Gate Supports Maple (MPL) to Maple (SYRUP) Token Migration

According to the Maple (MPL) project team, Maple (MPL) tokens will be migrated to Maple (SYRUP) at a ratio of  1 MPL : 100 SYRUP. Gate will facilitate this migration and provide seamless token swap services for users. If you currently hold Maple (MPL) on Gate, no action is required on your part.

Details:

1. Gate will disable new margin borrowing and crypto loan services for Maple (MPL) before November 5, 2024, 08:00 UTC.
2. Users with ongoing trades in the futures trading market are encouraged to adjust your strategies in advance. From November 6 , 2024, 08:00 UTC, the MPL_USDT futures trading market will switch to a "Reduce-only" mode.
3. On November 7, 2024, 08:00 UTC, Gate will automatically settle open positions at the average index price in the half-hour before the futures trading stops. Any outstanding orders will be canceled automatically. Users with open positions in the futures market should adjust your strategies and close positions before November 7, 2024, 08:00 UTC to avoid automatic settlement.
4. Starting from November 8, 2024, 02:00 UTC, Gate will suspend the deposit, withdrawal, and trading services for Maple (MPL), including MPL_USDT spot trading pair, quant grid trading, Simple Earn, and margin traing.
5. Users with ongoing quant grid trading of Maple (MPL) should adjust your trading strategies beforehand. Otherwise, the trades will be terminated automatically before November 8, 2024, 02:00 UTC.
6. Users with assets in Simple Earn may manually redeem them in advance. Otherwise, the assets will be liquidated before November 8, 2024, 02:00 UTC.
7. Users with outstanding Maple (MPL) loans in the margin trading market should repay the loans in advance. Otherwise, the loan will be settled automatically before November 8, 2024, 02:00 UTC.
8. New SYRUP Token ID:
   0x643C4E15d7d62Ad0aBeC4a9BD4b001aA3Ef52d66 (ETH)

Please note that there are additional issuance risks associated with the new Maple (SYRUP) tokens. After this migration, the total supply of SYRUP increased from 10 million to 1.15 billion. Without considering others factors, the price of SYRUP will be 1/100 of MPL. Additionally, Gate will no longer support Maple (MPL). The listing time for Maple (SYRUP) will be announced separately after Gate completes the listing review.

Official Source:
https://community.maple.finance/t/mip-010-syrup-token-launch-and-mpl-syrup-conversion/334

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Gate Team
November 4,2024