Altcoins

Tron Founder Announces Two Important Updates from Binance and OKCoin

Founder and CEO of Tron, Justin Sun recently announced that Tron ERC20 tokens are now available for conversion on Binance platform. Sun posted the recent update on his official Twitter page on July 23 confirming that the major exchanger will automatically convert the ERC20 tokens to TRX20 tokens. 

The official post by Sun stated: “If you need to deposit ERC20 TRX tokens to Binance please send these tokens to your existing ETH deposit address. Binance will automatically convert these ERC20 tokens to TRX mainnet tokens for you”.

According to the recent information, TRX token holders are currently required to send their ERC20 TRX tokens to the previous deposit address powered by Ethereum (ETH) platform.

As reported earlier, all the other partner exchange platforms had listed the new tokens of TRX20 as the official token migration from ERC20 to TRX20 was completed, unlike Binance which completed the swap of TRX tokens on July 10. 

In addition, the second update of the day was announced by Sun to be the popular OKCoin confirming the completion of Tron Mainnet swap. The official announcement informed the users not to deposit their tokens on ERC20 based TRX address yet explaining that the current address will be soon replaced. Newly issued address will soon be announced and the users hence will have the opportunity to make payments on this updated version.

The new Tron address will reportedly be issued once it is finally switched to the Mainnet: the new address will be starting with the letter ‘T’.

As stated on the official OKCoin website the users need to be: “cautious about the transfer of the password between the exchange where the main net conversion has been completed and the non-convertible exchange, as this may cause loss of all assets, and OKCoin is not responsible for the loss of your assets”.

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