Information Regarding the Upcoming VEN/VET Mainnet Swap on Binance
Hello VeChain holders. VeChain is currently going through its token swap. VEN will be rebranded from VEN to VET. If you are an X-Node holder, hopefully, you already completed the mobile wallet bind. After the bind, you needed to transfer your VEV to Binance so that they could swap your VEN into VET. After the swap, you can then send your newly acquired VET to your mobile wallet, and start collecting VeThor. There are also early holder rewards that will be given out to VET holders.
Here is the official word from Binance.
"Deposits and withdrawals of VEN will be suspended starting from 2018/07/22 0:00 AM (UTC), at which point we will begin the mainnet swap.
Important: Please ensure that you leave sufficient time for your VEN deposits to be fully processed prior to this time.
Trading will be halted in all VEN trading pairs at 2018/07/23 4:00 AM (UTC). We will take an immediate snapshot of all VEN balances at the exact same time (2018/07/23 4:00 AM UTC), and begin the distribution of VET to all eligible users at a ratio of 1 VEN = 100 VET.
Trading will open for the new VET/BTC, VET/ETH, VET/BNB and VET/USDT trading pairs at 2018/07/25 4:00 AM (UTC). Deposits and withdrawals for VET will also be opened at this time.
Please note: Once trading opens in the new VET trading pairs, all prior VEN trading pairs will be delisted from the exchange."
If you look at Binance now, you will notice that deposits and withdrawals are temporarily halted for the VEN to VET swap. Remember to move your newly acquired VET to your mobile wallet ASAP after the swap so that you can start earning those early bird special bonuses. It is also important to note that if you are an X Node holder, that you do not sell below the minimum amount needed to attain that node. If you fall below the threshold, then you will permanently lose your X-node status. Good luck VeChain holders and thanks for reading.
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