In a significant development for the cryptocurrency community, Binance, one of the leading crypto asset exchanges, recently announced major updates to its liquidity mining and margin trading services. These strategic changes are scheduled to go into effect on January 19, 2024 and demonstrate Binance’s commitment to delivering the best value and maintaining a competitive edge in the ever-evolving cryptocurrency world.
Binance liquid swap pools are being removed
Binance will discontinue its liquidity mining service and remove certain liquidity pools from Binance Liquid Swap effective January 19, 2024 at 12:00 Eastern Eighth Zone time. Affected pools include BNB/BTC, BNB/ETH, BTC/ETH, BTC/WBTC, TUSD/USDT and WBETH/ETH. This strategic decision stems from Binance’s proactive approach to regularly reviewing its product offerings, ensuring that it focuses on delivering the most valuable services to its large user base.
One notable aspect of this transition is that starting January 15, users will no longer be able to add liquidity to the aforementioned pools. Additionally, users should be aware that all SAPI and WSS endpoints for Binance Liquid Swap will be deprecated after January 26th. To facilitate a smooth migration, users are strongly advised to disconnect their systems from the relevant endpoints before the stipulated date.
New pairs are added on the margin
Simultaneously, Binance Margin introduced Dock (DOCK) as a new lending asset on Cross Margin. Aiming to expand the trading options available to users, Binance Margin has also added new trading pairs to both Cross and Isolated Margin. The newly added Cross Margin pairs consist of ARB/FDUSD, DOCK/USDT and SOL/USDC. In parallel, enhanced Isolated Margin pairs now include ARB/FDUSD, OP/FDUSD and SOL/USDC. This wide-ranging initiative is in line with Binance Margin’s goal of improving user trading experience by offering a diversified range of options and providing greater flexibility in creating trading strategies.
As Binance implements these significant changes, users are strongly advised to follow the updates and take necessary actions well in advance of the anticipated dates. It is very important to emphasize that the removal of liquidity pools has no impact on the trading of the relevant pairs on Binance Spot. For a comprehensive understanding of these changes and potential risks, users are encouraged to consult the Liquid Swap Terms of Use and FAQ provided by Binance. The cryptocurrency community is eagerly awaiting the implementation of these changes, which herald a new chapter in Binance’s ongoing commitment to innovation and user-centric services.
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