Binance, the largest cryptocurrency exchange, shared new announcements involving various altcoins. Here are the details…
Binance supports Polygon update
Binance, one of the world’s leading cryptocurrency exchanges, has announced its support for the upcoming Polygon (MATIC) network upgrade and hard fork. The upgrade is planned to take place at a Polygon block height of 44,934,656 Polygon, which is estimated to occur around 07:00 on July 11, 2023. To facilitate the upgrade, Binance will temporarily suspend MATIC deposits and withdrawals from approximately 6:30 am on July 11. It is important to note that MATIC trading will not be affected during the network upgrade and hard fork. Users will be able to continue trading MATIC on Binance without any interruptions.
Binance will fulfill all technical requirements for users holding MATIC in their Binance account, ensuring a smooth transition throughout the upgrade process. Network upgrade and hard fork of Polygon (MATIC) will not result in the creation of new tokens. It aims to increase the functionality and performance of the Polygon network. Binance will reopen deposits and withdrawals for MATIC once it determines that the upgraded network is stable. Users will not receive a separate notification regarding this matter.
WOO Network integrated into Arbitrum
On the other hand, Binance has successfully integrated the WOO Network (WOO) into the Arbitrum One network. As a result, deposits and withdrawals for WOO Network (WOO) are now open on the Arbitrum One network. Users can find their assigned WOO Network (WOO) deposit addresses on the Arbitrum One network on the Deposit Crypto page on the Binance platform. The WOO Network (WOO) smart contract address on the Arbitrum One network can also be found on Binance’s website.
A new Range Bound product line is introduced
In addition, Binance has introduced a new Range Bound product line designed to offer users the opportunity to earn higher rewards during periods of low market volatility. Range Bound products allow users to earn rewards when the price of a selected digital asset stays within the selected price range for the duration of the subscription. Users can choose their preferred price range, payment date and the portion of their subscription amount they want to risk.
The higher the subscription amount at risk, the higher the potential annual percentage rate (APR) they can earn. Range Bound products are available for BTC, ETH, BNB, and ATOM, and subscriptions are allocated on a first come, first served basis. To get started with Range Bound, users can visit the dedicated Range Bound page on Binance’s platform. They can then select the product they want, select the appropriate price range, potential APR, settlement date, and enter the subscription amount. Subscriptions can be made using USDT, BUSD or, where appropriate, the selected crypto asset.
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