Over 100% Growth is Sparked by Binance Listing for the Liquity Token

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By Degen Lipsa

After Binance launched liqiduity support for LQTY- Liquity’s native protocol token on tuesday and it almost rose upto 108.36% after a listing that was announced on Binance.

Binance listed LQTY in the innovation zone and opened spot trading support from 11:00 UTC on Feb. 28 and withdrawals started to take place from March 1st. Binance said LQTY will now be a borrowable asset in the isolated margin account. Before spot trading operations began at 11:00, users could deposit their LQTY onto Binance (UTC).

Binance said that it will first introduce support for the trading pairings LQTY/BTC and LQTY/USDT.

LQTY will be available in the Innovation Zone on Binance in two trading pairs: LQTY/BTC and LQTY/USDT. Essentially, users may obtain 0% interest loans using Ether as security because of the decentralised borrowing protocol. LUSD, a stablecoin tied to the US dollar, is used to settle loans and has a minimal collateral requirement of only 110%.

The total value locked (TVL) in the protocol is currently above $600 million, according to the most recent statistics in DefiLlama. Even though it has dropped significantly from its peak of $4.52 billion during the bull run in 2021, the TVL statistic has increased by 50% since the year’s start.

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