Upbit, a prominent cryptocurrency exchange, has announced the listing of Pendle (PENDLE) for trading. Pendle will be available in Korean Won (KRW) and Bitcoin (BTC) markets. This new addition will be traded on the Ethereum network, with Upbit introducing a temporary low-fee policy for Ethereum-based transactions.
New Trading Options
Pendle (PENDLE) can now be traded against KRW and BTC on Upbit. Transactions will be processed on the Ethereum network, with all necessary preparations slated for completion within two hours post-launch. To ensure smooth operations, Upbit has advised users to confirm they are using the correct network, as transactions outside the Ethereum network are unsupported.
Transaction Limitations and Fees
Upbit has established specific conditions for Pendle transactions to safeguard users. For the initial five minutes, there will be caps on buy orders, sell orders set 10% below the last closing price, and market and reserve orders. These measures aim to help newcomers navigate the cryptocurrency market cautiously. Additionally, Pendle withdrawals will be free for the first 24 hours of trading, after which standard fees will apply.
Key Takeaways for Users
- Pendle is listed on Upbit in KRW and BTC markets.
- All transactions will be conducted via the Ethereum network, requiring users to use the correct network.
- Initial transaction limitations are in place to mitigate risks for new users.
- Withdrawals are free for the first 24 hours, offering a cost-saving opportunity.
In summary, Upbit’s listing of Pendle (PENDLE) introduces a new asset to its trading platform with considerations for user protection and cost efficiency. Users are encouraged to be mindful of the specified network and the initial transaction restrictions to optimize their trading experience.