There is important news from Binance, the largest cryptocurrency exchange by daily trading volume. Here are the exchange’s latest announcements for 11 altcoins, including AAVE.
Binance adds TOMO to margin trading
Binance, the world’s largest cryptocurrency exchange by transaction volume, first made a statement about TomoChain (TOMO). He stated that TOMO has been added to Cross Margin as a new loan asset. Also, Binance announced the introduction of new collateral assets for the VIP Loan. Cross Margin is a margin trading feature that allows users to borrow funds to trade using their existing assets as collateral. Binance users, who have added TOMO to the list of borrowed assets, can now use their TOMO assets to borrow funds and increase their trading power.
TomoChain is a blockchain network that uses a delegated proof-of-stake (PoS) consensus mechanism of 150 masternodes. TomoChain aims to be a public EVM compliant Blockchain with the following advantages: low transaction fee, fast confirmation time, double verification, and “randomization” to guarantee security.
Binance adds 10 more coins including AAVE for VIP Loan
In addition to the TOMO announcement, Binance VIP Loan added 10 new collateral assets: AAVE, CRV, EOS, 1INCH, AGIX, CAKE, ICP, RDNR, STX and XLM. Thus, the total number of collateral assets in Binance VIP Loan has exceeded 50. cryptocoin.com As we reported, Binance VIP Loan is a personal and corporate over-collateralized loan service that provides users with more liquidity for long-term mutual funds, leveraged trading and hedging strategies. With competitive rates, terms and services, Binance VIP Credit is designed to help users unlock their full potential in meeting their investment goals.
All collateral assets on Binance VIP Loan are subject to Margin Ratios, which determine the maximum amount that can be borrowed for a given asset. Tokens with lower liquidity generally have lower margin rates. When taking larger deductions, different margin rates may apply for the same token depending on the collateral amount.
In summary, Binance’s recent announcements demonstrate the exchange’s commitment to providing users with access to new and innovative products and services that will help them achieve their investment goals. As a result, the exchange adds TOMO as a new loan asset to Cross Margin. On the other hand, Binance offers new collateral assets for VIP Loan. Thus, Binance gives its users even more flexibility and choice in how they manage their crypto assets.
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