In an official statement, Binance has announced that they will support the Hcash (HSR) mainnet swap to HyperCash (HC).

#Binance Supports #Hcash (HSR) Mainnet Swap to #HyperCash (HC)https://t.co/G778tIofgu pic.twitter.com/18bUTnuryO

— Binance (@binance) August 6, 2018

Deposits and withdrawals of HSR will be suspended starting from 2018/08/06 8:00 AM (UTC), at which point the mainnet swap will begin. Trading will be halted in all HSR trading pairs at 2018/08/08 4:00 AM (UTC). The team at Binance will take an immediate snapshot of all HSR balances at the exact same time, and begin the distribution of HC to all eligible users at a ratio of 1 HSR = 1 HC.

The HCASH Foundation suggests that all community members transfer all of their HSR tokens held within a Hshare desktop wallet to either the HCASH mobile wallet or the HyperPay mobile wallet before the mainchain is upgraded at block height 938,888.

These two mobile wallets will support the mainchain upgrade and will immediately support the new HyperCash (HC) chain PoS mining function, whereas the Hshare desktop wallet will not automatically support the mainchain upgrade. Additionally, the Foundation will not recognize and convert any HSR PoS mining rewards earned after block height 938,888 that have been mined using a desktop wallet.

Currently, block height 938,888 is expected to occur on the 6th of August, ahead of the original schedule. Thus, the development team urges users to conduct the necessary transfers before the end of this week to prevent against unnecessary losses. Right now HShare (HSR) is trading at $5.53 with a gain of 12.29% in the last 24 hours and a market cap of $239.7 million – we will see if this experiences the Binance Effect even though it is not quite a new coin being added to the world's most used alt-coin exchange.

A further announcement relating to the opening of trading will be made at a later date.

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