Bitget to support Litentry (LIT) token swap and rebranding to Heima (HEI)
Bitget will support the Litentry (LIT) token swap and rebranding to Heima (HEI).
Details are as follows:
- Deposits and withdrawals
- On February 10, 2025, at 3:30 AM (UTC), deposits and withdrawals for LIT will be suspended.
- Bitget will notify users in a separate announcement once deposit and withdrawal services for HEI are available after the token swap is completed.
- Bitget will no longer support deposits and withdrawals of LIT tokens after the token swap.
- Token swap and rebranding
- After the token swap, LIT tokens will be rebranded to the ticker "HEI" on Bitget (1 LIT = 1 HEI).
- All LIT balances will be recovered, and HEI tokens will be distributed to eligible users at a 1:1 ratio.
- Bitget will handle all technical requirements for users involved in this event.
- Users may refer to the announcement from the project team for more information.
Please take note of these key tokenomics changes after this event:
- The circulating supply of HEI will increase from 66M to 100M within 20 months;
- A risk warning banner and pop-up notification will be displayed on the Bitget trading page after this event.
- More information can be found here.
Spot
- On February 10, 2025, 3:00 AM (UTC), Bitget will delist the LIT/USDT spot trading pair and cancel all pending spot trade orders.
- Bitget will terminate trading bots services for the aforementioned spot trading pairs on February 10, 3:00 AM (UTC). Once removed, the system will automatically cancel any pending orders and return the relevant assets to your account. Users will be unable to create new bots with the delisted trading pairs. Users will no longer be able to publish running bots with the delisted trading pairs to the Recommended section of the bot copy trading page. Bots with the delisted trading pair that are listed in the Recommended section of the bot copy trading page will be removed. Users are strongly advised to terminate bots with this active trading pair to avoid any potential losses. Thank you for your support and understanding!
- Bitget will open HEI/USDT spot trading no later than 8:00 AM (UTC) on February 13, 2025.
Futures
- Bitget will suspend the opening of new futures positions for LITUSDT starting from January 26, 2025,7:00 AM (UTC). The order closing feature, closed orders, and TP/SL for LITUSDT futures will remain unaffected.
- Users holding LITUSDT futures positions must close them by January 31, 2025,7:00 AM (UTC). After this time, Bitget will suspend futures trading for LITUSDT, cancel all related open orders, settle and close any remaining positions.
- Bitget will terminate trading bots services for the aforementioned futures trading pairs on January 31, 2025, 7:00 AM (UTC). Users should close the relevant orders in advance if they hold bot orders in these trading pairs. The publish and purchase features for the relevant bots will be suspended once the trading pairs are removed from the platform. Upon the removal, the system will automatically cancel any pending bot orders and return the relevant assets to your account. Users will still be able to view the historical data of the relevant bots after the removal.
Spot margin
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Bitget will remove the LIT/USDT trading pair from spot margin and close trading at 3:00 AM on February 6, 2025 (UTC).
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The details are as follows:
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Suspension of borrowing and lending features:
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Bitget has closed borrowing and lending for the relevant trading pair.
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Positions will be closed and liquidated, and the trading feature will be unavailable.
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Bitget will automatically close the positions of users still holding positions in the relevant pair at 3:00 AM on February 6, 2025 (UTC), cancel all pending orders in margin accounts for the pair, and liquidate any outstanding liabilities. Margin trading services for the pair will be disabled, and assets will be automatically transferred to the spot account.
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Users are strongly advised to close positions, cancel orders, repay loans, and transfer funds related to the relevant pairs in advance to avoid potential losses.
Loans
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Bitget Crypto Loan will delist LIT and discontinue lending and collateral services at 7:00 AM on February 7, 2025 (UTC). At this time, all ongoing loan orders involving LIT as debt or collateral will be automatically liquidated. The remaining principal and collateral will be returned to the user's spot account upon liquidation completion. For details, visit Crypto Loans > History > Status > System Liquidation.
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To avoid potential losses, users are strongly advised to repay their loans in advance.
Convert
- Bitget Convert will remove LIT and all associated pairs at 2:00 AM (UTC) on February 10, 2025.
Convert low-value assets
- Convert low-value assets will remove LIT at 2:00 AM (UTC) on February 10, 2025. Users may choose to convert low-value assets beforehand.
Disclaimer
Cryptocurrencies are subjected to high market risk and volatility despite high growth potential. Users are strongly advised to do their research and invest at their own risk. Thank you for your continued support!
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