BinaryX (BNX) to FORM Token Swap Timeline
Important Notes
- All times are in UTC
- BNX trading and withdrawals ended permanently on March 19, 2025
- Swap was executed automatically on Binance
- Conversion ratio: 1 BNX = 1 FORM
Swap Timeline
BNX/USDC, BNX/USDT, BNX/TRY spot pairs removed - trading stopped.
Preparation for swap started - no more BNX deposits or withdrawals.
1 BNX = 1 FORM conversion began.
Spot trading for FORM/USDC, FORM/USDT, FORM/TRY pairs started.
Users could start moving the new FORM token.
Withdrawals of FORM enabled - BNX withdrawals permanently disabled.
User Impact Guide
Binance Custodial Accounts
FORM tokens appeared automatically. No action required.
Non-Custodial Wallets
Deposit BNX to Binance before cutoff (March 18, 03:30 UTC). Withdraw FORM afterward.
Cold Storage
Send BNX to Binance, wait for swap, then transfer FORM back to cold storage.
Market Analysis
- Pre-swap price: ~$1.20
- Post-swap price: ~$1.20 (1:1 parity)
- Supply unchanged - no price spike expected
- Technical indicators showed deep oversold conditions
FAQ Summary
Q: Did I need to do anything?
If your BNX was on Binance before cutoff, FORM appeared automatically.
Q: Is there a future airdrop?
No additional airdrops announced by the team.
Q: Can I still trade BNX?
No - all exchanges disabled BNX permanently on March 19, 2025.
Q: What was the conversion ratio?
1 BNX = 1 FORM (no dilution).
Q: How did the market react?
FORM opened at parity with BNX (~$1.20). Stable price due to unchanged supply.
Q: Why no traditional airdrop?
The swap itself was the complete distribution. No extra tokens issued.
When the crypto world heard about the BinaryX token swap, a lot of holders wondered whether they needed to claim a free airdrop or simply wait for an automatic conversion. The reality is that BinaryX didn’t launch a traditional airdrop; instead, it executed a mandatory 1:1 token swap that turned every BNX token into a FORM token. Below you’ll find everything you need to know - from the exact dates and technical steps to how the market reacted and why the event wasn’t an airdrop at all.
TL;DR - Quick Takeaways
- BinaryX (BNX) was rebranded to Four (FORM) on March 18‑19, 2025.
- The swap ratio was fixed at 1BNX = 1FORM - no dilution.
- Binance handled the swap automatically; users kept their tokens on the exchange.
- Deposits/withdrawals of BNX stopped permanently on March 19, 2025.
- No separate airdrop was distributed - the swap itself was the only token movement.
What Exactly Happened? - Token Swap vs. Airdrop
BinaryX is a GameFi and Web3 gaming ecosystem that launched its native BNX token in 2023 to power in‑game purchases, staking, and governance. By early 2025 the team announced a rebranding to Four (ticker FORM), a move aimed at broadening the platform’s appeal beyond gaming. Rather than giving users a free "airdrop" of new coins, the project required every holder to swap their BNX tokens for FORM tokens on a 1:1 basis.
An airdrop typically means a project distributes new tokens to existing wallets without any action needed, often as a promotional gesture. In this case, the swap was mandatory and executed through major exchanges, meaning the old token would cease to exist once the transition completed. Holders who kept their BNX on Binance saw FORM appear instantly in the same wallet - no claim forms, no gas fees.
Timeline - Every Minute of the Swap Process
| UTC Time | Event |
|---|---|
| 2025‑03‑18 03:00 | Binance removed BNX/USDC, BNX/USDT, BNX/TRY spot pairs - trading stopped. |
| 2025‑03‑18 03:30 | Binance halted all BNX deposits and withdrawals to prepare for the swap. |
| 2025‑03‑18 04:00 | Swap smart contract activated; 1BNX=1FORM conversion began. |
| 2025‑03‑19 08:00 | Spot trading for FORM/USDC, FORM/USDT, FORM/TRY launched. |
| 2025‑03‑19 09:00 | Deposits of FORM opened; users could start moving the new token. |
| 2025‑03‑19 09:30 | Withdrawals of FORM enabled - BNX withdrawals permanently disabled. |
The swap was fully automated on Binance’s back‑end. Users who held BNX in non‑custodial wallets had to follow the exchange’s instructions to move tokens to Binance, claim FORM, and then transfer the new tokens back if they preferred.
