- Binance.US is delisting HNT trading pairs ahead of Helium’s migration to Solana.
- The Helium Foundation is disappointed but remains committed to the migration.
- Helium’s migration to Solana is poised to scale network utility.
One of the largest cryptocurrency exchanges in the United States Binance.US is amidst a series of periodic reviews to ensure that all listed digital assets continue to “meet the standard of excellence” expected.
On March 13th, 2023, Binance.US, announced the delisting of the HNT/USD and HNT/USDT trading pairs from March 21st.
The move comes ahead of the Helium (HNT) network’s migration to Solana, a process that the Helium Foundation has worked on for several months.
Binance.US customers are advised to consider taking custody of their HNT assets using the open-source Helium Wallet app or to migrate to one of the other 20+ venues currently supporting HNT trading pairs.
Binance Leaves Helium “Disappointed”
The Helium Foundation is expressing its disappointment with Binance.US’s decision to delist the HNT trading pairs.
The Foundation has been working closely with the Solana community, the Solana Foundation, and other ecosystem projects to ensure the migration is successful and completed on time.
Following the migration, the Helium Wallet app will support native subDAO token redemption, as outlined in HIP 70, and other integrations within Solana decentralized finance (DeFi) platforms, unlocking more decentralized trading venues for HNT.
The Helium Foundation remains committed to the migration and will continue to educate Binance.US about the network’s core initiatives and development roadmap.
PoW to PoS
Helium’s migration to Solana is a significant event for the network, as it is on par with Ethereum’s transition from Proof of Work (PoW) to Proof of Stake (PoS).
The transition was a major milestone for the Ethereum (ETH) network, which is currently claiming the #2 rank by market capitalization.
The Helium migration is expected to scale network utility and help direct more resources toward the Helium Foundation’s ultimate goal of creating a ubiquitous, affordable communication layer for all people and devices.
In light of the Binance.US delisting announcement, HNT is trading at $2.08 USD at the time of writing, recording a 7% dip over the past 24 hours.
On the Flipside
- Binance.US has delisted HNT trading pairs once before in October, 2022.
- The official Helium Network migration will occur on March 27th.
Why You Should Care
Helium’s Solana migration is set to be the most significant upgrade to the Helium network in terms of scalability and reliability.
Read more about the cross-over of Solana and Helium
Solana (SOL) Rockets 30% in Light of Helium Migration
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Source link: https://dailycoin.com/helium-foundation-urges-safe-custody-of-hnt-trading-pairs/
