- Binance aims to enhance user trading by removing selected liquidity pools for efficiency and competitiveness.
- Liquidity pools removal are set for December 22, 2023, at 04:00 (UTC), prioritizing optimized trading conditions.
- The platform assures users affected by removal can redeem assets, emphasizing continuous service enhancement and user support.
In a recent announcement, Binance Liquid Swap revealed its decision to remove selected liquidity pools in an effort to enhance the trading experience for users. The removal of these liquidity pools is scheduled for December 22, 2023, at 04:00 (UTC). The move comes as part of Binance’s ongoing commitment to optimizing trading conditions, concentrating liquidity, minimizing slippage, and ensuring users benefit from competitive transaction prices.
The removal of liquidity pools impacts various cryptocurrency pairs such as AAVE/BTC, ADA/ETH, ADA/USDT, ARB/BTC, BCH/BTC, DOT/BTC, DOT/USDT, ETH/DAI, FIL/BTC, LINK/ETH, LINK/USDT, LTC/BNB, LTC/BTC, LTC/ETH, LTC/USDT, MANA/BTC, MATIC/USDT, SAND/BTC, SOL/BTC, SOL/USDT, UNI/BNB, UNI/BTC, VET/USDT, XRP/BNB, XRP/BTC, and XRP/ETH.
Users holding positions in the aforementioned liquidity pools will automatically receive their deposited assets in their Spot wallets on December 22, 2023, at 04:00 (UTC). Importantly, the removal of these liquidity pools will not impact the trading of corresponding pairs on Binance Spot where applicable. Users will still have the opportunity to trade on other available liquidity pools within Binance Liquid Swap.
Subsequently, starting from December 18, 2023, at 04:00 (UTC), users will no longer be able to add liquidity to the specified pools. Those with existing positions have the option to redeem their assets from the liquidity pools before the removal date. Following December 22, 2023, at 04:00 (UTC), any remaining deposits in the liquidity pools will be automatically redeemed to users’ Spot wallets based on the prevailing composition ratios of the corresponding pool.
It is essential for users to be aware that the composition ratios of Liquid Swap positions are subject to changes, given the dynamic nature of liquidity pools. For more detailed information, users are encouraged to refer to the provided FAQ.
Binance emphasizes that the removal of these liquidity pools aims to improve overall trading efficiency and user experience on the platform. The decision aligns with the exchange’s dedication to continuous evaluation and enhancement of its services.
Binance’s proactive approach to refining its offerings demonstrates its commitment to maintaining a high standard of service and adaptability in response to market dynamics. Users are urged to stay informed about these changes and take any necessary actions before the specified dates to ensure a seamless transition.
