Binance Liquid Swap Announces the Addition of SHIB/DOGE Liquid Pool and Six Additional Assets
Binance – a global cryptocurrency exchange offering innovative financial services – has announced the expansion of its services with the addition of the SHIB/DOGE Liquid Pool and six other trading assets to its Liquid Swap. Binance Liquid Swap is a platform feature that creates a more cost-effective and seamless experience for trading various cryptocurrency pairs.
The new SHIB/DOGE Liquid Pool aims to increase liquidity and minimize price slippage between these two popular meme-based cryptocurrencies, Shiba Inu (SHIB) and Dogecoin (DOGE). With this addition, users can now participate in liquidity provision, enjoy lower fees, and earn attractive interests on their idle digital assets.
Besides SHIB/DOGE, Binance also added the following six new assets to its Liquid Swap marketplace: AAVE, ALICE, CHZ, MBOX, SUPER, DEFI. These tokens cover various domains from decentralized finance (DeFi) to non-fungible tokens (NFTs) and gaming, providing a wider range of crypto assets for users to trade, invest and earn on the Binance platform.
In the following sections, we will dive deeper into the Liquid Swap, the SHIB/DOGE Liquid Pool, and the newly added assets.
Binance Liquid Swap: An Overview
Launched in 2020, Binance Liquid Swap is a centralized automated market maker (AMM) pool that provides liquidity for numerous trading pairs. It allows users to exchange digital assets instantly and conveniently, while also offering the opportunity to earn interest by supplying liquidity to the pools.
In comparison to traditional order book-based trading, Liquid Swap offers lower trading fees, minimal price slippage, and a better user experience. It achieves this by utilizing smart contracts and price algorithms, ensuring a consistent and reliable system.
SHIB/DOGE Liquid Pool
Shiba Inu (SHIB) and Dogecoin (DOGE) are two popular cryptocurrencies that have gained immense traction and support from crypto enthusiasts and investors around the world. Their ease of use, low transaction fees, and meme-inspired appeal have contributed to their popularity among the masses.
With the addition of the SHIB/DOGE Liquid Pool, users can enjoy the benefits of an AMM for this trading pair. This pool reduces the chance of experiencing price slippage when executing trades and offers traders a more efficient platform to swap these two cryptocurrencies. Furthermore, users can provide liquidity for the SHIB/DOGE pair and earn interest on their holdings.
Six New Trading Assets on Binance Liquid Swap
1. AAVE: Developed by the Aave team, AAVE is a decentralized, open-source, and non-custodial liquidity protocol. It enables users to earn interest on their deposits and borrow assets with ease. AAVE is the native governance token of the platform and can be staked to participate in protocol governance and earn additional rewards.
2. ALICE: My Neighbor Alice (ALICE) is a multiplayer blockchain-based game that allows players to create and interact with a virtual world. ALICE is the platform’s native token, used for in-game transactions and rewarding users in the game’s decentralized financial ecosystem.
3. CHZ: Chiliz (CHZ) is the native currency of the popular sports and entertainment platform Socios.com. It allows fans to purchase Fan Tokens, which give them voting rights and access to various benefits related to their favorite sports teams and entertainment entities. CHZ can also be traded on various exchanges and used for staking and governance purposes.
4. MBOX: MBOX is the governance and utility token of MOBOX, a platform that combines gaming with DeFi and NFT elements. MOBOX allows users to earn rewards through gaming and create, own, and trade unique NFTs. MBOX can also be traded on various exchanges and used for staking and governance purposes.
5. SUPER: SuperFarm (SUPER) is a cross-chain DeFi protocol that introduces NFT farming (yield farming with NFTs) to the world of DeFi. SUPER is the platform’s utility token and can be traded on various exchanges, as well as used for staking, governance, and accessing exclusive NFT drops.
6. DEFI: DeFi Chain (DEFI) is a blockchain platform built specifically for decentralized finance operations. It focuses on providing a robust and secure environment for DeFi users. DEFI is the native token of the platform and can be used for transactions, staking, and governance within the DeFi Chain ecosystem.
In Conclusion
The addition of the SHIB/DOGE Liquid Pool and six new assets to Binance Liquid Swap demonstrates the platform’s commitment to providing a simple, cost-efficient, and versatile environment for trading digital assets. As the global cryptocurrency market continues to expand and evolve, Binance is steadfast in its goal to offer users cutting-edge tools, features, and services to help them navigate the ever-changing world of digital finance.
