VeChain (VEN) Migration Update – August, 2018

27 August 2018 in in Announcements

In early July, Bitfinex announced full support for the VeChain VEN – VET token swap. In line with this, we are pleased to be able to communicate the start of the VeChain migration process.

To ensure a smooth and trouble-free migration for all our users, the token migration will be completed according to the following steps:

VEN deposits and withdrawals will be suspended as of 12:00 AM UTC, 28/08/18 . Please ensure sufficient time to confirm transactions prior to this.

Trading in all VEN pairs (BTC, ETH & USD) will be suspended as of 11:00 AM UTC, 28/08/18 . A VEN balance snapshot will be taken at this time.

The token migration will take place. Tokens will be converted in a ratio of 1:100 (100 VET for every VEN).

Trading will reopen for VET against BTC, ETH & USD at approximately 15:00 PM UTC, 28/08/18 . Deposits and withdrawals will be enabled in line with this.

Please note that deposits and withdrawals of VEN are to be suspended permanently following step 1 and Bitfinex will be unable to accept transactions in this token moving forward.

To learn more about VeChain migration, please visit the Bitfinex Knowledge Base. For further information please visit support.bitfinex.com.

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