TL;DR
- Binance will support the swap and rebranding of FRONT to SLF, with the delisting of FRONT trading pairs on August 27, 2024.
- New SLF/BTC, SLF/TRY, SLF/USDC, and SLF/USDT pairs will be available from August 30, 2024, with a swap rate of 1 FRONT = 1 SLF.
- Futures and margin products will close positions and settle accounts related to FRONT on August 23, 2024.
Binance has officially announced its support for the token swap and rebranding of Frontier (FRONT) to Self Chain (SLF). This update will take effect from August 27, 2024, when the exchange will proceed with the delisting of all FRONT trading pairs, including FRONT/BTC, FRONT/TRY, FRONT/USDC, and FRONT/USDT. Orders pending in these pairs will be canceled, and deposits and withdrawals of FRONT tokens will be suspended at 03:30 UTC on the same day.
From August 30, 2024, Binance will open new trading pairs for SLF, which will include SLF/BTC, SLF/TRY, SLF/USDC, and SLF/USDT. The rebranding and token swap will occur at a rate of 1 FRONT = 1 SLF. Users should ensure they process their FRONT deposits before the deadline to avoid any inconvenience.
Additionally, the exchange will undertake a series of actions related to its futures, margin, and loan products concerning FRONT tokens. On August 23, 2024, Binance Futures will close all positions in FRONTUSDT perpetual contracts and perform an automatic settlement. On the same day, margin products involving FRONT will be delisted, and positions will be automatically liquidated. FRONT loans will also be closed on the specified date, and users are advised to repay any outstanding loans before this date to avoid losses.
Binance Drives Up Frontier (FTR) Price
The Binance announcement has had an immediate impact on the market, with a notable 11% increase in the price of FRONT following the news. Its current value is $0.7022, and its market capitalization reached $63 million.
Binance will continue to provide support during the transition, including updates to its Earn and Pay services, which will also be affected by the change. Simple Earn products will cease to support FRONT flexible products from August 26, 2024, with balances being redeemed and credited to users’ Spot Wallets. The payment platform will also discontinue support for FRONT on specific dates.
