The countdown is over. Binance is officially supporting the Frontier to Self Chain transition. Are you ready for this new chapter which starts tomorrow?
In a significant update for the crypto community, Binance announced its support for the Frontier (FRONT) token swap and rebranding to Self Chain (SLF), on August 19.
Tomorrow onwards: This transition will see the FRONT tokens assume the SLF ticker on Binance, with all existing FRONT tokens being swapped on a 1:1 ratio to SLF tokens.
So, what can you expect from SLF?
Self Chain introduces a revolutionary approach to blockchain with its Modular Intent-Centric Access Layer1 and keyless wallet infrastructure. By using MPC-TSS/AA and leveraging LLM to interpret user intent, it simplifies multi-chain Web3 access while ensuring secure, self-custodial asset management.
The platform also rewards dApps that efficiently fulfill user intents, enhancing the overall experience. Additionally, it offers features like Account Abstraction for secure signing and reduced transaction fees.
On August 27, 2024, at 03:00 (UTC), Binance delisted all FRONT spot trading pairs, including FRONT/BTC, FRONT/TRY, FRONT/USDC, and FRONT/USDT. Users were advised to cancel any pending FRONT spot trading orders before this time, as all orders will be automatically removed once trading ceases.
In addition to the delisting, Binance suspended deposits and withdrawals of FRONT tokens from 03:30 (UTC) on August 27, 2024. Users were encouraged to complete any FRONT token deposits well before this deadline.
Binance will notify users when deposits and withdrawals for SLF tokens are available, following the completion of the token swap.
The relisting of the new SLF trading pairs—SLF/BTC, SLF/TRY, SLF/USDC, and SLF/USDT—is scheduled to begin on August 30, 2024, at 08:00 (UTC).
Futures and margin trading for FRONT are also be affected. On August 23, 2024, at 09:00 (UTC), Binance Futures closed all positions on FRONTUSDT USDⓈ-M Perpetual Contracts and conducted an automatic settlement, after which these contracts were delisted.
Similarly, Binance Margin delisted FRONT from both cross and isolated margin at 10:00 (UTC) on the same day.
Other Binance services, including VIP Loans, Simple Earn, and Auto-Invest, also saw adjustments. For instance, Simple Earn ceased support for FRONT Flexible Products on August 26, 2024, and FRONT was removed from Binance Pay on August 23, 2024.
Additionally, all outstanding FRONT loans under the Binance VIP Loan were closed on August 22, 2024.In other latest crypto news, three crypto investors filed a lawsuit against Binance and its former CEO Changpeng “CZ” Zhao accusing the crypto exchange of allowing criminals to use its platform to obscure the trail between the stolen assets and their original digital wallets, making them untraceable.
