Binance Revamps Platform: Delistings, Lending Expansion, Lisk Contract Swap, USDC on Base

Binance, the world's leading cryptocurrency exchange, has unveiled several platform updates to enhance user experience. Notable changes include the delisting of three spot trading pairs (CFX/TUSD, CHESS/BTC, ORDI/TUSD) to ensure trading quality. Additionally, expanded lending options allow users to leverage more crypto assets, and Lisk contract swap support facilitates the transition to new LSK tokens. Binance also announces USDC integration on the Base network, enabling efficient deposits through this channel. These updates underscore Binance's ongoing commitment to innovation and user convenience.

Binance Announces Platform Updates: Delistings, Lending Expansion, Lisk Contract Swap, and USDC Integration

Binance, the preeminent cryptocurrency exchange worldwide, has disclosed a series of significant modifications to its platform, encompassing the delisting of certain trading pairs, the expansion of lending offerings, the facilitation of a Lisk contract swap, and the integration of USDC on the Base network.

Delisting of Trading Pairs

In line with its commitment to maintaining an optimal trading experience, Binance has resolved to delist three spot trading pairs: CFX/TUSD, CHESS/BTC, and ORDI/TUSD. The delisting will become effective on May 17, 2024, at 06:00 AM UTC.

This decision was influenced by factors such as low liquidity and trading volume. Binance prioritizes providing users with access to a diverse range of actively traded pairs, ensuring the availability of ample trading opportunities.

It is crucial to emphasize that the delisting solely affects the specified trading pairs and not the underlying tokens. Users retain the ability to hold and trade CFX, CHESS, ORDI, TUSD, and BTC on other available pairs on Binance Spot. Furthermore, Binance will discontinue Spot Trading Bot services for these delisted pairs. Users are strongly encouraged to update or cancel their bots prior to the deadline to avoid potential losses.

Enhanced Lending Options

Binance is expanding its lending products, providing users with increased opportunities to leverage their crypto holdings. Binance Loans (Flexible Rate) and VIP Loans have welcomed additional borrowable assets. Flexible Rate Loan users can now borrow Adventure Gold (AGLD), Highstreet (HIGH), ssv.network (SSV), and Theta Network (THETA). VIP Loan users gain access to dogwifhat (WIF), ether.fi (ETHFI), Pepe (PEPE), and Renzo (REZ) as additional collateral options.

Lisk Contract Swap Facilitation

Binance will facilitate a contract swap for Lisk (LSK) tokens. Consequently, all deposits and withdrawals of old LSK tokens will be suspended starting May 21, 2024, at 05:00 AM UTC. Users are advised to complete any necessary LSK deposits or withdrawals before the deadline to prevent any disruptions.

Reassuringly, spot trading, margin trading, futures trading, and Binance Earn services will remain unaffected during the contract swap. Binance will meticulously handle all technical aspects for users holding LSK tokens. The swap ratio is established as 1 old LSK to 1 new LSK. Once the swap is complete, deposits and withdrawals of old LSK tokens will no longer be supported. Binance will promptly announce the resumption of deposits and withdrawals for new LSK tokens upon completion of the process.

USDC Integration on Base Network

Binance has successfully integrated USD Coin (USDC) on the Base network. This integration allows users to deposit USDC tokens to their Binance accounts utilizing the Base network. The token deposit address is readily available on the Binance platform. Withdrawals for USDC on the Base network will be enabled once sufficient liquidity is attained.

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