KEY FACT: Hive-engine has suspended deposits and withdrawals of WAX, EOS, and all EOS based tokens on its DEX, to end trading of tokens on March 2, 2024.

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Hive-engine DEX Delists WAX and EOS

Hive Engine, a smart contracts side-chain platform for the Hive blockchain has announced the delisting of $EOS, $WAX, and all EOS-based tokens on its Decentralized Exchange (DEX) for reasons of unsustainability, among others. This was captured in an announcement released by the Hive-engine team over the weekend and hosted on the DEX's homepage. At the time of this publication, auto deposits and withdrawals of the affected tokens have been permanently disabled.

We have made the hard decision to end our support for the WAX and EOS blockchains, for various reasons including the unsustainability of continuing to run our infrastructure for them in the current market conditions. This means that WAX, EOS, and all EOS based tokens will soon be delisted from our trading markets, and as of now deposits & withdrawals for said tokens have been permanently disabled. We apologize and share your sense of disappointment that this has become necessary. - Hive-engine Team

The Hive-engine team has also stated its commitment to cushion the effect of the delisting on the affected token holders by giving a month-long safe window for the withdrawals of all pending deposits & withdrawals, Besides, all fees associated with withdrawals have been waived. However, the processing of the withdrawals will take a longer time as only requests for withdrawals of 10 EOS or higher, and 100 WAX or higher will be attended to by the Hive-engine support team. Also, withdrawal requests will be limited to 1 per account per day.

The manual support procedure for safe withdrawals of the affected tokens would last from the announcement date until March 2, 2024, at midnight UTC. Token holders are expected to open a support ticket at Engine Support where they will provide their Hive account name, destination account on the external blockchain, and the amount of the token to withdraw.

After March 2, the trading markets for these tokens will be disabled, and there will be lengthy delays in recovering any WAX, EOS, or EOS based tokens still left on the Engine platform.

Token holders and traders are advised to take out all liquidity from the associated Diesel Pools (DeFi on hive-engine). Holders of smaller token amounts below the 10 EOS and 100 WAX thresholds are advised to trade into SWAP.HIVE

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Hive Engine is a platform that empowers communities, project owners, fundraisers, developers, and businesses to quickly and easily build on the Hive blockchain. The Hive-Engine platform makes smart contracts on the Hive blockchain a reality. Smart contract possibilities on hive-engine include no-code creation of custom tokens, NFT minting, and token staking/unstaking.

Hive-engine also provides a cross-chain bridge for other blockchains like Bitcoin, Ethereum, Polygon, Binance Smart Chain, among others. Hive users can unlock unlimited possibilities by adding a layer of functionality that seamlessly integrates with the blockchain. Some of those possibilities.

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This post was created via INLEO, What is INLEO?

INLEO's mission is to build a sustainable creator economy that is centered around digital ownership, tokenization, and communities. It's Built on Hive, with linkages to BSC, ETH, and Polygon blockchains. The flagship application: Inleo.io allows users and creators to engage & share micro and long-form content on the Hive blockchain while earning cryptocurrency rewards.

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