Binance has announced its support for the rebranding of Litentry (LIT) to Heima (HEI) and the coin swap process. This transition will involve several significant changes affecting users.

Binance also stated that the total supply of HEI coins will increase from 66 million to 100 million over the next 20 months.

Binance Suspends LIT Coin Trading Permanently

As part of its support for the rebranding and coin swap, Binance will remove the LIT/BTC and LIT/USDT trading pairs from the platform on February 10, 2025, at 06:00 UTC. All pending orders will be canceled from that point onward. The HEI coin trading pairs with BTC and USDT will be available starting February 13, 2025, at 11:00 UTC. Users are advised to update their trading bots and orders before these dates.

From the specified date, LIT coin deposit and withdrawal services will be permanently suspended. HEI coin deposits will begin on February 13, 2025, at 10:00 UTC. Regarding withdrawals, Binance will issue a further announcement once the process is completed.

Updates to Other Services for the Altcoin

Binance’s Futures platform will automatically close LIT/USDT futures contracts on January 31, 2025, at 09:00 UTC. Users are advised to close their positions before this date.

Additionally, Binance Margin will end LIT coin margin trading on February 6, 2025. All open loans will be settled, and users are encouraged to transfer their assets to their spot wallets.

Binance also announced that the coins in margin accounts will be automatically converted to USDT. To ensure users do not need to take any additional steps, Binance will handle all the technical procedures.

Furthermore, Binance will discontinue services such as Simple Earn, Auto-Invest, and Gift Card for LIT coin. The Pay and Convert Low-Value Assets features related to the altcoin will also be deactivated.

Users are encouraged to review their existing plans and assets before these changes and make the necessary adjustments.

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