Binance, the leading cryptocurrency exchange, has announced the addition of Pendle (PENDLE) to its Innovation Zone. Starting from 2023-07-03 10:00 (UTC), users will be able to trade Pendle with Bitcoin (BTC), Tether (USDT), and TrueUSD (TUSD) on Binance. The exchange has also introduced Pendle as a new borrowable asset on Isolated Margin, with the PENDLE/USDT pair becoming available within 48 hours of the listing.
Pendle is a unique yield-trading protocol that allows users to separate a yield-bearing asset into its principal and yield components. This innovative feature empowers traders to earn fixed or flexible yields. As the utility token of the platform, PENDLE serves multiple purposes, including liquidity incentives, governance, and fee value accrual.
Traders and investors can now deposit PENDLE on Binance in preparation for trading. The withdrawal service for PENDLE will become operational at 2023-07-04 10:00 (UTC). Notably, Binance is waiving the maker fees on the PENDLE/TUSD trading pair until further notice, providing an attractive incentive for users.
It is important to note that the withdrawal open time provided is an estimate and subject to change. Users are advised to check the withdrawal page for real-time updates on the status of their withdrawals.
However, it’s crucial to consider that PENDLE is a relatively new token and may experience higher-than-normal price volatility. Traders are strongly advised to exercise effective risk management strategies, conduct thorough research on PENDLE’s fundamentals, and gain a comprehensive understanding of the project before initiating any trading activities.