Binance to Support Galxe (GAL) Token Swap and Rebranding to Gravity (G)

Blockonomics
Binance to Support Galxe (GAL) Token Swap and Rebranding to Gravity (G)
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Binance, a leading cryptocurrency exchange, has announced its support for the Galxe (GAL) token swap, redenomination, and rebranding to Gravity (G). This transition will involve several critical dates and actions for users holding GAL tokens, according to the official announcement.

Key Dates and Actions

On July 15, 2024, at 03:00 (UTC), Binance will delist all existing GAL spot trading pairs, including GAL/BTC, GAL/USDT, and GAL/TRY, and cancel all pending GAL spot trading orders. Subsequently, on July 19, 2024, at 08:00 (UTC), trading will commence for the new G/USDT and G/TRY pairs.

Deposits and Withdrawals

Deposits and withdrawals of GAL will be suspended on July 15, 2024, at 03:30 (UTC). Binance will notify users when deposits and withdrawals of the new Gravity (G) tokens will be available. Post-event, withdrawals of GAL tokens will no longer be supported.

Spot Trading

All GAL spot trading pairs will be delisted at 03:00 (UTC) on July 15, 2024. Users should update or cancel their Trading Bots and Spot Copy Trading portfolios before the cessation to avoid potential losses. Trading for G/USDT and G/TRY pairs will open on July 19, 2024, at 08:00 (UTC).

Tokenmetrics

Futures and Margin Trading

Binance Futures will close all positions and conduct an automatic settlement on the GALUSDT USDⓈ-M Perpetual Contracts on July 11, 2024, at 09:00 (UTC). Margin trading users are advised to close their positions and transfer their assets from Margin Wallet to Spot Wallet by July 11, 2024, at 12:00 (UTC) to avoid potential losses.

Loans and Earn Products

From July 11, 2024, at 03:00 (UTC), Binance Loans will close all outstanding loan positions for GAL. Simple Earn will cease support for GAL products on July 12, 2024, at 03:00 (UTC), with automatic redemption and resubscription for G Flexible Products post-event.

For more detailed information, users can refer to the official announcement on Binance’s website.

Image source: Shutterstock



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