[ad_1]
The Binance Liquid Swap platform is an automated market maker (AMM) pool product and hosts different pools of liquidity that allow its users to exchange crypto assets.
Major cryptocurrency exchange Binance has bolstered its presence in the decentralized finance world with the launch of Binance Liquid Swap. The Binance Liquid Swap product is a token swapping liquidity platform, offering an improved exchange model to foster more earnings from users.
Through Binance Liquid Swap, users can pool their tokens to provide the liquidity for which they can earn rewards as well as cut in on transaction fees. The product offering will be the first of its kind among the core centralized cryptocurrency exchanges to date and it is targeted at existing swapping platforms including Uniswap, with the potential of creating the necessary competition.
About New Binance Liquid Swap Trading Platform
The Liquid Swap trading platform is aimed at helping Binance’s existing account holders reap the benefits of DeFi services. Besides the promise to offer instant liquidity, the platform also comes with low fees.
The Binance Liquid Swap platform is an automated market maker (AMM) pool product and hosts different pools of liquidity that allow its users to exchange crypto assets.
According to the official announcement, when you place your crypto funds into the liquidity pools on Binance Liquid Swap, you get to harness the power of an AMM pricing module. This can give you stable prices and lower fees for both small and large transactions, which are done via instant swaps.
Currently, the Binance Liquid Swap platform offers three digital currency pairs or tokens including, USDT/BUSD, BUSD/DAI, and USDT/DAI. As detailed, the transaction fees and prices are determined by the total amount of assets in the pool.
Binance CEO Changpeng Zhao stated that the new products aimed to attract more volume and participants:
“We hope to further the growth of the DeFi marketplace and empower our users with more earning power and easier liquidity through a centralized AMM pool with the credibility, safety, and security provided by Binance.”
Binance Is Aggressive with Its DeFi Drive
Binance’s drive in the decentralized finance ecosystem has picked a faster pace in the past weeks. Besides the launching of a DeFi/USDT index by Binance Futures, the exchange also launched the Binance Smart Chain to promote interoperability and programmability with the Binance Chain while also enabling smart contracts on the platform. The Binance Smart Chain is also compatible with the Ethereum Virtual Machine (EVM).
Binance-owned WazirX, a top crypto exchange in India has also made futuristic leaps into the DeFi world with the launching of a DeFi protocol on the Matic Network. Since the CEO, Changpeng Zhao declared his admiration for decentralized finance and its revolutionary potentials, Binance’s growth model has been restructured to tag along with this trend.
With the new product offerings being integrated into the existing Binance’s platform and products, users are generally expected to embrace the Binance Liquid Swap trading platform.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
[ad_2]
Source link
