On the evening of March 10, Binance officially issued a "To the STEEM Community" apologizing for the dispute over the Steem voting incident. Binance stated that due to poor information communication, Steem voted as a "normal upgrade / fork behavior" and participating in the vote caused controversy, but after receiving feedback from the STEEM community, Binance has cancelled the vote. Binance emphasizes that it will always remain neutral and has no intention to participate in on-chain governance outside the Binance ecosystem. At the same time, normal upgrade / fork behavior is supported now and in the future. Binance said it hoped that the STEEM community and TRON could reach a consensus as soon as possible. If due to the failure of the two parties to reach a consensus, the rights of Binance platform STEEM holders will be affected, Binance will take necessary measures on the premise of understanding the willingness of the holders.
In addition, Binance also said that it has completed the "Power Down" operation on the 31.73 million STEEMs participating in the voting. According to the STEEM voting rules, after the Power Down operation, the STEEM pledged will be gradually unlocked and disqualified for 13 weeks, and 1/13 of the tokens will be unlocked and disqualified for voting each week. Based on the current VESTS / STEEM ratio of 0.0005103, a total of 24,692 STEEM staking proceeds were obtained through a 7-day pledge, valued at approximately US $ 5,086. This proceeds will be all distributed to users who hold STEEM on the Binance platform when voting.