Binance has hinted at the support for the Pepper airdrop for Chiliz holders.
Top crypto exchange Binance has announced its support for Pepper (1000PEPPER) airdrop for Chiliz CHZ $0.0425 24h volatility: 2.6% Market cap: $406.42 M Vol. 24h: $27.39 M holders. In a memo to the crypto exchange’s users, Binance shared details of the upcoming airdrop, including the snapshot time. There are four snapshot times, with a week interval between each. The first is scheduled for October 10, 2024, at 00:00 (UTC).
The second snapshot time will follow on October 17, 2024, at the same time. The third snapshot time is October 24, 00:00 (UTC), while the fourth is October 31, 2024, 00:00 (UTC). Markedly, the Pepper token will assume the ticker symbol “1000PEPPER” on Binance. It is worth noting that this ticker is quite different from the on-chain display, which is PEPPER.
Binance Offers 150 1000PEPPER for 1 CHZ
The airdrop ratio is 1 CHZ to 150 1000PEPPER tokens. Therefore, CHZ users will receive 150 1000PEPPER for every 1 CHZ in their wallet.
The four snapshots will include CHZ holdings and liabilities in Spot Wallets, Funding Wallets, Margin Wallets, Simple Earn Flexible Accounts, Flexible Loans, and VIP Loan Accounts. Additionally, it will cut across balances from COIN-Margined Futures Accounts but exclude USDⓈ-Margined Futures Accounts. Notably, undistributed CHZ interest payments will not be included in the snapshot.
Any user with less than 100 CHZ in balance is not eligible for the 1000PEPPER airdrop. Also, CHZ tokens borrowed from Margin or Crypto Loans or transferred to Spot Wallets from these accounts will not be eligible for the airdrop. Similarly, any CHZ token pending either deposit or withdrawal at the time of the snapshot will not be added to a user’s balance.
Though the project plans to distribute 1000PEPPER to Binance in four transactions, the exchange intends to transfer the tokens to users simultaneously. Users will receive a notification when the distribution to Binance users is completed.
This entire airdrop and snapshot process will not impact a few transactions. This includes deposits and withdrawals of CHZ, Spot, Margin, Futures trading, and Binance Earn services
Binance Inhouse Cleaning with Altcoin Delisting
This news comes only a few hours after the trading platform released details about the delisting action of four spot trading pairs: APE/ETH, ATOM/BNB, BAL/BTC, and BNB/DAI.
The platform explicitly stated that the move was part of its periodic reviews of all listed spot trading pairs to evaluate various factors such as liquidity, trading volume, and the market’s overall health for each pair.
Significantly, the exchange is keen on protecting its users while keeping the market’s integrity at the right standard.
Bearing this in mind, Binance also intends to conduct an automatic conversion for Tornado Cash (TORN), OMG Network (OMG), and Waves (WAVES) in the coming weeks. This is another strategy for the exchange to sunset the listed tokens. The autoconversion decision is unsurprising because of Tornado Cash’s history, including its listing in OFAC’s sanctions document.
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