How the Swap Affected Different Types of Holders
Binance is one of the world’s largest crypto exchanges, offering both custodial wallets and API‑driven trading. Because the swap was executed on‑chain through Binance’s internal systems, the experience differed based on where your BNX lived:
- Binance custodial accounts: The moment the swap contract fired, FORM tokens appeared automatically. No action required.
- External non‑custodial wallets (MetaMask, Trust Wallet, etc.): You needed to deposit BNX to Binance before the cut‑off (03:30UTC on March18). After the swap, you could withdraw FORM back to your personal wallet.
- Cold storage (hardware wallets): Since cold wallets cannot receive automatic swaps, the only path was to send BNX to Binance, let the swap happen, then move FORM back to cold storage.
Any BNX left on the blockchain after March19 was effectively lost, as the token contract no longer accepted transfers.
Market Reaction - Price, Sentiment, and Technical Indicators
Before the swap, BNX traded around $1.20. Analysts at CoinCodex projected a price channel of $1.02-$3.21 for the rest of 2025, but those forecasts were based on the pre‑swap token.
Technical metrics on the eve of the transition painted a bleak picture:
- Fear & Greed Index: 44 (Fear)
- 14‑day RSI: 17.4 (deeply oversold)
- 50‑day SMA: $3.29; 200‑day SMA: $2.48
- Volatility: 27.39%
After FORM launched, the new token inherited the same liquidity pool, but traders treated it as a fresh asset. Within 24hours, FORM settled near the 1:1 parity with BNX, hovering around $1.20. The swap itself didn’t create a price spike because the supply remained unchanged.
Why There Was No Traditional Airdrop
The term “airdrop” often misleads newcomers into expecting free tokens that don’t affect the existing supply. BinaryX’s rebranding required a clean break - the old BNX token was retired, and the new FORM token would carry all future utility. Giving away extra FORM beyond the 1:1 swap would have inflated the token supply and undermined the project’s economics.
In short, the swap was the airdrop. Every eligible BNX holder received an equal amount of FORM, nothing more, nothing less.
What Comes Next for the Four (FORM) Ecosystem?
While detailed roadmaps weren’t part of the public data, the rebranding signals a shift towards broader Web3 applications beyond pure gaming. The FORM token now serves as the primary medium for staking, governance, and potential cross‑chain collaborations. Holders should keep an eye on the official BinaryX (now Four) channels for announcements about upcoming game launches, NFT integrations, and partnership expansions.
Quick Checklist for BNX Holders
- Did you hold BNX on Binance before March18202503:30UTC? - ✅ You already have FORM.
- Did you keep BNX in a personal wallet? - 📥 Deposit to Binance, wait for FORM, then withdraw.
- Is BNX still showing in your wallet after March19? - ❌ It’s dead; transfer any remaining balance to Binance for conversion.
- Do you need to claim airdrop? - ❎ No separate airdrop; the swap is the whole distribution.
- Want to trade FORM? - 📈 Use FORM/USDC, FORM/USDT, or FORM/TRY pairs on Binance.
Frequently Asked Questions
Did I need to do anything to receive FORM tokens?
If your BNX was on Binance before the cut‑off, FORM appeared automatically. Otherwise you had to deposit BNX to Binance, wait for the swap, then withdraw FORM.
Is there any chance of a future airdrop for FORM holders?
The team hasn’t announced any additional airdrops. Any future token distributions would be communicated through official channels.
Can I still trade BNX on any exchange?
No. All major exchanges, including Binance, disabled BNX trading and withdrawals permanently on March19, 2025.
What was the conversion ratio and why?
The ratio was 1BNX = 1FORM. The project chose a 1:1 swap to avoid diluting existing holdings and to keep tokenomics simple for the rebranded ecosystem.
How did the market react after FORM launched?
FORM opened at parity with BNX (~$1.20). Trading volume spiked briefly as users moved tokens, but price stayed stable because the supply didn’t change.
