Binance Removes XRP, FTM, MANA Liquidity Pools
The world’s largest crypto exchange, Binance, has announced the removal of selected liquidity pools on its Binance Liquid Swap. This includes liquidity pools for XRP, Fantom (FTM), Optimism (OP), and Decentraland (MANA).
Binance’s Plan to Discontinue Certain Liquidity Pools
Binance has revealed its plan to discontinue certain liquidity pools on its Binance Liquid Swap in an official announcement. The liquidity pools that will be removed include XRP/BUSD, FTM/BUSD, MANA/BUSD, and OP/BUSD. This move is part of Binance’s strategy to completely end BUSD stablecoin support by February 2024.
Changes to Liquidity Pool Availability
Starting from October 13 at 04:00 UTC, users will no longer be able to add liquidity to the above-mentioned pools. Users who hold positions in these liquidity pools will receive their deposited assets in their spot wallets on October 17. Users also have the option to redeem their assets from these liquidity pools before October 17 at 04:00 UTC.
Reasons Behind the Removal
Binance periodically reviews listed liquidity pools in order to concentrate liquidity, reduce slippage, and provide better transaction prices for users. This ensures an optimized trading experience on the platform.
Hot Take: Binance Removes Selected Liquidity Pools on Binance Liquid Swap
Binance has made the decision to remove certain liquidity pools from its Binance Liquid Swap platform. This includes popular tokens such as XRP, Fantom (FTM), Optimism (OP), and Decentraland (MANA). The removal of these liquidity pools is part of Binance’s plan to discontinue BUSD stablecoin support by February 2024. Users will no longer be able to add liquidity to these pools and are advised to redeem their assets before October 17. Binance regularly reviews its liquidity pools to ensure the best trading experience for its users.
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