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

Binance pledges to reduce slippage by removing less concentrated liquidity pools.

by . Fact checked by: Ciaran Lawler, Editor: Stefan Trapp
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  • 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.

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.

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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.

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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      This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

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      Tadas Klimasevskis
      Tadas Klimasevskis

      Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.