By
Temitope Olatunji
April 19th, 2024
The listing of Sushi and DFI.Money by Binance is an indication that the two platforms have gained community confidence as capable of generating enough volumes to make their listings worthwhile.
Binance recently announced that Sushi (SUSHI) and DFI.Money (YFII) had been listed on its platform as the exchange continues to expand its tradable assets.
In a release published on the official web site on September 2, the company stated that several pairs of the two assets were made available for trading on September 1, 11 AM UTC.
Consequently, investors can now deposit the assets and trade them with BTC, BUSD, USDT and BNB. This means that the available pairs are:
“SUSHI/BNB, SUSHI/BTC, SUSHI/BUSD, SUSHI/USDT, YFII/BNB, YFII/BTC, YFII/BUSD and YFII/USDT” according to the blog post announcing the listing.
The statement further advised investors to analyze the tokens and conduct proper risk management regarding them.
“ Please ensure that you undertake sufficient risk assessment when trading newly listed tokens, as they are often subject to high price volatility.”
SUSHI and DFI.Money on Binance
SushiSwap is the decentralized finance (DeFi) platform that aims to encourage liquidity as an improvement of Uniswap. The platform rewards staking by rewarding liquidity providers with SUSHI tokens. Its liquidity pool distributes 0.25% of generated trading fees among shakers in the pools. 0.05% of the funds generated are converted back to SUSHI. Holders of the token that participate in the Liquidity pool hold voting rights on the network. This would make participants active contributors in shaping the future of the Sushiswap platform.
As a decentralized finance platform, DFI.Money (YFII) aims to build products that enable the provision of aggregated liquidity automated marketing and leveraged trading. It is a fork of yearn.finance (YFI) which proposed an extension of minting of its native token by 3 months in its Improvement Proposal #8. The rejection of the proposal led to the forking of YFII.
The listing by Binance is an indication that the two platforms have gained community confidence as capable of generating enough volumes to make their listings worthwhile.
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