[Upbit Notes] New Listing Update, More | by Upbit Official | Mar, 2022

From the UpBit Official blog.

Photo by AbsolutVision on Unsplash
  • New digital asset on KRW, BTC Market (T) and designation of investment warning (NU)
  • Reasons for listing : Following the merge of Nucypher and Keep Network, T digital asset will be used in the newly upgraded network. As T will replace NU’s role, Upbit has also decided to list T.
    . Details on Nucypher (NU), Keep Network (KEEP) merge
  • NU <> T swap : For users wishing to swap their NU into T, please withdraw your NU to individual wallets and follow the DIY guidelines below.
  • How to wrap NU into T : https://www.youtube.com/watch?v=FJOnWai4UzE (Korean Translation)
  • NU <> T swap website : https://stake.nucypher.network/wrap
    *NU and T are separately traded digital assets with individual prices. The merge does not oblige NU <> T swap and is different from previous rebranding of digital assets (e.g. BCHA rebranding to XEC). Accordingly, to protect users’ property rights from risks including losses from NU / T price difference and allow users to selectively trade NU / T, Upbit will not be supporting the swap.
  • Investment warning: NU/KRW, NU/BTC
  • Reasons for investment warning
    : Nucypher(NU) and Keep Network(KEEP) have strategically merged into Threshold(T). Upbit is issuing an investment warning for NU due to changes in project conditions*. NU liquidity is expected to decrease as more NU is converted into T, so we urge Upbit users to be cautious of high price volatility.
    *Details on investment warning categories can be found in Upbit Digital Asset Transaction Support Termination Policy
  • Merge Details
    : Merge reason : Nucypher and Keep Network are both focused on guaranteeing user sovereignty on the public blockchain through the use of threshold cryptography. The merge was decided through community votes for an increased synergy between the two projects.
    . https://blog.nucypher.com/keanu-is-a-go/
    : Merge timeline : The merge was decided by community votings in June, 2021 and the NU/KEEP upgrade contract to T was launched in December, 2021.
    : Merge ratio : T has a maximum supply of 10 billion, in which 4.5 billion T will be distributed to NU and T holders each. The merge ratio is as follows.
  • 1 NU = 3.26 T
  • 1 KEEP = 4.78 T
  • After issuing an investment warning, Upbit thoroughly reviews the digital-assets to decide investment warning withdrawal/extension or termination of market support.
  • In this case, Upbit has issued an investment warning to address users’ caution in trading following the particular changes in project conditions. As such, NU trades will be supported (e.g. withdrawal/deposit of NU) after the investment warning. However, changes in trade support may be announced should there be significant changes in liquidity and projects situations.
  • Upbit’s designation of digital asset Investment Warning and termination of transaction support are in accordance with the Upbit Digital Asset Transaction Support Termination Policy.

This article came from the Upbit Official blog, found on https://upbit.medium.com/upbit-notes-new-listing-update-7eeb90f75913?source=rss-2a2ff9b28656——2

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