Binance cryptocurrency exchange has announced that it will be removing certain liquidity pools. The pools planned to be removed by December 6 include liquidity pools of leading cryptocurrencies such as Solana, MATIC, Avalanche, Shiba Inu, and Bitcoin Cash.
In an official statement made on November 29, Binance disclosed a plan to discontinue some liquidity pools on Binance Liquid Swap. Significant liquidity pools to be removed include pairs such as BCH/BNB, SOL/BNB, AVAX/USDT, DOT/BNB, BCH/USDT, MATIC/BTC, SHIB/DOGE, TRX/USDT, and USDC/USDT.
Users will not be able to add liquidity to these pools starting from 07:00 Turkish time on December 4. On December 6, the crypto assets of users with positions in these liquidity pools will be automatically transferred to their spot wallets.
Binance stated that it periodically reviews liquidity pools and aims to concentrate liquidity to provide better transaction prices for its users. It was emphasized that this move will offer an optimized trading experience on the cryptocurrency exchange.
The exchange noted that the removal of these liquidity pools will not affect the trading of related pairs in Binance spot transactions. Additionally, Binance CEO Richard Teng highlighted that product development at Binance is based on five key principles which are simplicity, trust, transparency, innovation, and most importantly, community.