Binance, the largest cryptocurrency exchange in terms of daily trading volume, made a new announcement for an altcoin. According to the announcement, the exchange is removing a cryptocurrency from its margin trading services. Here are the details…
Binance is removing this altcoin project from margin trading
Binance, the largest cryptocurrency by volume, has announced that it will remove dForce (DF) from isolated margin trading. The delisted pair appears as DF/BUSD. BUSD is Binance’s own stablecoin. This stablecoin is pegged 1:1 to the US dollar. The delist transaction will take place on September 20 at around 6 pm. Users can still trade this asset for other trading pairs available on Binance.
Binance also suspended isolated margin borrowing for DF today. On the morning of September 30, Binance will close users’ positions, making an automatic payment. DF/BUSD will cancel all pending orders on the isolated margin pair. He will then remove this couple from Isolated Margin.
What is DF?
So, what is the dForce (DF) Binance will extract from its isolated transactions? DForce covers assets, lending, trading, staking, serving as DeFi infrastructure on Web3. DForce DAO is a community driven project with major protocol changes driven by the community and jointly decided by DF token holders through management. Stablecoin USX USX is the flagship DeFi product in dForce’s protocol ecosystem. As an algorithmic stablecoin, USX implements a dual model (pool-based and vault-based) with hybrid interest rate policy, making it highly efficient and flexible to support collaterals of different risk profiles separately.
USX is powered by protocol-controlled liquidity to facilitate protocol-to-protocol integrations, as well as cross-chain bridge that allows users to move USX between supported Blockchains with zero slippage and unlimited limits. dForce Lending dForce Lending is a pool-based multilateral lending protocol that supports multiple collaterals with a market-driven dynamic interest rate model.
dForce Staking dForce offers a hybrid model with both Free Staking and Lock-up Staking. Staking unlocks a new approach for DF token holders to earn fee income through the dForce network. Those who participate in Free Stake can stake at any time, while those who are affiliated with Lock-up Staking gain higher yields and voting power.
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