Aragon (ANT) Holders to Redeem Tokens for Ethereum (ETH) via Binance
The post Aragon (ANT) Holders to Redeem Tokens for Ethereum (ETH) via Binance appeared on BitcoinEthereumNews.com.
Luisa Crawford Oct 24, 2024 13:28 Aragon Association allows ANT holders to redeem tokens for ETH at a fixed rate through Binance. The redemption process will be completed by November 8, 2024. In a significant move for Aragon (ANT) token holders, the Aragon Association has announced a redemption process allowing them to exchange their tokens for Ethereum (ETH) at a fixed rate. This follows the association’s decision to liquidate most of its treasury as part of its dissolution process, according to Binance. Redemption Process Details The redemption process will be facilitated by Binance, one of the largest cryptocurrency exchanges. ANT holders will be able to redeem their tokens at a fixed rate of 0.0025376 ETH per ANT. Binance will automatically convert ANT balances held in user accounts to ETH after October 27, 2024, at 23:59 UTC. The corresponding ETH will be credited to users by November 8, 2024, at 23:59 UTC. Action Required from ANT Holders Users who do not wish to participate in the redemption process must withdraw their ANT tokens before the deadline on October 27, 2024. Post this date, withdrawals will no longer be possible, and ANT deposits will not be credited to user accounts. Only users with existing ANT balances after the deadline will be affected by the redemption. Implications for the Aragon Community The decision to liquidate the treasury and offer ETH in return for ANT marks a pivotal moment for the Aragon community, which has been integral to the development of decentralized governance systems. This move may influence the future of similar projects considering treasury management and dissolution strategies. Market Impact and User Guidance While the redemption process is underway, users are advised to carefully assess their investment decisions, considering the inherent risks associated with digital assets. Binance emphasizes that prices are subject to…
Filed under: News - @ October 24, 2024 3:25 pm