Binance, one of the world’s leading cryptocurrency exchanges, made a new announcement. In particular, it said it was reviewing several liquidity pools on the Liquid Swap platform. As a result, he said he would remove (delist) some pairs. Thus, it announced that it had made a strategic move to optimize the trading experience for its users. This decision aims to concentrate liquidity, reduce price slippage and provide investors with better trading prices. Here are the details…
Binance made an announcement for these altcoin pairs
Important announcements came from Binance, the largest cryptocurrency exchange in terms of daily transaction volume. The stock market announced its new decision affecting 8 altcoin pairs today morning. Because in its official announcement, Binance announced that some liquidity pools will be delisted. He stated that this is planned to come into force on September 29, 2023, at 07:00 GMT. The pools that will be delisted are:
- ATOM/BUSD
- AVAX/BUSD
- ETC/BUSD
- JOE/USDT
- KSM/BTC
- OOKI/USDT
- STG/USDT
- SUI/BTC
The assets deposited by users who already have positions in any of the liquidity pools listed above will be replaced. Because it will be automatically transferred to their spot wallet at the specified time. It is important to note that the removal of these liquidity pools will not affect trading of the respective pairs on Binance Spot. Investors can continue to access and trade these pairs through Binance’s spot trading platform.
What is the timeline for the Delist process?
In addition, users will not be able to add liquidity to soon-to-be delisted liquidity pools starting September 26, 2023 at 09:00 UTC. However, they have the option to redeem their assets from these pools before the removal date on September 29, 2023 at 07:00 UTC. After this date, assets remaining in liquidity pools will be calculated according to the current composition rates of the relevant pool and automatically transferred to users’ Spot wallets. This change is consistent with the dynamic nature of liquidity pools, where composition rates can fluctuate over time. For more detailed information about these changes and answers to frequently asked questions, users are encouraged to consult the FAQ provided by Binance.
This move by Binance to optimize the Liquid Swap platform is critical. Because it reflects the exchange’s determination to offer the best possible trading experience to its users. Concentrating liquidity and reducing slippage are essential steps to ensure efficient and cost-effective trading in the cryptocurrency market. The cryptocurrency industry continues to develop. Meanwhile, exchanges like Binance are constantly adapting to meet the needs of their users. This announcement underscores Binance’s commitment to remaining at the forefront of the industry and providing a platform that adds value to its growing user base.
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