Due to unpredicted market volatility, Binance briefly suspended the EURO-pegged stablecoin $AEUR trading on December 5 to protect its users. This quick move protected users from price swings. Binance will implement the AEUR project team’s compensation plan within 72 hours after the announcement. The main goal is to help users affected by the trade termination. A record community demand for $AEUR triggered the trading suspension.
Binance Backs AEUR Compensation Plan Within 72 Hours
Binance is famous for its 24/7 market monitoring across the globe. It quickly detected the odd price change. At 2023-12-05 18:31:59 (UTC), $AEUR trading pairings AEUR/USDT, ETH/AEUR, BTC/AEUR, and EUR/AEUR were suspended as a precaution. When these $AEUR spot trading pairings restart, users will be notified by an official announcement.
In keeping with its user-centered approach, Binance is supporting the AEUR project team’s pay plan within 72 hours. Users who purchased $AEUR through the specified spot trading pairs between 2023-12-05 17:41:16 (UTC) and 2023-12-05 18:31:59 (UTC) are eligible for compensation under the “Compensation Period.” Users who failed to sell $AEUR on Binance Spot before the suspension are eligible for compensation.
Compensation is calculated using the net $AEUR purchase amount during the Compensation Period. Subtracting the total $AEUR sold from the sum purchased on Binance Spot during the Compensation Period yields this calculation. Additionally, the average $AEUR purchasing price is calculated by dividing the total USDT equivalent amount spent on $AEUR by the entire amount purchased.
User A bought 100 $AEUR during the Compensation Period and sold 10 $AEUR to demonstrate the compensation computation. Here, 90 $AEUR would be the net purchasing amount. Calculating the average $AEUR buying price requires totaling the costs.
Binance Issues USDT Token Coupons for Eligible Users
Eligible users will receive USDT token coupons by December 9, 2023. Token coupons expire 30 days after distribution, so be aware. To receive the full compensation package, eligible consumers should claim their coupons before they expire.
The quick response of Binance to $AEUR market volatility shows its dedication to consumer safety and happiness. The compensation strategy of Binance for affected users shows its commitment to addressing unexpected issues and ensuring trade security. Binance prioritizes user protection as the crypto landscape evolves. It demonstrates its dedication to developing confidence in the crypto community.
