Leading cryptocurrency exchange Binance has announced it will support the token swap from PlayDapp (PLA) to PlayDapp (PDA), marking a significant transition for platform users. The recent announcement outlined the details of the token swap process, as well as changes to the trading pairs and services associated with the PLA token.
PLA Tokens to Convert to PDA Tokens at a 1:1 Ratio
Effective immediately, the deposit and withdrawal of PLA tokens on Binance have been suspended and will no longer be supported. The cryptocurrency exchange advises users to refrain from depositing or withdrawing PLA tokens until the next announcement. Binance will cover all technical requirements for the token swap for its users.
As part of the token swap, PLA tokens will be converted on Binance at a 1:1 conversion rate to receive the PDA ticker. This means that one PLA token will be equivalent to one PDA token on the Binance platform. The smart contract address for PDA tokens will be ERC-20 compatible and will ensure compatibility with the Ethereum Blockchain.
All PLA Trading Pairs to Be Delisted from Spot Market
In preparation for the token swap, Binance will delist all PLA trading pairs from the spot market, including PLA/BTC and PLA/USDT, starting from 26 February 2024 at 06:00 AM local time. All pending PLA spot trading orders will be canceled at this time.
In addition, Binance will terminate Trading Bots services for the affected spot trading pairs and advises users to update or cancel their trading bots to prevent potential losses.
Following the delisting of PLA trading pairs from the spot market, trading for the new PDA/BTC and PDA/USDT trading pairs will commence on 1 March 2024 at 11:00 AM local time. This will allow users to seamlessly buy and sell the newly swapped PDA tokens on the Binance platform.
