Binance to Remove Liquidity Pools: ADA, APE, AVAX, DOT and More

Binance, one of the world's premier cryptocurrency exchanges, has announced the removal of a significant number of liquidity pools from its Liquid Swap platform. This decision stems from Binance's periodic review aimed at refining the trading experience for its users by concentrating liquidity. Traders should closely monitor these tokens, as the removal of token trading pairs may influence their prices.

The liquidity pools slated for removal on September 1, 2023, at 04:00 (UTC) include: ADA/BNB, ALICE/BTC, APE/BTC, AVA/USDT, AVAX/BNB, BTC/TUSD, CHZ/BNB, CHZ/BTC, CTSI/BNB, DOT/BUSD, ENJ/USDT, FIL/BNB, FRONT/BUSD, GALA/BNB, ICP/BNB, ID/BTC, KDA/USDT, LIT/USDT, MATIC/BNB, NEO/BNB, PAXG/USDT, PEPE/USDT, SANTOS/USDT, SUSHI/BNB, SUSHI/BTC, SXP/BNB, SXP/BTC, THETA/BNB, THETA/BTC, TKO/USDT, TLM/USDT, TRX/BNB, TRX/ETH, WBTC/ETH, XMR/ETH, XMR/USDT, XVS/BTC, XVS/USDT, and ZEN/USDT.

Users with positions in these liquidity pools will automatically have their deposited assets returned to their Spot wallets at the aforementioned date and time.

It's crucial for users to understand that the removal of these liquidity pools won't affect the trading of the corresponding pairs on Binance Spot. Starting from August 28, 2023, at 06:00 (UTC), the platform will cease accepting liquidity additions to these pools. However, users have the option to redeem their assets from these pools before the removal date. After September 1, deposits in these liquidity pools will be determined based on the prevailing composition ratios of each pool and will be automatically redeemed to users' Spot wallets.

Binance has also emphasized that Liquid Swap positions might undergo changes in composition ratios due to the inherent nature of liquidity pools. For a deeper understanding, users are directed to the platform's FAQ section.

The announcement was officially made on August 28, 2023, by the Binance Team.

Image source: Shutterstock