​​Binance Completes New STG Token Swap With Original STG Token | Global CRYPTO News

​​Binance Completes New STG Token Swap With Original STG Token

According to the official announcement of Binance, the exchange has now completed the new STG generation of the Stargate Finance (STG) blockchain and AVAX Chain, Arbitrum One, BNB Smart Chain (BEP20), Ethereum (ERC20), Fantom, and Polygon about the original STG token. In addition, Binance will reuse STG as the trading code of the original STG token.

In addition, the STGOLD deposit is now open, and withdrawal of STGOLD tokens will no longer be supported. Crypto exchanges’ decision to remove support for new STG tokens follows a decision by the decentralized autonomous organization (DAO) Stargate on Tuesday to stifle plans to mint new tokens, according to a recent community suggestion. Reportedly, Stargate Finance’s original STG token is back in support after StargateDAO canceled its plans to reissue STG following a dispute with FTX liquidators. StargateDAO initially voted to re-issue all STG tokens by March 15 after discovering security risks due to “illegal transfers of STG from compromised Alameda wallets”.