Binance will remove dozens of pairs from liquidity pools
Date: 2023-08-28 Author: Karina Ziganova Categories: BUSINESS
Cryptocurrency exchange Binance said it will remove dozens of pairs from liquidity pools to ensure trading experience, price and slippage are optimized. This is stated in the message of the platform.
According to the crypto exchange, Binance Liquid Swap will remove some trading pairs from the pools on September 1 . Among them are ADA/BNB, ALICE/BTC, APE/BTC, AVA/USDT, AVAX/BNB, BTC/TUSD, CHZ/BNB and others.
How will the removal of liquidity pools affect users?
Users who hold positions in the specified liquidity pools will automatically receive a refund of their deposited assets on September 1st. Moreover, as of August 28, users will no longer be able to add liquidity to pools.
At the same time, the platform team noted that the removal of 39 trading pairs from liquidity pools does not affect the trading of the corresponding pairs on the spot market.
Binance asks crypto projects to increase liquidity
The reporters found out that Binance is asking low-cap projects to work on increasing liquidity in order to eliminate possible market manipulation.
Thus, the platform staff spoke with a number of cryptocurrency projects and asked them to describe in detail their relationship with market makers. Moreover, they asked to contribute project tokens to Binance savings products. The exchange team also asked for an explanation as to why the projects in question did not enter into relationships with market makers or did not want to contribute to its savings products.
