Binance Announcement
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Updates on AEUR Spot Trading (2023-12-06)
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
As AEUR has been well received by the community, including users who might not have realized its standing as a stablecoin, there was a strong demand for AEUR, which resulted in its price deviation.
Binance has in place 24/7 market monitoring and promptly suspended trading for AEUR/USDT, BTC/AEUR, ETH/AEUR and EUR/AEUR spot trading pairs at 2023-12-05 18:31:59 (UTC) when the price deviation occurred to protect its users. A separate announcement will be posted when trading resumes for the above-mentioned AEUR spot trading pairs.
In line with its user-first mentality, Binance will facilitate and implement the AEUR project team’s compensation plan for impacted users within 72 hours of this announcement.
Compensation Eligibility:
Users who purchased AEUR via the AEUR/USDT, BTC/AEUR, ETH/AEUR and EUR/AEUR spot trading pairs between 2023-12-05 17:41:16 (UTC) and 2023-12-05 18:31:59 (UTC) (hereinafter referred to as “Compensation Period”), and did not manage to successfully sell their AEUR holdings on Binance Spot before 2023-12-05 18:31:59 (UTC) will be eligible for compensation.Eligible users’ net AEUR purchase amount during the Compensation Period will count toward the calculation of their respective compensation. The calculation will be based on the price of AEUR on Binance Spot at 2023-12-05 17:41 (UTC) (i.e., 1.07999 USDT per AEUR).
Compensation Calculation:
Compensation per eligible user = User’s net AEUR purchase amount * (User’s average AEUR purchasing price - 1.07999 USDT)Net AEUR purchase amount = Total amount of AEUR purchased on Binance Spot during the Compensation Period - Total amount of AEUR sold on Binance Spot during the Compensation PeriodAverage AEUR purchasing price = The total USDT equivalent amount used to purchase AEUR on Binance Spot during the Compensation Period / Total amount of AEUR purchased on Binance Spot during the Compensation PeriodExample: During the Compensation Period, User A purchased 50 AEUR using the AEUR/USDT spot trading pair when AEUR price reached 2.5 USDT, and sold 5 AEUR using the AEUR/USDT spot trading pair when AEUR price reached 2.8 USDT. Therefore, the total compensation that User A will receive = (50 - 5) * (2.5 USDT - 1.07999 USDT) = 63.9 USDTDuring the Compensation Period, User B purchased 100 AEUR using the BTC/AEUR spot trading pair when the BTC price reached 26,000 AEUR, and sold 10 AEUR using the BTC/AEUR spot trading pair when the BTC price reached 30,000 AEUR. At the time of User B’s AEUR purchase, the price of BTC was 43,600 USDT equivalent. Therefore: User B’s net AEUR purchase amount = (100 - 10) AEUR = 90 AEURUser B’s average AEUR purchasing price = [(100 AEUR / 26,000 AEUR) * 43,600 USDT] / 100 AEUR = 1.6769 USDTThe total compensation that User B will receive = 90 * (1.6769 USDT - 1.07999 USDT) = 53.7219 USDT
Compensation Distribution:
Eligible users will receive compensation in the form of USDT token vouchers by 2023-12-09. Users can login and redeem their token vouchers via Profile > Rewards Hub.All the distributed token vouchers will expire within 90 calendar days after distribution. Eligible users should claim their vouchers before the expiration date. If expired, vouchers will not be redistributed.
For More Information:
AEUR Spot Trading Temporarily SuspendedWhat Are Binance Vouchers and How to Redeem
We are convinced that the future of this industry counts on the joint efforts of the community, and every contributor is indispensable in building a healthy and flourishing blockchain industry. Binance would not have achieved what we have today without the support of our users, and we have always been growing together with our community. What we have experienced in the past only makes us stronger in the future. Thanks for your unwavering support. We look forward to your feedback and suggestions!
Note: Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
2023-12-06
Note: This announcement was updated on 2023-12-07 to extend the validity period of vouchers. It was previously updated on 2023-12-06 to add more clarifications.
