Constant ONE transfer issues

Community
1

Good afternoon from down under. I just found this Harmony community forum.

My Australian centralised exchange, Swyftx, has transfers of Harmony ONE to Metamask wallets regulary disabled. As I type this message, this is currently the case. In fact, I’d say more often than not, ONE transfers are not operational. Can someone working in the Harmony organisation please advise why this is happening.
I am in the process of bringing new investors into the Harmony ecosystem and it is embarassing and frustrating when they buy ONE on a CEX & can then not transfer that into Metamask to access the world of DEX’s.

Thanks
Justin

2 Likes
2

I’m not from the team, but this is my opinion:
The blockchain works fine. CEXs decide when they disable withdrawals. Mostly that’s less a problem with the chain, but bad liquidity management of the CEX.

Either they don’t have the assets at all or they have a too high portion staked and due to lockups cannot meet high withdrawal demand.

So the exchange is responsible when it cannot provide withdrawals. I would encourage not using exchanges that do that too often. E.g. Binance US is also infamous for blocking ONE withdrawals.

There are also alternatives for getting on chain ONE tokens, some doesn’t require a CEX. You can find an overview here:

1 Like
3

That’s very interesting indeed. Thanks for your thoughts.
Which exchange do you use?

4

Binance also disables withdrawals of $one more often than not

It’s a massive issue

And i don’t forsee it being fixed. You may need to find a new exchange, unfortunately

5

I know the team will look at this and respond. They need to forsee this kind of challenges

6

This has been an issue with binance since well into last year

There has been no change. If anything, it’s gotten worse

7

Im on regular Binance, which also disables withdrawals sometimes. Had no problems so far when using KuCoin (but use it barely).

1 Like
8

Thank you for this alternative

9

So I’ve been told that the problem IS being caused by the Harmony blockchain. There is heavy congestion on the blockchain and therefore Binance has been having to suspend withdrawals to allow the congestion to clear.
This would backed up by the fact that the block explorer has problems retrieving transactions & has had this problem for a while now.

1 Like
10

The explorer definitely needs an upgrade but Binance is problematic with allowing ONE withdrawals which has nothing to do with network congestion just bad business practices. As soon as you can withdraw all your ONE from Binance, do it.

11

Told by whom?

Back in January Binance blamed their 2-3 week withdrawal shutdown on Harmony, when the protocol went offline for a couple days

The only problem with that being that Binance halted withdrawals a week before the Harmony issue even occurred!

1 Like
12

My Withdrawal from Binance to Metamask ist stuck in processing since 4 Days. Now 15,000 One are stuck, will i ever get access to It ? Is there a SOlution ? Thanks for your help.