Binance Announces Support for Optimism Network Upgrade in Early 2025

Binance has announced its full support for the upcoming Optimism (OP) network upgrade and hard fork, set to take place on January 10, 2025, at 2:00 (UTC+8).

To accommodate the upgrade, the crypto exchange announced that it would temporarily suspend deposits and withdrawals on the OP network starting at 1:00 (UTC+8) on the same day. However, it assured users that trading of OP-supported tokens would remain uninterrupted throughout the suspension.

The upgrade, which includes a hard fork event, aims to improve the Optimism network’s scalability, performance, and overall user experience. It will introduce changes incompatible with older versions and require all network participants to update their software.

Historically, hard forks have driven major advancements in blockchain technology. For example, Ethereum’s transition to a proof-of-stake consensus mechanism, known as “The Merge,” and the “London” upgrade, which introduced EIP-1559 for improved gas fee predictability, are examples of this kind of upgrade.

Binance also stated that it will manage all technical aspects of the Optimism upgrade to ensure a smooth experience. Users are advised to complete any necessary transactions before the suspension period begins. Deposits and withdrawals will automatically resume once the network stabilizes.

Binance has also urged users to stay updated by referring to the official announcement from the Optimism team and to remain vigilant against misinformation or potential scams surrounding the upgrade.

In addition to the Optimism upgrade, Binance has announced its support for the rebranding and token swap of Fantom (FTM) to Sonic (S), set to take place in early 2025. Starting at 3:30 (UTC) on January 13, 2025, FTM deposits and withdrawals will be suspended, and all FTM trading pairs, including FTM/BTC, FTM/USDT, and FTM/ETH, will be delisted.

Trading for the new Sonic (S) token will begin on January 16, 2025, featuring pairs such as S/BTC, S/BNB, and S/USDT. Binance will also update its Futures, Margin Trading, and Simple Earn services to integrate the new Sonic token.

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