Binance, the world’s largest cryptocurrency exchange in terms of daily trading volume, came to the fore with its new announcements today. The exchange made statements on Horizen (ZEN), VIDT, Aptos (APT) and Pundi X (PUNDIX). Here are the details…
Binance adds 8 flexible earnings products, announces zero fees for EGP market
Binance has added new coins to its Simple Earn service for Binance users with idle cryptocurrencies. Flexible products now also support APT, PYR, POLYX, VTHO, ASR, JUV, DCR and BAR. The exchange stated that the product will be closed when the subscriptions reach the maximum limit.
Additionally, the exchange has launched a special promotion for Egyptian Pound (EGP) market makers on P2P offers. In this promotion, which will take place between October 19, 2022, 10:00 CEST and 2 November 2022, 08:59 CEST, market makers will be exempt from trading fees for pairs traded with EGP.
Support for Horizen (ZEN) update from exchange
On the other hand, Binance has announced that it will support Horizen (ZEN) network upgrade. Horizen (ZEN) network upgrade, 1,232,222. will occur at block height. This corresponds to approximately 21 October 2022, 06:00 CEST. ZEN deposits and withdrawals will be suspended on the same day, starting at 05:00 CEST. The exchange says that ZEN trading will not be affected during the network upgrade. Binance will meet all relevant technical requirements for all users holding ZEN in their account.
Binance supports changes in VIDT
Additionally, the exchange announced that it will support VIDT Datalink (VIDT)’s token exchange and rebranding scheme. As of October 21, 2022 at 06:00 CEST, VIDT/USDT, VIDT/BUSD and VIDT/BTC isolated margin trading will be suspended. VIDT collateral positions will be closed on October 27, 2022, at 06:00 CEST. All pending VIDT margin orders will be cancelled. Then VIDT/USDT, VIDT/BUSD and VIDT/BTC isolated margin pairs will delist. But they will be re-listed with the new token. Still, the exchange advises users to close their positions before margin trading expires to avoid any potential losses.
VIDT operations on most other services will be suspended until October 31, 2022, at 06:30. On October 31, direct deposits and withdrawals of VIDT will be suspended. Binance will recover all VIDT Datalink (VIDT) balances. Then it will start to distribute the VIDT DAO (VIDT) to all users 1 old VIDT = 10 new VIDTs. The transactions for the new VIDT will start on 9 November 2022, 11 pm. VIDT’s spot trading pairs will again be USDT, BUSD and BTC.
There are new developments for APT and PUNDIX
Binance has added APT and PUNDIX as new collateral assets to the Binance Loans platform. Binance Loans offers a wide variety of options, such as maximum lending limits for supported crypto assets. Apart from that, Aptos (APT) has been added to Binance’s gift card. Users can now create, send or redeem APT gift cards with zero fees in their fund wallet.
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