Crypto exchange giant Binance announced that it will remove 22 liquidity pools listed on Binance Liquid Swap. The cryptocurrency exchange will close the 22 liquidity pools it offers for 22 altcoins on November 10th.
Here are the Liquidity Pools to be Removed
Binance stated that the liquidity pools listed on Binance Liquid Swap are periodically reviewed for optimization of trading experience, increasing liquidity, reducing slippage, and offering users better transaction prices. As a result, Binance will remove the 22 liquidity pools for 22 altcoins at 07:00 AM UTC on November 10th.
In this regard, Binance will remove AGIX/USDT, ALGO/USDT, ANT/USDT, BNB/USDC, CFX/USDT, DAR/USDT, ETC/USDT, FET/USDT, GAL/USDT, GRT/USDT, LDO/BTC, LDO/USDT, MAGIC/USDT, NEAR/USDT, NEO/ETH, OP/BTC, OP/USDT, SAND/USDT, SC/USDT, SUSHI/USDT, UNI/USDT, and WRX/USDT liquidity pools. Assets deposited by users in these liquidity pools will be automatically transferred to their spot wallets on November 10th.
Removing the above-mentioned 22 liquidity pools will not affect the trading of the aforementioned trading pairs listed on Binance Spot. Users will still be able to trade in other liquidity pools on Binance Liquid Swap.
Starting from 07:00 AM UTC on November 6th, users will not be able to add liquidity to these liquidity pools, and they will be able to withdraw their deposited assets from the liquidity pools before 07:00 AM UTC on November 10th. The assets of users who do not withdraw their assets from the liquidity pools will be automatically transferred to their spot wallets according to the current composition ratios of the respective pool.
What is Binance Liquid Swap?
Binance Liquid Swap is a service offered by the cryptocurrency exchange Binance, which allows users to swap their cryptocurrencies by participating in automatic liquidity pools and earn income by providing liquidity. The service operates with automatic price adjustments for users to swap their cryptocurrencies, making trading faster and easier.
The service allows users to swap a specific cryptocurrency pair, and prices are determined by automatic pricing mechanisms that enable users to trade. This eliminates the need for users to deal with market prices while trading. Binance Liquid Swap service offers low transaction fees, making it more convenient for users to swap their cryptocurrencies and provide liquidity.
Binance Liquid Swap enables users to earn profits by providing liquidity. Users can add their cryptocurrencies to liquidity pools and earn a share of the transaction fees from these pools. Furthermore, the service offers the ability to swap between different cryptocurrency trading pairs. Users can choose suitable trading pairs according to their preferences and investment strategies. Binance Liquid Swap has a user-friendly interface that allows users to easily trade.
