Binance has announced the issuance and conversion of delisted New Bitshares (NBS) tokens held by its users.
This transition is set to take place promptly at 08:00 on September 9th, with a snapshot taken to determine the NBS token balances based on users Binance Wallet location records.
Following the snapshot, Binance will work diligently to replace the NBS token balances with an equivalent amount of USDT (Tether) by December 8th, 2023, at 23:59 (UTC). This conversion will be carried out using the average NBS/USDT exchange rate between the specified time frame of September 9th, 2023, at 00:00 (UTC) and December 8th, 2023, at 23:59 (UTC). This period aptly termed the “Conversion Period,” aims to ensure a fair and accurate exchange rate for the benefit of users.
To offer transparency and insight into the transition, Binance plans to provide users with comprehensive information about the average NBS/USDT exchange rate during the Conversion Period. This valuable data will be made available at the end of the transition period, allowing users to understand and assess the exchange rate dynamics that influenced the token conversion.
Binances commitment to providing its users with a seamless and user-friendly experience remains at the forefront of this initiative. By enabling the conversion of delisted NBS tokens to the stable and widely used USDT, Binance aims to offer enhanced utility and value to its users while facilitating their participation in the ever-evolving cryptocurrency landscape.