According to the official news from the Open Custody Protocol (OPEN) project team, the Open Custody Protocol (OPEN) tokens will be migrated to Levva Protocol Token (LVVA) at a ratio of 1:1. Gate.io will support this migration and provide seamless token migration services for users. OPEN holders on Gate.io do not need to take any action.

Gate.io will take the following steps for the migration:

1) Starting from March 3, 2025, at 03:00 UTC, Gate.io will suspend the deposit, withdrawal, and trading services for OPEN, including the OPEN_USDT spot trading pair and quantitative grid trading.
2) Users who have active quantitative grid trading positions for OPEN should adjust their trading strategies beforehand. Otherwise, the trades will be terminated automatically before March 3, 2025, at 03:00 UTC.
3) New Levva Protocol (LVVA) Token ID: 0x6243558a24CC6116aBE751f27E6d7Ede50ABFC76 (ERC20)

Please note that Gate.io will no longer support Open Custody Protocol (OPEN). The listing time for Levva Protocol Token (LVVA) will be announced separately after Gate.io completes the listing review.

Project Team’s Announcement: https://x.com/OpenCustody/status/1889605017004290353

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Gate.io Team
February 28, 2025