Friday, July 12, 2024

Binance Completes WazirX (WRX) Contract Swap, Opens Deposits and Withdrawals

Binance, a leading cryptocurrency exchange, has successfully completed the contract swap for WazirX (WRX) tokens, according to Binance. The swap was executed at a ratio of 1 WRXOLD to 1 new WRX, and users can now deposit and withdraw the new WRX tokens.

Details of the Swap

The swap of WRX tokens was a straightforward 1:1 conversion, meaning that for each WRXOLD token, users received one new WRX token. Binance has opened deposits and withdrawals for the new WRX tokens, allowing users to manage their assets seamlessly on the platform.

Changes in Network Support

Following the swap, Binance will no longer support deposits and withdrawals of WRXOLD tokens on the BNB Beacon Chain (BEP2) network. Additionally, withdrawals of WRXOLD tokens on the Ethereum (ERC20) and BNB Smart Chain (BEP20) networks will no longer be supported. However, deposits for WRXOLD tokens will remain open.

Obtaining New WRX Deposit Addresses

Users can obtain their new WRX token deposit addresses via Binance’s website. This ensures that users have the correct and updated information to facilitate their transactions.

Market Implications

The successful completion of the WRX contract swap is expected to streamline the trading and management of WRX tokens on Binance. The move may also enhance liquidity and trading efficiency for WRX on the platform, potentially influencing market dynamics.

For further details and the latest updates, users are encouraged to refer to the original announcement on Binance.

Image source: Shutterstock

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