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Binance will support the RAMP (RAMP) token swap, redenomination and rebranding plan to LeverFi (LEVER).

Timeline:

  • At 29.06.2022 9:30 AM, Binance will suspend RAMP/USDT, RAMP/BUSD, and RAMP/BTC isolated margin borrowing.
  • At 01.07.2022 9:30 AM, Binance will close all RAMP margin positions, conduct an automatic settlement and cancel all pending RAMP margin orders, and then delist the RAMP/USDT, RAMP/BUSD, and RAMP/BTC isolated margin trading pairs. A separate announcement will be made for relisting.
  • At 01.07.2022 9:30 AM, Binance Staking will cease support for RAMP Locked Staking. Subscriptions to RAMP Locked Staking will no longer be available. Staked RAMP and accumulated rewards as of 01.07.2022 5:30 AM will be automatically redeemed and credited to users’ spot wallets before 04.07.2022 5:30 AM.
  • At 01.07.2022 9:30 AM, Binance Liquid Swap will close the RAMP/BUSD liquidity pool, and automatically redeem all users’ assets from the RAMP/BUSD liquidity pool to their spot wallets. Please redeem your assets from the RAMP/BUSD liquidity pool if you have positions.
  • At 04.07.2022 9:30 AM, Binance will delist all existing RAMP spot trading pairs (RAMP/USDT, RAMP/BUSD, and RAMP/BTC) and cancel all pending RAMP spot trade orders.
  • At 04.07.2022 10:00 AM, deposits and withdrawals of RAMP will be suspended. Please ensure that you leave sufficient time for your RAMP deposits to be fully processed prior to this time.
  • At 13.07.2022 9:30 AM, trading will open for LEVER/USDT and LEVER/BUSD spot trading pairs.

Details of Token Swap:

  • Binance will recover all RAMP balances, and begin the distribution of LEVER to all eligible users at a ratio of 1 RAMP = 35 LEVER before spot trading for LEVER/USDT and LEVER/BUSD trading pairs are open.
  • Binance will make a separate announcement after the token swap is complete to notify users when deposits and withdrawals of LEVER will be opened.
  • The ownership percentage of existing RAMP holders will not be diluted with the token swap, as there will be no minting of additional tokens.
  • The maximum token supply of LEVER will be 35 billion, with the same token emission schedule as RAMP.

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