No, Binance has approved it. They just haven’t done the integration work yet, and the ZIP outlines how to implement the change.
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thanks for the update @aquietinvestor
did you get to know when the will remove the “monitoring” tag?
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Unfortunately, Binance has not provided a timeline for removing the “monitoring” tag. As I understand, they usually update the monitoring list at the end of every quarter. It is likely that the tag will remain until support for TEX addresses is implemented, which will likely occur in the second quarter.
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Why did the hanh of YWallet complete support for TEX three weeks ago, but ECC has not been completed yet?
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Actually TEX support has been added to the zcash_address crate for all clients of rust crates will have access to that feature.
Daira and Kris have been fully involved on the outreach and communications to partners and supporting the task that @aquietinvestor and myself are carrying out.
In terms of ECC SDK’s I guess that’s an @andrea question.
What I can do is repeat information that’s been shared in LCWG. As they have stated in the Light Client Working Group, ECC engineers have been focused on Orchard Support and tasks needed for Zashi’s launch among others. TEX Support APIs are ready for partners to start adopting and a subsequent feature complete release will be release somewhere in April after Zashi is released.
Currently, Binance is not showing TEX addresses to their customers so we are still on track.
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@aquietinvestor any updates from binance about the monitoring tag?
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Hi @elkouaris. Here’s the latest update I have regarding the monitoring tag:
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The Binance has released fresh “Monitoring” adjustments.
A number of assets have been added to it, but they did not exclude anything from the list this quarter. So $ZEC and company are still “under monitoring”:
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The answer is that we have been fully immersed in releasing the Zashi wallet. We have everything in place for ZIP 320 support with the exception of properly handling the gap limit for the interstitial transparent addresses in wallet recovery (the single-use-only transparent addresses that are deshielded to before sending to the Binance address.)
The way that the ECC SDK support for ZIP-320 addresses works is that, when you enter a TEX address as the recipient, the wallet automatically creates two linked transactions: one to deshield to an ephemeral transparent address, and a second zero-conf fully transparent transaction that spends the deshielded funds to send them to the eventual recipient.
Handling it this way, and ensuring that the ephemeral address is only ever used once, means that there is no privacy leak greater than what would exist for any normal Z->T transaction. However, since it’s possible for funds to be sent to those ephemeral addresses, the wallet must be able to track them and ensure that they are discovered in wallet recovery. Also, we have to make sure that the rules around creation of those ephemeral addresses are such that they are truly one-time-use only, and that the BIP 44 indices used for their derivation are never reused, even if the user has multiple wallets with the same seed.
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Is there still a risk of delisting now？
yes.
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There is no imminent risk of Binance delisting Zcash. However, future developments are unpredictable, and new circumstances could potentially influence their decision. Currently, there is no indication that such a change is likely to occur.
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any update?
@pacu and I are actively engaging with wallet and exchange partners. We still anticipate the implementation of TEX addresses in the second quarter.
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Binance just rejected a deposit from my zashi today. I need help. I lost one zcash . They are giving me 32 days to answer to my appeal. Ridiculous. That’s absurd
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A Zcash En Español user just informed us that he also had two transactions blocked and only the transparent transaction was accepted.
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I’m crossposting the response below to ensure all relevant information is included in this thread.
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@aquietinvestor it’s very important to get the TEX address implemented before July 4.
Once in a quarter, on the 4th day of every quarter, Binance adjusts the MONITORING label and makes a formal announcement.
If we miss this date, we’ll have the monitoring label for another 3 months and be in the basket of coins/tokens that are dead/scams (like FTT).
If a coin has the monitoring tag attached, users are basically told it’s riskier than other assets and forced to submit a questionnaire.
Also, it’d be a very bad look for Zcash if Firo implements it first, gets the monitoring label removed and we don’t for another quarter.
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I can assure you, since November 2023, under the US compliance monitor, Binance has been seen as the safest exchange of them all (maybe with the exception of Coinbase). Being under the monitor, is one of the best things to happen to Binance (even from the marketing perspective).
Binance is stronger than ever and Zcash can’t afford to lose it (it’s the only place in the universe with sizeable liquidity), there cannot even be a discussion about this. Zcash can no longer afford making more irrational moves and mistakes based on some biases of some people who are out of touch with reality or how trading works. We must be data-based, not emotion-based. Experts over amateurs.
The community can’t become a community of naive libertarians who think that some imaginary DEX will solve the problem with CEXes. Yes, I also look forward to Maya integration! But if someone proposes to get rid of CEXes, it’s just stupid. I can see it either as stupid or even as an attack on Zcash. DEXes can only be seen as complementary, at least for many upcoming years.
Rationality above everything.
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