Gate Supports Merit Circle (MC) Token Split and Migration to Beam (BEAMX)

According to the Merit Circle (MC) team, the Merit Circle (MC) tokens would be swapped for Beam (BEAMX) at a ratio of 1:100. Gate will provide seamless token swap services for users. If your Merit Circle (MC) tokens are currently on Gate, you don’t need to do anything in particular.

Swap ratio: 1 (MC) : 100(BEAMX)

Details:

1. If there are any in-progress trades in the futures trading market, please adjust your strategies in advance. Starting from November 1, 2023, 08:00 A.M. UTC, the MC/USDT futures trading market will only support "Reduce-only" mode.
2. On November 2, 2023, 08:00 A.M. UTC, Gate automatically settle open positions at the average index price in the half-hour before the futures trading stops. If you have open positions in the futures market, please adjust your strategy and close your positions before November 2, 2023, 08:00 A.M. UTC to avoid automatic settlement.
3. Gate will suspend the deposit, withdrawal, and trading services for Merit Circle (MC) starting from November 3, 2023, 03:00 A.M. UTC, including spot trading and quantitative trading.
4. Users who have in-progress Merit Circle (MC) quantitative trading should adjust your trading strategies beforehand. Otherwise, the strategies will be terminated automatically before November 3, 2023, 03:00 A.M. UTC.
5. New Token ID for BEAMX:
   0x62D0A8458eD7719FDAF978fe5929C6D342B0bFcE (ETH)
   0x62D0A8458eD7719FDAF978fe5929C6D342B0bFcE (BSC)

Please note that after the swap is completed, Gate will no longer support the old Merit Circle (MC) tokens, but will support the deposit and withdrawal services for the new Beam (BEAMX) tokens.

Project team’s announcement: https://medium.com/meritcircle/beam-token-migration-tutorial-and-faq-3f72cecf09d2

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Gate Team
October 26,2023