Cryptocurrency exchange Binance has announced its support for the rebranding of popular altcoin TomoChain (TOMO) as Viction (VIC). As a result, TOMO deposit and withdrawal transactions will be suspended on November 20th. Here are the critical steps that Binance will take regarding TomoChain’s rebranding process and what investors need to know.
Spot TOMO Trading to be Halted Alongside Deposit and Withdrawal Transactions
Leading cryptocurrency exchange Binance will support the rebranding of TomoChain (TOMO) as Viction (VIC). As part of this support, significant changes will be made across various platforms, from spot trading to futures and margin trading.
To support the rebranding, Binance will first suspend TOMO deposit and withdrawal transactions at 06:00 AM GMT on November 20th. Users must have completed their deposit and withdrawal transactions by the specified time. On November 20th at 06:00 AM GMT, Binance will delist all TOMO trading pairs (TOMO/BTC, TOMO/TRY, and TOMO/USDT) on Spot and cancel all pending spot trading orders for TOMO. After the completion of the rebranding process, spot trading for VIC/BTC, VIC/TRY, and VIC/USDT trading pairs will commence at 11:00 AM GMT on November 24th.
Furthermore, TOMO trading on futures and margin trading will be halted on November 14th at 11:30 AM GMT and November 7th at 09:00 AM GMT, respectively. Binance Futures will automatically settle all user positions for TOMO at 12:00 PM GMT on November 14th. On the other hand, Binance Margin will automatically settle user positions for TOMO at 09:00 AM GMT on November 16th.
TOMO Trading to be Suspended in Other Binance Services such as Binance Loan
Additionally, TOMO transactions in other services offered by Binance will be affected by the rebranding process. Therefore, all transactions related to the altcoin in Binance Earn, Binance Pay, Binance Loan, and Binance Gift Card will be suspended.
TOMO transactions in Binance Earn will be halted at 09:00 AM GMT on November 7th. As for Binance Loan, Binance Pay, and Binance Gift Card, transactions will be suspended at 11:00 AM GMT on November 9th, 06:00 AM GMT on November 20th, and 06:00 AM GMT on November 20th, respectively.