Edgardo Rodriguez
December 24, 2024 AT 14:00The BinaryX to FORM swap, while appearing as a straightforward 1:1 conversion, actually underscores a deeper narrative about how branding decisions, in the volatile realm of crypto, can reshape community perception, it invites us to question whether token rebranding is merely cosmetic or a strategic maneuver to capture new market segments, the timeline laid out in the article, with its precise UTC markers, serves as a compelling case study for project governance, each timestamp, from the removal of BNX pairs to the activation of the smart contract, reflects a choreography that balances technical execution with user communication, one might argue that the over‑punctuated schedule, replete with commas, semicolons, and colons, mirrors the complexity of coordinating exchanges, wallets, and smart contracts across disparate jurisdictions, furthermore, the decision to forgo a traditional airdrop, opting instead for an automatic swap, challenges the classic narrative of free token distributions that often inflate supply, this approach, while elegant in its simplicity, also places the onus on holders to have their assets on Binance, thereby subtly rewarding custodial users over non‑custodial enthusiasts, the market reaction, as detailed, shows a calm parity, yet the underlying sentiment among traders, especially those wary of centralization, may harbor lingering doubts, from a philosophical standpoint, the swap raises questions about ownership, agency, and the fluidity of value in digital assets, does the act of swapping erase the historical identity of BNX, or does it preserve it in a new guise, the answer likely lies in the community’s collective memory, which will continue to reference BNX in retrospectives, the technical details, such as the smart contract activation at 04:00 UTC, illustrate the precision required to avoid slippage or loss, users who neglected to move their BNX before the cut‑off faced the grim reality of a dead token, a cautionary tale for future rebrandings, in sum, the event, though administratively seamless, offers a microcosm of broader themes in crypto evolution, it reminds us that every token swap is not merely a ledger entry, but a narrative shift, and as observers, we must remain vigilant, analytical, and philosophically curious, lest we miss the deeper implications hidden behind the dates and ratios.
mudassir khan
December 24, 2024 AT 15:06The article provides a thorough chronology, yet it glosses over the strategic rationale behind the rebranding; a more rigorous analysis of the tokenomics impact would have been beneficial, moreover, the omission of user sentiment data, especially from non‑custodial holders, limits the comprehensiveness of the piece, while the timeline is precise, the lack of discussion on potential regulatory implications is a notable gap, in a formal assessment, these shortcomings should be addressed.
Bianca Giagante
December 24, 2024 AT 16:13I appreciate the clear breakdown of events, as it helps newcomers understand the swap process; the inclusion of both custodial and non‑custodial scenarios is particularly helpful, it’s encouraging to see the project maintain transparency, and the FAQs address many common concerns, which is commendable, that said, future updates could benefit from more community‑driven insights, perhaps by featuring user testimonials, overall, the article serves as a solid reference point.
Andrew Else
December 24, 2024 AT 17:20Wow, another perfectly smooth token swap, because nothing ever goes wrong.
Susan Brindle Kerr
December 24, 2024 AT 18:26So they just killed BNX and gave us FORM, like that’s a great idea, and now everyone’s supposed to be happy, but it feels like a gimmick.
Jared Carline
December 24, 2024 AT 19:33While the sentiment expressed above is understandable, it is imperative to recognize that the rebranding aligns with broader strategic objectives, and dismissing it as a mere gimmick overlooks the potential for ecosystem expansion.
raghavan veera
December 24, 2024 AT 20:40You know, swaps like this are like changing your name, you keep the same soul but everyone thinks you’re new, it’s a strange feeling in crypto.
Danielle Thompson
December 24, 2024 AT 21:46Great job staying on top of the deadline! 👍
Eric Levesque
December 24, 2024 AT 22:53If you missed the swap, you’re out of luck, no refunds.
Emma Szabo
December 25, 2024 AT 00:00What a vivid transformation! Watching BNX blossom into FORM feels like witnessing a phoenix rise, and the community’s resilience shines brighter than ever.
Fiona Lam
December 25, 2024 AT 01:06Stop sugar‑coating it, it’s just a cheap rebrand to grab hype, and everyone’s falling for the hype train.
OLAOLUWAPO SANDA
December 25, 2024 AT 02:13I think the whole thing is overhyped, the token will probably fade soon.
Alex Yepes
December 25, 2024 AT 03:20While the criticism presented in the preceding comment raises valid points regarding marketing tactics, it is essential to balance such observations with an acknowledgment of the technical robustness of the swap mechanism, the meticulous timetabling, and the anticipated utility expansions anticipated by the development team; in this context, the rebranding may serve strategic purposes beyond immediate hype, potentially fostering broader adoption across diversified platforms.
Sumedha Nag
December 25, 2024 AT 04:26Really, I don’t see any real benefit, just another way for the project to look busy.
Holly Harrar
December 25, 2024 AT 05:33Thiss article haz all the info u need, just make sure u move ur BNX quick!
Vijay Kumar
December 25, 2024 AT 06:40Overall, the swap appears to have been executed smoothly; users should monitor liquidity and stay engaged with upcoming announcements, as the project's future developments could provide additional opportunities.