Cryptocurrency exchange Binance has taken significant measures to safeguard its consumers and improve the market. The introduction of Seed Tags and Monitoring Tags has recently solved the issues associated with excessively volatile coins.
High-risk tokens like as Akropolis (AKRO), AirDAO (AMB), Cream Finance (CREAM), FTX Token (FTT), and Ark (ARK) will be subject to the Monitoring Tag instead of the present Innovation Zone.
Users of the Binance Spot and Binance Margin platforms will need to pass a new puzzle-solving exercise every three months in order to trade tokens with these labels. The interactive puzzles are intended to educate users on the potential risks involved with these tokens, in addition to demanding acceptance of the updated Terms of Service.
Binance has added the stablecoin First Digital USD (FDUSD) to its trading pairs, including new ones like as BNB/FDUSD, FDUSD/USDT, and FDUSD/BUSD. Withdrawals in FDUSD will be accessible starting at 8 a.m. UTC today, while deposits have been open since yesterday.
All Binance customers may take advantage of the zero-maker fee for FDUSD trading pairs for the duration of the programme. The objective is that more people would utilise stablecoins, which give some certainty in the otherwise turbulent cryptocurrency market.
Binance had already made headlines for successfully integrating the Bitcoin Lightning Network, letting customers to employ the Layer-2 scalability solution for BTC deposits and withdrawals. This groundbreaking step came after the site briefly suspended BTC withdrawals as it prepared to launch the much-anticipated BTC Lightning Network.
Binance has taken these steps to reiterate its commitment to user protection and a secure trading environment. The exchange’s mission is to increase investor confidence and promote wider adoption of cryptocurrencies by providing traders with detailed information about token risks and supplying stablecoins such as FDUSD.
Binance continues to set the standard for cryptocurrency exchange innovation, transforming the industry.
