Binance Liquid Swap, a centralized automated market maker (AMM) platform, will remove 39 liquidity pools on September 1, including some popular coins and tokens such as Cardano (ADA), Polygon (MATIC), Bitcoin (BTC), and the meme-based token Pepe.
The announcement was made by Binance on August 28, stating that the removal was a periodic review to optimize the trading experience and liquidity for its users. Users will not be able to add liquidity to the affected pools starting from August 30 and will receive their deposited assets back to their wallets on September 1.
Some of the major pairs that will be removed are ADA/BNB, MATIC/BNB, BTC/TUSD, DOT/BUSD, TRX/ETH, and PEPE/USDT. The full list of the removed pools can be found on Binance’s website.
Crypto Market and Community Have Yet to React to the News
Binance Liquid Swap is a service that allows users to swap tokens and provide liquidity to earn interest and fees. It is similar to decentralized AMM platforms such as Uniswap and SushiSwap but with lower fees and faster transactions.
However, Binance Liquid Swap has also faced some challenges recently, as Binance has been under regulatory scrutiny in several countries. The exchange has been accused of offering illegal services and products, such as derivatives and stock tokens, without proper authorization.
Binance has also terminated its zero-fee trading for the BTC/TUSD pair, which may affect its trading volume and liquidity. The removal of 39 liquidity pools may also have an impact on the prices and demand of the affected coins and tokens.
Some of them, such as ADA and MATIC, have been performing well in the market, while others, such as PEPE, have been losing value. Remains to be seen how the users and the market will react to this decision by Binance.
It is important to note that the removal of certain pools from Binance’s platform may seem surprising, but it is a common practice in the industry for platforms to periodically reassess and optimize their offerings.
It is important to note that even though certain pools have been removed from Binance’s platform, the affected tokens can still be traded on Binance’s main spot market. This decision is in accordance with standard industry practices.