Binance cryptocurrency exchange has announced that it will remove some liquidity pools. This process, which is to be completed by December 6th, will see the removal of liquidity pools for leading cryptocurrencies such as Solana, MATIC, Avalanche, Shiba Inu, and Bitcoin Cash.
In an official statement made on November 29th, Binance detailed its plan to remove certain liquidity pools from Binance Liquid Swap. It highlighted that significant liquidity pools like BCH/BNB, SOL/BNB, AVAX/USDT, DOT/BNB, BCH/USDT, MATIC/BTC, SHIB/DOGE, TRX/USDT, and USDC/USDT would be removed.
Starting from 07:00 Turkish time on December 4th, users will not be able to add liquidity to the mentioned pools, and those holding positions in these liquidity pools will have their crypto assets automatically transferred to their spot wallets on December 6th.
Binance stated that the purpose of this move is to regularly review the listed liquidity pools to concentrate liquidity and offer users better transaction prices. This step is said to specifically aim at providing an optimized trading experience in the cryptocurrency exchange.
The announcement clarified that the removal of these liquidity pools would not affect the trading of the related pairs in Binance spot transactions. Moreover, despite news from the Philippines and Thailand suggesting significant challenges, Binance cryptocurrency exchange continues its efforts to maintain the highest level of customer experience, providing uninterrupted service. Binance CEO Richard Teng emphasized that product development at Binance is based on five fundamental principles: simplicity, trust, transparency, innovation, and most importantly, community.