Cryptocurrency exchange Binance has announced its support for the upcoming network upgrade and hard fork of Firo (FIRO). The upgrade is scheduled to begin on September 16, 2024, around 07:00 UTC.
Binance to Support Firo (FIRO) Network Upgrade and Hard Fork
As part of this transition, Binance will temporarily suspend deposits and withdrawals of Firo tokens to ensure a smooth upgrade and optimal user experience. The Firo network upgrade and hard fork are expected to take place at approximately 08:00 UTC, at block height 958,655.
One of the most significant changes in this upgrade is the discontinuation of future halving events for FIRO tokens. This move will result in a total token supply of 21.4 million over the next 5 to 6 years, after which the inflation rate will decrease from its current 0.98% annually.
Despite the upgrade, trading of Firo tokens on Binance will not be affected. The exchange will handle all technical aspects of the upgrade on behalf of its users. Deposits and withdrawals will resume once the network is deemed stable, without any further announcement.
Users are encouraged to review Firo’s updated tokenomics for more details on the network changes.
Deythere will continue to monitor this upgrade and provide further updates as they become available.
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