CUSD's Important Update Regarding the Discontinuation of BUSD
We have an important update regarding CUSD, the building block of the Ninety Eight ecosystem. As introduced last year, CUSD is a decentralized stablecoin that serves as a reliable unit of account within the cross-chain economy. However, Binance has announced discontinuing support for BUSD, one of the fiat-backed stablecoins used as collateral for CUSD. In light of this development, we've decided to wind down the current version of CUSD. We understand that this news might come as a surprise, but rest assured, it's a necessary step towards progress and innovation.
Free Redemption To January 15, 2024
To minimize any inconvenience caused by the wind-down, we offer a limited-time Free Redemption for all CUSD users until January 15, 2024. This means that you can redeem your CUSD, whether it's on the BNB Chain, Ethereum, or Solana, without incurring fees from CUSD protocol and receive the equivalent value in collateralized assets. We aim to provide our community with a fair and straightforward solution during this transition period.
Taking note of the recent announcement by Binance, we want to emphasize the importance of redeeming your CUSD (BNB Chain) to BUSD and converting your BUSD assets into other available assets on Binance before the specified deadline of December 15, 2023. This aligns with Binance's guidance and will help ensure a smooth transition for our community.
Redemption Process
To redeem your CUSD, please visit our redemption platform at https://cusd.coin98.com/.
Follow the instructions to initiate the redemption process and seamlessly convert your CUSD into the corresponding collateralized assets.
Our dedicated customer support team is also available to assist you throughout the redemption process. Feel free to contact us through LiveChat support on Coin98 Super Wallet, via email at support@coin98.com, or join our Discord channel for real-time support.
Embracing the Future
While we bid farewell to the existing version of CUSD, we are excited to announce that this wind-down paves the way for the launch of a new and improved version of CUSD. The new version will bring forth exciting innovations and features that will further strengthen our cross-chain ecosystem and meet the evolving needs of our community.
We appreciate your understanding and patience during this transition period. The wind-down of the existing version of CUSD, coupled with the Free Redemption offer, marks an important step toward embracing the future. We remain committed to providing you with a seamless experience throughout this process. We will keep you informed about the developments and launch of the new version of CUSD.
