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Binance Will List Spell Token (SPELL) and TerraUSD (UST)

Binance, the world’s largest Bitcoin exchange, has added two new altcoins to its platform. On December 24, 2021, at 11:00 a.m. Turkish time, the exchange-listed Spell Token (SPELL) and TerraUSD (UST). With the announcement of the listing, the price of cryptocurrency skyrocketed.

Binance has added two new altcoins to its platform

Binance Will List Spell Token (SPELL) and TerraUSD (UST)

Image Source: Binance

Binance, the largest Bitcoin exchange in the world, has announced the addition of two new altcoins to its platform. Spell Token (SPELL) and TerraUSD will launch at 11:00 a.m. Turkish time (UST). The price of cryptocurrencies surged after the announcement of the listing.

A well-known Bitcoin exchange Binance has added two new cryptocurrencies to its platform. On the subject, the stock exchange issued the following statement:

On December 21, 2021, Binance will launch Spell Token (SPELL) and TerraUSD (UST) and begin trading for the trading pairs SPELL/BTC, SPELL/BUSD, SPELL/USDT, UST/BTC, UST/BUSD, and UST/USDT. In order to prepare for trading, users can now begin depositing SPELL and UST. SPELL and UST withdrawals will begin on December 25, 2021. Binance will only accept deposits and withdrawals for SPELL Avalanche C-Chain and ERC-20 tokens.

The time it takes for a withdrawal to be open is an estimate for users’ convenience. On the withdrawal page, users may check the current status. Fee for SPELL and UST Listing: 0 BNB. Cryptocurrency trading has a high level of market risk. Please be cautious with your dealings. Binance would like to remind you that it is not liable for any trading losses. Thank you so much for your help!

The Spell Token protocol is a multi-chain lending system. SPELL is the protocol’s management token, which can be staked to collect revenue. Abracadabra. money is governed by the Spell Token (SPELL), a platform that allows users to deposit collateral in the form of interest-bearing crypto-assets (such as yvYFI, yvUSDT, yvUSDC, and xSUSHI) in order to manufacture MIM, a stablecoin that aims to maintain a value of $1.00.

Because the Abracadabra protocol is genuinely decentralized, the number of Spell Tokens you own determines how much influence you have over features like liquidation costs, collateral, and the overall value locked (TVL).

Users get a percentage of trading fees from the platform when they stake Spell Tokens. These costs are mostly made up of interest generated by users who borrow MIM. 75 percent of the fee goes to token holders; 20percentgoes to the government treasury, which assists liquidity pools; and the remaining 5percent goes to a multisig treasury, which helps limit risks when market conditions deteriorate.

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Also read: Why Is Shibarium Important For SHIB Investors?

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