Important: Potential Binance Delisting

I just hope we don’t underestimate liquidity.

On a quick thinking, liquidity is probably the second most important feature for Zcash, just after privacy. Yes, I said it.

If needed, we should be ready to throw all resources into atomic swaps, dex, or any other new primitives needed.

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Sources saying we follow the fate of Monero.

(Mod note: this brand new account created to troll our community has been permanently suspended, please see the forums CoC)

Nice try, my monero friend! Welcome to the Zcash forum! You’ll have to get a bit more familiarized though, things here aren’t quite as easy to solve as you’re used to.

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who is “we”?

Anyway, I will be glad if we stay away from Binance and focus more on supportive relationships with Gemini, Coinbase and other exchanges that support privacy.

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Info on TEX :arrow_down:

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so you can send from coinbase to binance TEX now?

or we can send from Zashi to coinbases TEX?

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Binance is the only exchange that generates TEX addresses, so this update means you can send ZEC from Coinbase to a Binance TEX address. Without integrating TEX support, such a transaction would fail.

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Long-term dexes will be the most important part of the equation of ZCash. Most jurisdictions will likely create regulatory barriers that push privacy coins from central exchanges. So, I think it makes more sense to focus on supporting DEXes than in supporting CEXes

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Update: On January 1, 2025, Binance will convert all Zcash deposit addresses on their platform to tex addresses. They began rolling out tex addresses in July, where new ZEC holders were assigned tex addresses, while existing holders continued to use t-addresses. The mix of some holders having tex addresses and others having t-addresses has caused some confusion for Zcash users.

Here’s what you need to know to interact with Binance:

  • The following wallets and exchanges have implemented tex support:

    • Wallets: YWallet, Zashi, Zingo, Edge Wallet, and eZcash
    • Exchanges: Coinbase and Gemini
  • If you are depositing ZEC into Binance and you have a tex-address on Binance:

    • You must deposit ZEC from a wallet or exchange that has implemented tex support. If your wallet or exchange does not support tex, the transaction cannot be performed because the tex address will not be recognized as a valid recipient.
    • For example, if you hold ZEC in Trust Wallet, you’d need to first transfer the ZEC from your Trust Wallet to a wallet or exchange that has integrated tex support, like YWallet or Coinbase, before sending it to Binance.
    • Please note that some wallets or exchanges may not allow withdraws to a shielded address, in which case you will need to first transfer the ZEC to a t-address.
  • If you are depositing ZEC into Binance and you still have a t-address on Binance:

    • You must send ZEC from a t-address or Binance will block your deposit and refund your ZEC within 30 business days.
    • tex-address support does not apply to users who still have a t-address on Binance.
  • If you are withdrawing ZEC from Binance to another wallet or exchange, there should be no impact, and your transactions will continue as usual.

Please use this thread if you encounter any issues or have questions while making transactions. I will continue to provide updates as we approach the rollout date.

Thanks.

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Thanks Jason, finally Binance will start using what they asked to create and in a way it was already complicated to understand why they were not giving use to all users and even worse, not helping users who requested them from support, claiming that the T address was fully functional and the truth is that it is not, because you can not send shielded funds to that address.

It’s not like I like TEX addresses, but if they are there and they were requested by themselves, then let them use them now that the wallet ecosystem has been updated to support them. :+1::+1::+1:

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They will never ever ever remove the monitor tag, right?

At this point, there is no indication that Binance plans to remove the monitoring tag. However, they review these decisions on a quarterly basis. Below is my most recent update from October.

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hi ZCash community.

I am currently engaging in a research project focused on the intersection of European Regulations (MiCAR, AMLR, etc) and crypto-assets.

The goal is to understand how evolving regulations have impacted the wider DLT ecosystem, especially as related to European Fundamental Rights such as privacy (Art. 7), data protection (Art. 8), and property (Art. 17).

The study is a follow on from a previous research project, entitled:

Renwick, R., & Gleasure, R. (2021). Those who control the code control the rules: How different perspectives of privacy are being written into the code of blockchain systems. Journal of Information Technology , 36 (1), 16-38. (I would link the article, but i am not allowed post links - you can google search it, if required).

I as wondering if there was someone from the ZCash community that might be interested to talk about the Binance delisting threat, and consequent protocol/wallet changes?

Zcash was one of the projects at the forefront of regulatory enforcement in Europe and chose a novel path to ensure compliance objectives could be met. The idea (at a very high level) would be to have a 60 minute interview that would inform the research findings.

Is this something that someone from the Zcash community might like to engage with? I am tagging @aquietinvestor, as they seem quite involved in the process. Apologies, if i am tagging the wrong person.

I believe the output of the research will be greatly beneficial to academic, policy, and DLT communities, so i really hope that ZCash would be willing to engage with it.

I have previously tried emailing press @ ECC and also the ZCash foundation, but have not heard back from anybody about it, sadly - hence this public post.

Hope to hear from you soon.

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Thanks for reaching out. I’ll send you a DM.

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Binance to make all Zcash deposit t-addresses TEX addresses

Hello! As @aquietinvestor posted before, all Binance Zcash deposit addresses will be converted to TEX addresses.

@aquietinvestor and myself are in contact with Binance representatives and they have told us that Binance will take the appropriate actions to inform their users of this change and how it affects them.

Nonetheless, we’ve put together this Free2z post with context, information and common troubleshooting steps.

Please use this thread if you encounter any issues or have questions while making transactions.

Thanks.

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