In a recent development, Binance, one of the leading cryptocurrency exchanges, announced its decision to remove certain liquidity pools from the Liquid Swap platform. This move aims to intensify liquidity to provide an optimized trading experience for users, better pricing and less price fluctuations. Here are the details…
Announcement for liquidity pools from Binance exchange
In a recent update, Binance, a leading cryptocurrency exchange, drew attention. Zira has announced its intention to remove certain liquidity pools from the Liquid Swap platform. This decision aims to provide users with an enhanced trading experience. It is also important for the stock market to offer better prices for users. Apart from that, the exchange aims to consolidate liquidity for less slippage in price. The affected liquidity pools will be removed on September 1, 2023 at 07:00 CEST. Binance users holding positions in any of the following liquidity pools will receive their deposited assets directly into their spot wallets at the specified time:
- ADA/BNB
- ALICE/BTC
- APE/BTC
- AVA/USDT
- AVAX/BNB
- BTC/TUSD
- CHZ/BNB
- CHZ/BTC
- CTSI/BNB
- DOT/BUSD
- ENJ/USDT
- FIL/BNB
- FRONT/BUSD
- GALA/BNB
- ICP/BNB
- ID/BTC
- KDA/USDT
- LIT/USDT
- MATIC/BNB
- NEO/BNB
- PAXG/USDT
- PEPE/USDT
- SANTOS/USDT
- SUSHI/BNB
- SUSHI/BTC
- SXP/BNB
- SXP/BTC
- THETA/BNB
- THETA/BTC
- TKO/USDT
- TLM/USDT
- TRX/BNB
- TRX/ETH
- WBTC/ETH
- XMR/ETH
- XMR/USDT
- XVS/BTC
- XVS/USDT
- ZEN/USDT
What does this announcement indicate?
It is important to note that the removal of these liquidity pools will not affect the trading of the respective pairs on Binance Spot. Users can continue to engage in trading activities using other available liquidity pools on the Liquid Swap platform. There is a window of opportunity before 1 September 2023 at 07:00 for users wishing to use their assets in the affected liquidity pools. After this date, assets deposited in liquidity pools will be automatically transferred to users’ Spot wallets according to the current composition rates of the respective pools.
In addition, Binance stated that users will not be able to add liquidity to the specified liquidity pools as of August 28, 2023 at 09:00. In other words, as of the time of publication of this article, users cannot add liquidity to these 39 liquidity pools. This move by Binance indicates that the exchange is fine-tuning the availability and concentration of liquidity on its platform. According to some, it underlines the exchange’s commitment to improving the trading experience for its users. Users need to review the timeline provided by Binance to ensure a smooth transition to their assets. They are also advised to heed the instructions.
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