Stock market giant Binance is digging deeper into products along the lines of DeFi with its latest offering, an automated market maker called Binance Liquid Swap.

Binance Uniswap targets and copies them, launching an AMM liquidity pool that will allow users to provide liquidity by depositing tokens. As the world’s most popular decentralized exchange, Binance Liquid Swap will also allow users to earn interest in addition to lowering the pool’s trading fees.

It is the first AMM aggregator product on a central exchange integrated with the platform, allowing users to collect tokens in their wallets to receive rewards.

AMM will use a rate unit in place of the order book to provide more stable rates and reduce transaction volumes in line with the advertisement. The company is prioritizing liquidity for its own tokens, so the first groups offered at launch will be USDT / BUSD, BUSD / DAI and USDT / DAI.

Profits will be pooled on the basis of the corresponding 7-day annual rate of return (APY), and the return will be transferred to assets in the respective pools. Transaction fees and rates will be determined by the number of assets in the liquidity pools.

Changpeng Zhao, CEO of Binance, said the new products aim to attract more shareholders and shareholders:

“We look forward to boosting the growth of the DeFi market and providing users with more profit opportunities and easier liquidity through the central AMM complex with the reliability, security and reliability that Binance provides.”
Uniswap is currently the world’s most popular token trading protocol and decentralized exchange with liquidity of over $ 1.8 billion, according to the dashboard.

Binance Liquid Swap is the second DeFi investment the company has made in one week. On September 1, the Ethereum exchange targeted the launch of Binance Smart Chain, a new blockchain compatible with Ethereum smart contracts and compatible with the existing Binance chain.

The company said the blockchain is optimized for DeFi with low transaction fees that can be as low as 1 cent. The network is able to create a block every 3 seconds and offers bonus BNB code.

Source: CoinTelegraph