Binance, a popular cryptocurrency exchange, has announced its support for the upcoming mainnet exchange of Metal DAO (MTL). In order to facilitate this transition, all deposits and withdrawals of the old MTL tokens will be temporarily suspended starting from 05:00 on June 24, 2024.
Users are advised to ensure that their transactions with the old MTL tokens are completed before the suspension takes effect. However, spot trading, margin trading, futures trading, and Binance Earn services will not be affected during the mainnet switch. Binance will handle all the technical requirements for the mainnet exchange on behalf of its users.
The swap process will convert all old MTL tokens into new MTL tokens at a 1:1 ratio. After the swap, deposits and withdrawals of the legacy MTL tokens will no longer be supported. Binance will release a separate announcement once the swap is complete, providing information on when the new MTL tokens can be deposited and withdrawn. For more details, users can refer to the official announcement from the project team.
This mainnet swap is a significant upgrade for Metal DAO, and Binance’s support ensures a smooth transition for all users involved. It’s important to note that this article does not provide investment advice.
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