Update May 12: N3 Migration is currently paused. We will provide more information when it becomes available. Bitfinex notice: https://twitter.com/bitfinex/status/1524721094829252608
Bitfinex will begin migrating Legacy NEO held on its platform to N3 NEO at 9:00 a.m. (UTC) on May 12, 2022. NEO token holders do not need to take any action to participate in the migration process, which is expected to take approximately ten hours.
During the migration, NEO markets will continue to trade on the custodial exchange, though users will not be able to deposit or withdraw NEO. Users have until May 12 to withdraw any NEP-5 NEO, or else their NEO held on the exchange will migrate to the NEP-17 standard.
Bitfinex was founded in Hong Kong in 2012. At the time of press, Bitfinex is ranked 33rd in 24-hour trading volume on CoinMarketCap.com with approximately US $2.5 billion.
Bitfinex joins the nearly dozen other exchanges that offer support for Neo N3 assets.
The full announcement can be found at the link below:
https://www.bitfinex.com/posts/791
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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