Binance Adds Pendle (PENDLE) to its Innovation Zone, Expanding Trading Options

Binance Adds Pendle (PENDLE) to its Innovation Zone, Expanding Trading Options

Altcoin news, News

Binance, a leading cryptocurrency exchange, has announced the inclusion of Pendle (PENDLE) in its Innovation Zone, providing users with access to the revolutionary yield-trading protocol.

#Binance will list @pendle_fi $PENDLE in the Innovation Zone.

➡️ https://t.co/5eOUmqPfLO pic.twitter.com/uPF7ziB3ls

— Binance (@binance) July 3, 2023

Pendle is a groundbreaking protocol that allows users to separate yield-bearing assets into principal and yield components, offering fixed or flexible yield opportunities. Traders can now explore the innovative protocol and its utility token, PENDLE, on the Binance platform.

The listing will open trading for three spot trading pairs: PENDLE/BTC, PENDLE/USDT, and PENDLE/TUSD. Users can begin depositing PENDLE in preparation for trading, with withdrawals becoming available at a later date. Notably, Binance has waived the listing fee for PENDLE. Furthermore, traders will enjoy zero maker fees on the PENDLE/TUSD trading pair until further notice.

In an effort to expand margin trading options, Binance plans to add PENDLE as a new borrowable asset on Isolated Margin within 48 hours. The PENDLE/USDT margin pair will be introduced. Traders can refer to the Margin Data for a comprehensive list of marginable assets and detailed information on limits and rates.

Pendle (PENDLE) offers a unique approach to yield trading by separating yield-bearing assets into principal and yield components. This allows users to earn fixed or flexible yields, providing new avenues for maximizing returns on investments. PENDLE serves as the utility token within the Pendle ecosystem, facilitating liquidity incentives, governance participation, and fee value accrual.

It is important to note that the Innovation Zone on Binance is specifically designed for trading new and innovative tokens, which may exhibit higher volatility and pose greater risks compared to other tokens. Traders must read and accept the Binance Terms of Use and complete a questionnaire before accessing the Innovation Zone. Proper risk management and thorough research on PENDLE’s fundamentals are crucial due to its relatively new status and potential price volatility.

With the addition of Pendle (PENDLE) to its platform, Binance continues to expand its offerings and provide opportunities for traders to explore innovative projects. This move reinforces Binance’s commitment to supporting the growth of the cryptocurrency ecosystem.

Compiled by Coinbold

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