Binance, one of the world’s leading cryptocurrency exchanges, officially announced that it supports the rebranding of TomoChain (TOMO) as Viction (VIC). To facilitate this transition, the exchange will take various actions affecting TOMO trading pairs, deposits and withdrawals, and more.
Binance made an announcement for TOMO
Binance will suspend TOMO deposits and withdrawals on November 20, 2023 at 06:30 UTC. Users are advised to complete the necessary transactions before this time. Following the rebranding event, Binance will make a separate announcement to notify users when VIC deposits and withdrawals will be opened. Binance will meet all technical requirements for users involved in this process. TOMO tokens will receive the new ticker symbol VIC on Binance, indicating the completion of the rebranding process.
Binance will delist all existing TOMO spot trading pairs, including TOMO/BTC, TOMO/TRY, and TOMO/USDT, at 06:00 UTC on November 20, 2023. In addition, all pending TOMO spot trading orders will also be canceled at this time. Binance will also discontinue Trading Bots services for the above-mentioned spot trading pairs and urge users to update or cancel their trading bots to avoid possible losses. However, trading will resume for spot trading pairs VIC/BTC, VIC/TRY and VIC/USDT on November 24, 2023 at 11:00 AM ET.
What about futures trading?
Binance Futures will suspend trading for the USDT-Margined TOMO perpetual futures contract at 11:30 UTC on November 14, 2023. Users will have the opportunity to close their existing positions after this time. Then, at 12:00 PM, Binance Futures will close all positions, perform an automatic settlement, and delist the USDT-Margined TOMO perpetual futures contract. A separate announcement will be made for the relisting, and Binance Futures will likely implement additional protective measures, including margin tier adjustments, funding rate updates, and more.
Binance will suspend TOMO/USDT cross and isolated margin borrowings starting at 09:00 UTC on November 7, 2023. On November 16, 2023, at 09:00, Binance will close users’ positions, perform an automatic settlement, and cancel pending orders on the TOMO/USDT cross and isolated margin pair. Unpaid TOMO cross-margin and isolated margin loans may result in the sale of TOMO assets held in user accounts. A separate announcement will be made for the relisting process. In other news, Binance Simple Earn will stop supporting TOMO Simple Earn Flexible and Locked Products as of November 7, 2023 at 09:00 UTC. It will then reboot for VIC.
price rose
With this development, as of November 6, 2023, the TOMO token experienced significant growth, rising above $ 1.43 and currently trading at $ 1.49, increasing by more than 10 percent in the last 5 minutes. This increase follows Binance’s report of support for TomoChain’s rebranding as Viction.
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