Cryptocurrency exchange Binance has issued an important statement for its users regarding IRISnet (IRIS). Starting at 07:30 Turkey time on May 20, 2024, deposits and withdrawals of IRIS tokens will be paused to facilitate a network upgrade aimed at enhancing user experience.
What are the Upgrade Timings?
According to the announcement, the network upgrade is anticipated to take place at block height 25,006,118. This event is scheduled to occur around 08:30 Turkey time on May 20, 2024. Binance has assured users that the trading of tokens on the IRIS network will remain unaffected throughout the upgrade process.
How Will Users Be Affected?
Binance has emphasized that it will handle all necessary technical requirements to ensure a smooth transition. Once the network upgrade is deemed stable, the suspension on deposits and withdrawals will be lifted. Users are advised to follow Binance’s updates for further information, though no additional announcements are currently planned.
Key Takeaways for Users
- Deposits and withdrawals of IRIS tokens will be paused starting 07:30 Turkey time on May 20, 2024.
- The network upgrade is scheduled for block height 25,006,118, expected around 08:30 Turkey time.
- Trading of IRIS tokens will remain uninterrupted during the upgrade.
- Binance will manage all technical aspects of the upgrade.
- Deposits and withdrawals will resume once the network is confirmed to be stable.
These actionable insights ensure users can plan their transactions accordingly and avoid any potential disruptions.
In conclusion, Binance’s proactive measures for the IRISnet (IRIS) network upgrade aim to provide a seamless experience for users. By pausing deposits and withdrawals only temporarily, the exchange seeks to minimize inconvenience while ensuring the upgrade is successfully implemented. Users are encouraged to stay informed through Binance’s official channels for any developments.