In Response to Binance.US
Additional context on their announcement regarding HNT
On Monday, March 13, 2023, Binance.US announced that it plans to delist the HNT/USD and HNT/USDT trading pairs on March 21, 2023 in advance of the Solana migration. For the safety of all the participants in the Helium ecosystem, Binance.US customers should consider taking custody of their HNT using the open source Helium Wallet app or migrate to one of the other 20+ venues that currently support HNT trading pairs.
While the Helium Foundation is disappointed that Binance.US has decided to take this action in advance of the migration, we understand their position. Helium’s migration to Solana is significant, and a first for the industry — on par with Ethereum’s transition from proof of work to proof of stake. Over the last several months the Helium Foundation has worked closely with core development teams within the Helium community, the Solana community, and the Solana Foundation to ensure the migration is successful and completed on time.
The Helium Foundation will remain in close contact with Binance.US and continue to educate them about the network’s core initiatives and development roadmap. The Foundation remains committed to the migration, which will radically scale network utility and help direct more resources towards our ultimate goal: a ubiquitous, affordable communication layer for all people and devices.
Immediately following the migration, the Helium Wallet app will support native subDAO token redemption (as outlined in HIP 70) as well as other integrations within Solana DeFi platforms, unlocking more decentralized trading venues for HNT. We’re excited to move forward with the migration with the full support of our community through the Upgrade Readiness Working Group, the Solana Foundation, and other ecosystem projects including Clockwork, Helius, Jupiter Aggregator, Metaplex, Pyth, Sec3, Squads, Switchboard, and more.
Onward.
