated with KLAY, including KLAY/BTC and KLAY/USDT, will be removed. Subsequently, the new KAIA/USDT trading pair will be available starting from October 31, 2024, at 11:00 UTC. Users are advised to take note of these changes to avoid disruptions in their trading activities.
What Are the Key Dates for KLAY and KAIA?
The critical dates include the suspension of KLAY deposits and withdrawals on October 28, 2024, at 06:30 UTC. Users must complete their KLAY transactions prior to this deadline. KAIA deposits will commence on October 31, 2024, at 10:00 UTC.
How Will the Coin Conversion Work?
KLAY will convert to KAIA at a 1:1 ratio, with all existing KLAY trading pairs being eliminated. Binance urges users to cancel or adjust their trading bots accordingly.
Major details regarding the transition include:
- KLAY coin trading pairs will vanish on October 28, 2024.
- KAIA coin trading starts on October 31, 2024.
- Users must finalize KLAY deposits by October 28, 2024, at 06:30 UTC.
- Active positions in KLAY futures must be closed by October 22, 2024.
In addition, Binance Futures will halt KLAYUSDT perpetual contracts on October 22, 2024, with automatic liquidation taking place shortly thereafter. Similar restrictions apply to margin trading, where KLAY will be removed from all trading pairs.
