Binance, a popular cryptocurrency exchange, recently disclosed its decision to remove several major liquidity pools from its Binance Liquid Swap platform. The move, which is scheduled to take effect by December 6, will eliminate essential pools such as Polygon (MATIC). Solana (SUN)Tron (TRX), Shiba Inu (SHIB), Bitcoin Cash (BCH), Avalanche (AVAX)and Polkadot (DOT).
The Binance Liquid Swap feature allows users to participate as liquidity providers within the pool and earn trading fees and BNB rewards while engaging in seamless cryptocurrency token swaps. These changes mark a strategic shift in Binance Full Services focused on optimizing liquidity and trading experience for users.
Here’s what was announced on November 29th: imminent disruption It has a significant liquidity pool. Among those being removed include AVAX/USDT, BCH/BNB, BCH/USDT, DOT/BNB, MATIC/BTC, SHIB/DOGE, SOL/BNB, TRX/USDT, and USDC/USDT.
Start from Starting December 4, 04:00 UTC, users will no longer be able to add liquidity. Go to the swimming pool mentioned above. Additionally, individuals holding positions in this pool will automatically receive their cryptocurrency assets deposited into their spot wallets by December 6th.
User Influence and Binance’s Strategy
Binance has emphasized periodic reviews of its listed liquidity pools with the goal of consolidating liquidity, reducing slippage, and providing better trading prices. This strategic evaluation ensures an improved trading experience for platform users.
Before, Binance Major liquidity pools including Bitcoin (BTC), Ethereum (ETH), BNB, Cardano (ADA), Polygon (MATIC), Solana (SOL), Shiba Inu (SHIB), and Dogecoin (DOGE) were removed. We will stop supporting the BUSD stablecoin by February 2024.
Last October, the exchange also delisted XRP, Phantom (FTM), Optimism (OP), Decentraland (MANA), and 10 other liquidity pools, indicating a repeating pattern in Binance’s liquidity management strategy.