The world’s largest crypto exchange Binance said in a blog post today that it will support the Osmosis (OSMO) network upgrade. Deposits and withdrawals of OSMO will be suspended approximately starting from 2023-01-23 at 15:00 (UTC).
The Osmosis Network Upgrade Won’t Affect the Trading of OSMO
As per the blog post, the trading of OSMO will not be affected during the network upgrade. Therefore, the operations will remain active while the upgrade would be taking place. The Osmosis network upgrade will take place at the Osmosis block height of 7,937,500. The estimated time is for users’ reference only. Binance will handle all technical requirements involved for all users holding OSMO in their Binance accounts.
Binance to Not Notify Users Once the Upgrade is Done
Binance also said that while the exchange would reopen deposits and withdrawals for OSMO once it deems the upgraded network to be stable, it will not notify users in a further announcement. Thus, the users will have to check it themselves whether or not they are able to deposit and withdraw their OSMO tokens. The blog post also read that wherever any discrepancy arises between the translated versions and the original English version, the English version shall prevail.