Binance has announced that it will discontinue support for deposits and withdrawals of QuarkChain (QKC) tokens via the BNB Smart Chain (BSC) network. The change takes effect at 8:00 a.m. UTC on June 26. Users holding QKC on BSC must take action before the deadline to avoid potential loss of access to their tokens.
What the Change Means for QKC Holders
After the cutoff, Binance will no longer process QKC transactions conducted through the BSC network. This means deposits sent to Binance via BSC after the deadline will not be credited, and withdrawals initiated on BSC will not be processed. The exchange has not indicated that it will reverse or credit unprocessed transactions after the deadline, making it critical for users to move their tokens in advance.
Binance has not suspended QKC trading or support on other networks. The change is specific to the BSC bridge. QuarkChain tokens held on other supported networks, such as the native QuarkChain mainnet or Ethereum (if supported), are not affected by this update. Users should verify which network they are using before initiating any transaction.
Why Binance Is Making This Change
Exchanges periodically review and update their network support based on factors including technical compatibility, security assessments, and user demand. While Binance has not provided a detailed public explanation for delisting QKC on BSC, such decisions often follow evaluations of network stability, smart contract risks, or changes in the underlying token’s infrastructure. The move may also reflect a broader effort by Binance to streamline its supported asset networks and reduce complexity for users.
QuarkChain is a blockchain platform designed for high throughput and sharding. Its native token, QKC, is used for transaction fees, staking, and governance within the QuarkChain ecosystem. The token has been listed on Binance since 2018 and is available for trading against several pairs, including QKC/USDT and QKC/BTC.
What Users Should Do Before the Deadline
Users who hold QKC on the BNB Smart Chain network should take one of the following actions before June 26 at 8:00 a.m. UTC:
- Withdraw QKC from Binance to a personal wallet that supports the BSC network, then bridge the tokens to the native QuarkChain mainnet or another supported network.
- If the tokens are already in a self-custodial wallet on BSC, use a cross-chain bridge to move them to a supported network before attempting to deposit back to Binance.
- Convert QKC to another asset on Binance if they do not wish to manage the token on an alternative network.
After the deadline, users may still be able to access their QKC through Binance if the token is held on a supported network. However, any QKC remaining on BSC that has not been moved will effectively become inaccessible through the exchange.
Conclusion
Binance’s decision to end QKC support on BSC is a routine but important network-specific update. Users who act before June 26 can avoid disruption. The change does not affect QKC trading on Binance or support for the token on other networks. As always, users should double-check network compatibility before making deposits or withdrawals to ensure their funds arrive safely.
FAQs
Q1: Will Binance stop supporting QKC entirely?
No. Binance is only ending support for QKC deposits and withdrawals via the BNB Smart Chain network. QKC trading and support on other networks, such as the native QuarkChain mainnet, remain unaffected.
Q2: What happens if I send QKC via BSC after the deadline?
Deposits sent via BSC after June 26 at 8:00 a.m. UTC will not be credited to your Binance account. Binance has stated it will not process these transactions retroactively.
Q3: Can I still trade QKC on Binance?
Yes. QKC trading pairs remain active on Binance. The change only affects deposits and withdrawals conducted through the BSC network.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
