Binance has announced its support for the upcoming Stratis network upgrade and hard fork, which will introduce masternode staking to the mainnet.
The upgrade aims to enhance network resilience and security while incentivizing greater community participation among STRAX token holders. Masternode staking will offer participants rewards and governance opportunities, fostering increased decentralization.
To ensure a smooth transition during the upgrade, Binance will temporarily suspend deposits and withdrawals of STRAX tokens starting at 10:00 UTC on the day of the event. Trading of STRAX on the platform will remain unaffected.
This move builds on Binance’s prior experience managing the Stratis token swap in March 2024, demonstrating the exchange’s capability to facilitate complex network transitions. The introduction of masternode staking is anticipated to boost developer interest and expand the utility of the STRAX token, strengthening Stratis’s position within the competitive cryptocurrency ecosystem.