Binance, the world's largest cryptocurrency exchange, announced that it will delete four digital tokens from its platform. These tokens include Alpaca Finance (ALPACA), PlayDapp (PDA), Wing Finance (WING), and Viberate (VIB).
The three tokens PDA, WING, and VIB experienced a significant decline in their value immediately after the announcement of the deletion. However, ALPACA went against this trend, recording an increase in its value despite the impending deletion announcement from the platform.
Deletion details and their timelines
According to the official announcement, the deletion decision will take effect on May 2 at 03:00 AM GMT. Starting from May 3, users will not be able to deposit these tokens on the Binance platform.
Additionally, the ability to withdraw these tokens will be halted after July 4. Finally, all open positions related to these tokens on Binance Futures will be closed on April 30.
This decision is part of the periodic review process carried out by Binance, which evaluates digital tokens based on several factors such as trading volume, liquidity, project team activity, compliance with regulatory requirements, and more. The platform stated that these tokens no longer meet the required standards, prompting the decision to delete them.
Motivations for the decision and platform statements
Binance clarified in its statement: When one of the currencies or tokens does not meet our standards, or when the industry environment changes, we conduct a thorough review and may decide to delete the asset. Our priority is to ensure we provide the best services and protection for our users while continuing to adapt to the changing market dynamics.
This step came shortly after the end of the second round of the deletion voting campaign, where 8.2% of participants voted in favor of deleting the PDA token. Meanwhile, the ALPACA token received 6.3% of the votes, and the WING token received 3.8%. The VIB token was not included among the seventeen tokens that were part of the community voting.
Notably, the FTX Token (FTT) received the highest percentage of votes at 11.1%, but Binance did not include it in its latest list of tokens to be deleted.
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