Binance.US has recently declared its plans to delist the HNT/USD and HNT/USDT trading pairs on March 21, 2023, ahead of the anticipated Solana migration. This move, while causing disappointment to the Helium Foundation, is understandable given the significance of the upcoming migration, which is comparable to Ethereum’s transition from proof of work to proof of stake.
Over the past several months, the Helium Foundation has collaborated closely with core development teams within the Helium community, the Solana community, and the Solana Foundation to ensure the migration’s success and completion on schedule. For the safety of all participants in the Helium ecosystem, Binance.US customers are encouraged to take custody of their HNT using the open-source Helium Wallet app or migrate to one of the other 20+ venues that currently support HNT trading pairs.
The Foundation Remains Committed to the Migration
As per the latest announcement, the Helium Foundation will maintain close communication with Binance.US and will continue to educate them about the network’s core initiatives and development roadmap. The foundation remains committed to the migration, which will considerably increase network utility and help allocate more resources toward the ultimate objective.
This includes a pervasive, cost-effective communication layer for all people and devices. As per the official statement, the Helium Wallet app will immediately support native subDAO token redemption (as described in HIP 70) as well as other integrations within Solana DeFi platforms following the migration, opening up more decentralized trading venues for HNT.
The Helium Foundation stated that it is thrilled to progress with the migration with the full support of its community through the Upgrade Readiness Working Group, the Solana Foundation, and other ecosystem projects, including Clockwork, Helius, Jupiter Aggregator, Metaplex, Pyth, Sec3, Squads, Switchboard, and more. Overall, Binance.US’s decision to delist the HNT/USD and HNT/USDT trading pairs may be disappointing.
However, it is necessary for the safety and success of the Helium ecosystem. The Helium Foundation remains committed to migration, which is a significant step towards achieving a ubiquitous, affordable communication layer for all people and devices. With the full support of the community, the Upgrade Readiness Working Group, the Solana Foundation, and other ecosystem projects, the Helium Foundation is excited to unlock more decentralized trading venues for HNT.