Binance, the world’s leading cryptocurrency exchange, today announced several changes to its platform, including the delisting of selected trading pairs, additions to credit offerings, and Lisk contract exchange support. Here’s a breakdown of the major updates:
Binance will delist these 3 spot trading pairs
In an effort to maintain a high-quality trading experience, Binance will delist three spot trading pairs: CFX/TUSD, CHESS/BTC, and ORDI/TUSD. The delistings will take effect on May 17, 2024, at 06:00 AM UTC. This decision is based on factors such as low liquidity and trading volume, ensuring users have access to more actively traded pairs.
It’s important to note that the delisting only affects these specific trading pairs, not the underlying tokens. Users can still hold and trade CFX, CHESS, ORDI, TUSD, and BTC on other available pairs on Binance Spot. Additionally, Binance will stop Spot Trading Bot services for these delisted pairs and encourage users to update or cancel their bots before the deadline to avoid potential losses.
Expanded lending options
The exchange is providing more opportunities for users to leverage their crypto holdings through its lending products. Binance Loans (Flexible Rate) and VIP Loans have seen an increase in the number of borrowable assets. Flexible Rate Loan users can now borrow Adventure Gold (AGLD), Highstreet (HIGH), ssv.network (SSV), and Theta Network (THETA). VIP Loan users can access dogwifhat (WIF), ether.fi (ETHFI), Pepe (PEPE), and Renzo (REZ) as additional collateral options.
Binance to Facilitate Lisk Contract Swap
Binance will facilitate a contract swap for Lisk (LSK) tokens. This means that all deposits and withdrawals of old LSK tokens will be suspended starting May 21, 2024, at 05:00 AM UTC. Users are advised to complete any necessary LSK deposits or withdrawals before the deadline to avoid any disruptions.
The good news is that spot trading, margin trading, futures trading, and Binance Earn services will not be affected during the contract swap. The exchange will handle all technical aspects for users holding LSK tokens. The swap ratio is 1 old LSK to 1 new LSK. After the swap is complete, deposits and withdrawals of old LSK tokens will no longer be supported. Binance will announce when deposits and withdrawals for new LSK tokens will reopen after the process is complete.
USDC integration on Base Network
Finally, the exchange has completed the integration of USD Coin (USDC) on the Base network. This means that users can now deposit USDC tokens to their Binance accounts using the Base network. The token deposit address can be found on the Binance platform. Withdrawals for USDC on the Base network will be opened when sufficient liquidity is available.
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