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Binance, the world’s largest cryptocurrency exchange, has announced its support for the network upgrades of Terra Classic v2.0.1 and Kava 13 mainnet. As part of these upgrades, Binance will temporarily suspend deposits and withdrawals of LUNC and USTC on the Terra Classic (LUNC) network on May 17.
According to the announcement blog, the Terra Classic (LUNC) network upgrade is scheduled to occur at block height 12,812,900, around 14:03 (UTC) on May 17. Consequently, deposits and withdrawals for LUNC and USTC through the Terra Classic (LUNC) network will be temporarily suspended starting approximately from at 13:30 (UTC) on May 17.
The Kava (KAVA) network upgrade is set to take place at block height 4,832,500, approximately at 15:00 (UTC) on May 17 . As a result, deposits and withdrawals of KAVA will be temporarily suspended starting approximately from at 14:30 (UTC) on May 17.
Moreover, Binance has confirmed that the trading of LUNC, USTC, and KAVA will continue as usual during the network upgrades. The Terra Classic (LUNC) network upgrade will occur at a block height of 12,812,900, while the Kava (KAVA) network upgrade will take place at a block height of 4,832,500. The provided timings are estimated and for user reference purposes.
Binance also noted that it will handle all necessary technical aspects for users who hold LUNC, USTC, and KAVA in their Binance accounts.
Meanwhile, deposits and withdrawals for LUNC, USTC, and KAVA will be reopened once the upgraded networks are deemed stable. There will be no further announcement regarding this matter.