Binance will support the upcoming Steem hard fork initiated by the Hive.io team and will distribute the new HIVE token to users holding STEEM. The hard fork is expected to take place at 2020/03/20 2:00 PM (UTC).
We will take a snapshot of all STEEM tokens held by Binance users at the time of the fina Steem block prior to 2020/03/20 2:00 PM (UTC) and will distribute HIVE tokens at a ratio of 1 STEEM = 1 HIVE. STEEM deposits and withdrawals will be suspended starting from 2020/03/20 1:30 PM (UTC) and will reopen after the hard fork is complete. Please note that trading of STEEM will not be affected during the hard fork.
- STEEM tokens that are pending deposit or withdrawal at the time of the snapshot will not count towards your STEEM balance. Please ensure you leave sufficient time for deposits and withdrawals to complete prior to the snapshot.
- STEEM balances under 1 STEEM (including those in trade orders) will not be eligible to receive the HIVE token.
- STEEM tokens held in sub-accounts will be combined into the corresponding master account. Sub-accounts will not separately receive any HIVE tokens.
- For the trading and listing of HIVE on Binance, HIVE will go through the same strict listing review process as Binance does for any other coin/token. Supporting this hard fork does not guarantee the listing of HIVE.
- HIVE tokens will be distributed to users and withdrawals will open once the forked blockchain is deemed to be stable and secure.
For more information on the STEEM upgrade and hard fork, please refer to the following post: Announcing the Launch of Hive Blockchain.
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