Binance Completes AVA Token Swap to Ethereum ERC20

Binance, one of the world’s leading cryptocurrency exchanges, announced the completion of the contract swap and rebranding of’s native token, AVA. The rebranding and contract swap transition the token from its previous BEP2 and BEP20 standards to the Ethereum ERC20 network.

Key Details

New Smart Contract Address: The new AVA (ERC20) token will operate under the smart contract address 0xa6C0c097741D55ECd9a3A7DeF3A8253fD022ceB9.

Deposits and Withdrawals: Binance has opened the gates for deposits and withdrawals of the new AVA (ERC20) tokens as of September 5, 2023, 12:00 PM.

Old Tokens Renamed: The old BEP2 and BEP20 AVA tokens have been renamed to AVAOLD and will continue to be listed under this ticker on Binance.

Token Swap: Users holding the old AVA tokens, now termed as AVAOLD, can swap these for the new AVA (ERC20) tokens at a 1:1 ratio using the convert function on Binance. However, withdrawals of AVAOLD tokens will not be supported going forward.

Implications for Users

For users, the transition means they will need to deposit their old AVA tokens, now termed AVAOLD, and use the convert function on Binance to swap these for the new ERC20-based AVA tokens. The swap is facilitated at a 1:1 ratio, ensuring no loss of value for the token holders.

Context and Significance

The move to the Ethereum ERC20 standard could potentially offer AVA token greater interoperability and a broader ecosystem for decentralized applications (dApps). Ethereum’s network is one of the most robust and widely-adopted platforms for smart contracts, which could provide AVA with increased utility and adoption rates.

Official Statement

In their official release, Binance stated, “Binance has completed the (AVA) contract swap and rebranding plan to AVA (AVA) on Ethereum (ERC20) network. Deposits and withdrawals for the new AVA (ERC20) tokens are now open.”


The contract swap and rebranding of’s AVA token to the Ethereum ERC20 standard mark a significant milestone in the token’s lifecycle. With the transition complete, users are advised to swap their old tokens for the new ERC20-based AVA tokens to continue participating in the ecosystem.

Image source: Shutterstock


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Ethereum Rival Surpasses Shiba Inu and Dogecoin to Become 10th Largest Crypto Asset by Market Cap

An Ethereum competitor has surged past Shiba Inu (SHIB) and Dogecoin (DOGE) in market cap and is now the 10th largest crypto asset in existence.

Following a massive seven-day rally, Avalanche (AVAX) has attained a market cap of $30.03 billion, closely followed by DOGE’s $29.6 billion. SHIB is now behind DOGE with a market cap of $24.8 billion. 

The rise of AVAX follows news that Ava Labs, the company behind the smart contract platform, entered a strategic partnership with Big Four accounting firm Deloitte, which provides accounting services for the majority of Fortune 500 companies.

The deal enables Deloitte to use the Avalanche blockchain in its new disaster recovery platform Close As You Go (CAYG), which was built to streamline the reimbursement processes for victims of natural disasters.

AVAX is showing strong network effects and adoption rates. Avalanche now has 99,401 daily active addresses, an exponential rise from just 1,890 on August 1st.

Source: Avalanche

Monthly active addresses also rose from just 90,565 in August to 471,785 in November. In January, the number was 3,382. 

Source: Avalanche

Avalanche utilizes a proof-of-stake consensus mechanism, which rewards holders of AVAX who lock up their tokens in order to help power the network.

The network confirms transactions in a matter of seconds and is completely compatible with the Ethereum development kit, allowing developers to easily port projects over to the network.

In September, Avalanche announced a $230 million funding round led by Polychain and Three Arrows Capital, with contributions from R/Crypto Fund, Dragonfly, CMS Holdings, Collab+Currency, and Lvna Capital.

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Featured Image: Shutterstock/Tithi Luadthong


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