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The cryptocurrency exchange Binance has announced its support for the rebranding of Litentry (LIT) to Heima (HEI) and the associated coin swap. This transition will involve significant changes for users, including an increase in the circulating supply of HEI coins from 66 million to 100 million over the next 20 months.
LIT Coin Trading to Be Permanently Halted
As part of the rebranding and coin swap support, Binance will first remove existing LIT/BTC and LIT/USDT trading pairs on February 10, 2025, at 06:00 (UTC). All pending orders will be canceled. The trading pairs for HEI coins against BTC and USDT will become available on February 13, 2025, at 11:00 (UTC). Users are advised to update their trading bots and orders before these dates.
Starting from the specified dates, LIT coin deposits and withdrawals will be permanently halted. HEI coin deposits will commence on February 13, 2025, at 10:00 (UTC). Binance will make a new announcement regarding withdrawals after the process is completed.
Other Services for the Altcoin Will Also Be Affected
Additionally, Binance Futures will automatically terminate LITUSDT futures contracts on January 31, 2025, at 09:00 (UTC). Users are recommended to close their positions before this date. Binance Margin will also end margin trading for LIT coin on February 6, 2025. All debts will be settled, and users are advised to transfer their assets to their spot wallets.
Binance further stated that coins from margin accounts will automatically convert to USDT, ensuring that the entire technical process will require no extra effort from users. Furthermore, services such as Simple Earn, Auto-Invest, and Gift Card for LIT coin will also be discontinued, along with features like Binance Pay and Convert Low-Value Assets. Users are encouraged to update their existing plans and assets before these changes take effect.
