Binance announced today that it would support the ICON (ICX) Mainnet Token Swap. It is the first amongst the major exchanges to support the swap. The platform will also facilitate trading in ICX/USDT pair from June 13. Deposits and withdrawals in the currency will be halted from June 20 and enabled once the mainnet has stabilized.

First Major Exchange to Announce Support

The Binance team wrote in a blog post:

“Binance will support the ICON (ICX) Mainnet Token Swap and will suspend deposits and withdrawals for ICON (ICX) starting from 2018/06/20 0:00 AM (UTC). Binance will handle all technical requirements involved for all users holding ICX.”

“Binance will also open trading for the ICX/USDT trading pair at 2018/06/13 8:00 AM (UTC).”

The deposits and withdrawals in the currency will be enabled as soon as the mainnet is deemed stable by the exchange’s team. All ICON holders have a week’s time for depositing their tokens with the exchange will handle the rest. The ICX/USDT pair is currently trading at $1.98.

Icon Team Apologizes

In a Medium post, the ICON team said:

“We would like to apologize for the lack of communication leading to confusion throughout the community.”

The ICX Mainnet 1.0 launched on January 24th, when the Genesis block was generated and all coins to be used on the new block were minted. The team kept quiet until April 4 about the token swap. In the blog, they offered two main methods for the swap. The users could swap their tokens using the ‘swap’ function in the ICONex wallets or deposit their tokens in an exchange and let them handle the technical requirements.

They also mentioned that both swaps would be opened at once to avoid confusion. There is no report about any other exchange or ICONex wallet holding the swap along with Binance.

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