BNB Beacon Chain (BEP2) will cease in a few months

The BNB Beacon Chain (BEP2) is expected to collapse within the following months completely. Binance assists users by providing support for the BEP2 network and facilitating the transition process. The project team formally proclaimed this in January of 2024.

Binance has proactively established connections with all registered projects with tokens listed on the BEP2 network. The objective is to determine whether or not they effectively commence a continuous shifting procedure in the presence of their token holders.

Users are strongly advised to deposit BEP2 Binance-pegged tokens, or B-tokens, into their Binance accounts before the BEP2 network goes offline. After the tokens have been credited, users will be able to withdraw them using Binance’s native chain or through any other chains that are supported by the platform.

Users should take note of a few key points, namely the fact that withdrawals of B-tokens from the aforementioned network are suspended effective immediately as a result of this operation.  With regard to additional tokens present on the network, security for all withdrawals will be provided until February 21st, 2024.

Users will no longer be able to withdraw tokens through the network after that date, as it will no longer be applicable. The transfer process should be started as soon as possible, according to the regular advice given to users.

Until informed otherwise, the process will receive sufficient backing when B-tokens are deposited alongside other tokens on the network.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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