Leading cryptocurrency exchange Binance has announced the addition of Pendle (PENDLE) to its Innovation Zone.
Pendle is a revolutionary yield-trading protocol that enables users to separate yield-bearing assets into principal and yield components, providing opportunities for fixed or flexible yields. Traders can now explore this 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 start depositing PENDLE in preparation for trading, with withdrawals set to open at a later date. Notably, Binance has waived the listing fee for PENDLE. Additionally, traders will enjoy zero maker fees on the PENDLE/TUSD trading pair until further notice.
In a move to expand margin trading options, Binance plans to add PENDLE as a new borrowable asset on Isolated Margin within 48 hours. The new margin pair will be PENDLE/USDT. 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, opening up new avenues for maximizing returns on investments. PENDLE serves as the utility token within the Pendle ecosystem, enabling liquidity incentives, governance participation, and fee value accrual.
As a reminder, the Innovation Zone on Binance is designed for trading new and innovative tokens that may exhibit higher volatility and pose higher risks compared to other tokens. Traders must read and accept the Binance Terms of Use and complete a questionnaire before accessing the Innovation Zone. It is crucial to exercise proper risk management and conduct thorough research on PENDLE’s fundamentals before engaging in trading due to its relatively new status and potential price volatility.
Binance continues to expand its offerings and provide opportunities for traders to explore innovative projects. The addition of Pendle (PENDLE) to the platform reinforces Binance’s commitment to supporting the growth of the cryptocurrency ecosystem.
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