Upbit STG to ZRO Swap: Deposits Paused March 24

Published: 2026-03-20 07:07:53 |

Upbit announced it will suspend STG deposit and withdrawal services to support the LayerZero token swap and rebrand. The freeze starts at 3:00 a.m. UTC on March 24, 2025. Trading of STG may continue until a later notice, but users must complete external transfers before the deadline. Any STG sent to Upbit after the suspension time will not be credited. Upbit will automatically convert all STG balances to ZRO at a fixed ratio of 1 STG = 0.08634 ZRO. No manual swap is required for users in the exchange wallet. After the migration, STG will be replaced by the LayerZero ticker ZRO, aligning the asset with the LayerZero cross-chain interoperability ecosystem. For traders, the key operational risk is temporary loss of STG transferability around the event window. Portfolio trackers and tax records should be updated for the new ZRO symbol. Liquidity and volume may shift in the short term as holders reposition ahead of the pause and relisting, a pattern seen in prior token migrations such as ANT/ANTv2, MATIC upgrades, LUNC changes, and SUSHI v3 migrations. Upbit’s handling is expected to reduce execution errors typical of large migrations, but short-term uncertainty around swap timing and exchange relisting could still drive volatility.

Neutral

This is primarily a maintenance/asset-migration event: Upbit pauses STG deposits and withdrawals to execute the STG to ZRO swap at a fixed conversion rate (1 STG = 0.08634 ZRO) and performs the conversion automatically. That typically reduces technical risk and prevents user funds from getting stuck due to misconfigured contract interactions—similar to how exchanges handle major token migrations. Short-term, traders may see temporary volatility around the pause and any subsequent relisting timing, driven by holders repositioning, liquidity shifts, and bid/ask spreads as STG transferability is removed. However, because the conversion preserves proportional holdings and Upbit is handling the migration, there’s no direct evidence of value destruction or dilution in the article. Longer-term, if ZRO listings expand liquidity and trading pairs across exchanges, it can become a mild positive catalyst for attention and activity in the LayerZero ecosystem. Still, the headline is operational rather than fundamentally new demand, so the net market impact is best categorized as neutral.