In a recent announcement, Binance Liquid Swap noted that certain liquidity pools would be removed from the platform on January 5, 2024. To improve users' trading experience, Binance Liquid Swap is currently conducting regular audits of its listed liquidity pools.
This rating aims to streamline liquidity, minimize slippage, and deliver cheaper transaction prices for users. Therefore, the crypto exchange is ready to delist liquidity pools related to Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), Shiba Inu (SHIB), and XRP.
List of liquidity pools to be removed from Binance Liquid Swap
According to the latest announcement, the following Binance liquidity pools are scheduled to be removed on January 5, 2024 at 04:00 UTC:
- ADA/BTC
- BNB/USDT
- BTC/USDT
- DOGE/BTC
- DOGE/USDT
- ETH/USDT
- LINK/BTC
- SHIB/USDT
- USDT/DAI
- XRP/USDT
It is important to note that users with positions in these pools will automatically receive their deposited assets in their spot wallets on January 5, 2024 at 04:00 UTC. Additionally, Binance noted that these liquidity pools will not impact trading of corresponding pairs on Binance Spot.
Users also have the option to redeem their assets from these pools before January 5, 2024 at 04:00 UTC. If someone does not redeem their deposits before this date, they will be automatically redeemed based on the prevailing composition ratios in users' spot wallets. However, starting January 1, 2024 at 04:00 UTC, traders would no longer be able to add liquidity to the above pools.
Also Read: Binance User Base Grows 30% in 2023 Due to Regulatory Challenges
Delisting GBP spot trading pairs
As Coingape previously reported, Binance had recently announced the delisting of various cryptocurrency trading pairs in GBP on Binance Spot. The delisting plan included major pairs such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Binance Coin (BNB), XRP, Cardano (ADA), Polygon (MATIC), Chainlink (LINK), Dogecoin (DOGE) . and Litecoin (LTC). The delisting became effective on December 29, 2023.
Previously, in October 2023, the crypto trading platform in the United Kingdom stopped accepting new customers to comply with new FCA regulations that restrict international digital asset promotions in the country. Afterwards, users trading through GBP experienced issues with withdrawals and deposits after the exchange terminated its operating agreement with its banking partner in the UK. Therefore, it had to delist the spot trading pairs to ease the challenges for its users.
Also Read: Binance Relists SOL, XRP, ADA, MATIC and Other Top Cryptocurrencies on USDC Pairs
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