Fellow Binancians,
As AEUR has been well received by the community, including users who might not have realized its standing as a stablecoin, there was a strong demand for AEUR, which resulted in its price deviation.
Binance has in place 24/7 market monitoring and promptly suspended trading for AEUR/USDT, BTC/AEUR, ETH/AEUR and EUR/AEUR spot trading pairs at 2023-12-05 18:31:59 (UTC) when the price deviation occurred to protect its users. A separate announcement will be posted when trading resumes for the above-mentioned AEUR spot trading pairs.
In line with its user-first mentality, Binance will facilitate and implement the AEUR project team’s compensation plan for impacted users within 72 hours of this announcement.
Compensation Eligibility:
Users who purchased AEUR via the AEUR/USDT, BTC/AEUR, ETH/AEUR and EUR/AEUR spot trading pairs between 2023-12-05 17:41:16 (UTC) and 2023-12-05 18:31:59 (UTC) (hereinafter referred to as “Compensation Period”), and did not manage to successfully sell their AEUR holdings on Binance Spot before 2023-12-05 18:31:59 (UTC) will be eligible for compensation.Eligible users’ net AEUR purchase amount during the Compensation Period will count toward the calculation of their respective compensation. The calculation will be based on the price of AEUR on Binance Spot at 2023-12-05 17:41 (UTC) (i.e., 1.07999 USDT per AEUR).
Compensation Calculation:
Compensation per eligible user = User’s net AEUR purchase amount * (User’s average AEUR purchasing price - 1.07999 USDT)Net AEUR purchase amount = Total amount of AEUR purchased on Binance Spot during the Compensation Period - Total amount of AEUR sold on Binance Spot during the Compensation PeriodAverage AEUR purchasing price = The total USDT equivalent amount used to purchase AEUR on Binance Spot during the Compensation Period / Total amount of AEUR purchased on Binance Spot during the Compensation PeriodExample: During the Compensation Period, User A purchased 50 AEUR using the AEUR/USDT spot trading pair when AEUR price reached 2.5 USDT, and sold 5 AEUR using the AEUR/USDT spot trading pair when AEUR price reached 2.8 USDT. Therefore, the total compensation that User A will receive = (50 - 5) * (2.5 USDT - 1.07999 USDT) = 63.9 USDTDuring the Compensation Period, User B purchased 100 AEUR using the BTC/AEUR spot trading pair when the BTC price reached 26,000 AEUR, and sold 10 AEUR using the BTC/AEUR spot trading pair when the BTC price reached 30,000 AEUR. At the time of User B’s AEUR purchase, the price of BTC was 43,600 USDT equivalent. Therefore: User B’s net AEUR purchase amount = (100 - 10) AEUR = 90 AEURUser B’s average AEUR purchasing price = [(100 AEUR / 26,000 AEUR) * 43,600 USDT] / 100 AEUR = 1.6769 USDTThe total compensation that User B will receive = 90 * (1.6769 USDT - 1.07999 USDT) = 53.7219 USDT
Compensation Distribution:
Eligible users will receive compensation in the form of USDT token vouchers by 2023-12-09. Users can login and redeem their token vouchers via Profile > Rewards Hub.All the distributed token vouchers will expire within 90 calendar days after distribution. Eligible users should claim their vouchers before the expiration date. If expired, vouchers will not be redistributed.
For More Information:
AEUR Spot Trading Temporarily SuspendedWhat Are Binance Vouchers and How to Redeem
We are convinced that the future of this industry counts on the joint efforts of the community, and every contributor is indispensable in building a healthy and flourishing blockchain industry. Binance would not have achieved what we have today without the support of our users, and we have always been growing together with our community. What we have experienced in the past only makes us stronger in the future. Thanks for your unwavering support. We look forward to your feedback and suggestions!
Note: Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
2023-12-06
Note: This announcement was updated on 2023-12-07 to extend the validity period of vouchers. It was previously updated on 2023-12-06 to add more clarifications.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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