NuCypher (NU) and Keep Network (KEEP) Token Merge

Binance will support the NuCypher (NU) and Keep Network (KEEP) token merger plan. The specific arrangements are as follows:

Binance leveraged trading platform will suspend the lending business of NU/USDT, NU/BUSD, KEEP/USDT, KEEP/BUSD, KEEP/BTC isolated margin leverage at 10:00 on February 10, 2022 (East 8th district time), and KEEP/USDT, KEEP/BUSD, KEEP/BTC cross-margin leveraged lending services.

Binance Futures will adjust the maximum leverage of KEEP/USDT perpetual contracts to 25 times at 14:00 on February 10, 2022 (East 8th zone time). (Note: Existing positions will not be affected). For details, please refer to : Leverage and Margin and Trading Rules page of U-margined contracts.

Binance leveraged trading platform will automatically close and liquidate NU and KEEP leveraged positions, cancel all pending orders, and delist NU/USDT, NU/BUSD, KEEP at 10:00 on February 15, 2022 (East 8th district time). /USDT, KEEP/BUSD, KEEP/BTC isolated trading pairs, and KEEP/USDT, KEEP/BUSD, KEEP/BTC cross-margin trading pairs, the launch time of T leverage trading pairs will be announced separately.

Binance Futures will automatically close and liquidate NU/USDT and KEEP/USDT perpetual contract positions at 10:00 on February 15, 2022 (East 8th district time), and cancel all pending orders, which will be delisted after the liquidation is completed. For this contract trading pair ( contract delisting process ), the listing time of T perpetual contract will be announced separately. Please note that due to extreme market conditions or price source deviations, Binance Futures will take additional protective measures, including but not limited to adjusting leverage and margin (including maximum leverage for each level, position limit, and maintenance margin rate), adjust the funding rate (including the base interest rate, premium index, and rate cap), change the price index components or use the ” latest transaction price protection mechanism ” to update the mark price. For details, please refer to: mark price of perpetual contracts.

At 14:00 on February 15, 2022 (East Eighth District time), NU and KEEP current Binance products will be delisted. At that time, the unredeemed assets will be automatically redeemed and returned to the user’s spot account on the same day. Binance will calculate the revenue based on the time and quantity of the user’s purchase of NU and KEEP current Binance treasure products, and complete the distribution before the products are delisted.

Binance will suspend the deposit and withdrawal of NuCypher (NU) and Keep Network (KEEP) tokens at 10:00 on February 16, 2022 (East 8th District Time). Note: NU and KEEP tokens recharged thereafter will not be credited, please recharge in advance.

Binance will stop trading and delist all NU and KEEP spot trading pairs (NU/USDT, NU/BUSD, NU/RUB, NU/BNB, NU/ BTC, NU/AUD, KEEP/USDT, KEEP/BUSD, KEEP/BNB, KEEP/BTC), all pending orders will be cancelled.

After that, Binance will take a snapshot of the user’s NU and KEEP holdings, and start issuing T tokens according to the exchange ratio of 1 NU = 3.26 T and 1 KEEP = 4.78 T.

T/USDT and T/BUSD spot trading will be opened at 12:00 on February 25, 2022 (East Eighth District time).

After the token merger is completed, the opening time of T token deposit and withdrawal will be announced separately.

This token merger may dilute the value of the tokens held by NuCypher (NU) or Keep Network (Keep) holders, depending on the relative prices of the two tokens.

The recharge of NuCypher (NU) and Keep Network (Keep) tokens after 10:00 on February 16, 2022 (East 8th district time) will not be credited, and will only be displayed after the spot transaction of T tokens is opened.

After the spot trading pair of NU and KEEP is delisted, the balance of NU and KEEP can be restored at any point in time. Rest assured that your assets are safe.

The distribution of token T will be completed before 11:30 (East 8th District Time) on February 25, 2022 at the latest.

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