Binance Liquid Swap Delists SHIB, DOGE, SOL Pairs: Here’s Why

• Binance removes 17 pairs from liquid swapping service.
• Affected liquidity pool assets are to be converted into Spot.
• The crypto giant moves away from Binance USD (BUSD).

Binance, the largest cryptocurrency exchange globally, announced today the removal of several liquidity pools on the platform’s Liquid Swap. The official message states that starting October 27, 2023, all liquidity pool positions will be terminated, returning the funds to the customer’s Spot wallet.

Liquid Swap lets users earn extra income by providing liquidity in various pairs. The users can easily collect rewards in BNB (BNB), swap between cryptos, and remove the added liquidity at any time they want. So far, most of these opportunities have come alongside Binance USD (BUSD), the discontinued stablecoin from which Binance’s team is distancing themselves.

The world’s largest crypto exchange Binance on Friday said it is removing selected liquidity pools on #Binance Liquid Swap. The crypto exchange is taking down some major liquidity pools including #BTC,#Eth ,#BNB, #ADA,#MATIC,#SOL,#SHIB,#DOGE 👀👀👀

— Pip_Hunter (@Aivarelis88) October 20, 2023

What Pairs Are Removed from Liquid Swap?

Binance’s executive team occasionally reviews the active crypto liquidity pools to reduce possible slippage and more efficiently concentrate liquidity. According to the latest announcement, the following swapping pairs are no longer available:

• ADA/BUSD, BNB/BUSD, BTC/BUSD, BUSD/DAI, BUSD/USDT, DOGE/BUSD, ETH/BUSD, FIL/BUSD, GMT/BUSD, HOOK/BUSD, LINK/BUSD, LTC/BUSD, MATIC/BUSD, POND/BUSD, SHIB/BUSD, SOL/BUSD, UNI/BUSD.

Binance’s customers who have invested funds into the aforementioned pairs have until October 27 to redeem their assets manually. After the deadline, Binance will convert the remaining balances automatically, corresponding to the prevailing composition ratios.

Ultimately, the gargantuan move by Binance to delist 17 liquid swapping pairs comes as a part of a phased effort to distance the crypto behemoth from BUSD, a stablecoin issued by Paxos and banned by the Securities and Exchange Commission (SEC) last year.

Binance Removes ADA, MATIC, SHIB, DOGE, SOL & Other Top Liquidity Pools。
Crypto exchange Binance in an official announcement on October 20 reveals plan to discontinue certain liquidity pools on its Binance Liquid Swap. Binance will remove some key liquidity pools such as… pic.twitter.com/ry0axEMcvL

— OX Lucky (@AdamLiu22599247) October 20, 2023

On The Flipside

• Since last year, Binance’s Liquid Swap tools have been restricted in many European countries as Binance faces regulatory scrutiny and the tightening grip of the Securities and Exchange Commission (SEC).

Why This Matters

Open liquidity pools are an efficient way for traders to earn revenue by providing liquidity to others.

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