Binance, one of the global leading cryptocurrency exchanges, has come up with the new DeFi styled product, which will have different liquidity pools to enable users to earn income easily and instantly.
The new product is Binance Liquid Swap– a centralized automated market maker (AMM) pool most alike Uniswap (decentralized exchange (DEX)) which allows users to buy, trade, stake, and hold crypto.
The instant token swap functionality provided by Binance’s Liquid Swap is not via its decentralized platform (DEX). Rather, it’s a first of its kind product on the centralized platform while entering into the DeFi movement which provides instant token swap functionality, and users can earn interest and income via trading fees.
According to Binance, the tweak has come to provide more stable prices and lower fees, unlike the traditional market and order book model which uses fix algorithms to create liquidity while trading or swapping. However, it is yet to be revealed the trading fee and the reward system.
To start, the exchange is offering three trading pairs on the AMM pool platform: USDT/BUSD, BUSD/DAI, and USDT/DAI giving Binance USD a superiority.
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The crypto exchange believes that DeFi products work better when more users provide liquidity while trading, and in turn gets rewards in the form of fees. So, using Binance’s existing platform, users from the same account can easily leverage DeFi opportunities in just a few clicks with complete security and low fees due to the company’s expertise in managing the world’s leading exchange for a long time.
The blog reads: “As the first DeFi product to be within easy reach of a multitude of crypto activities, like spot, margin, and futures trading, as well as savings, staking, P2P, and more, we offer you the easiest way to move your holdings to whichever option works best for you, all in a few clicks.”
Also Read: BNB News: Binance Coin Upsurges To Twenty USD, CEO Hints Binance DeFi IEO
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