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    Home»Business»Crypto»Binance Adds Gov Token, LDO, to Crypto Conversion Platform
    Crypto

    Binance Adds Gov Token, LDO, to Crypto Conversion Platform

    Swave DigestBy Swave DigestMay 14, 2022No Comments4 Mins Read
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    Binance Adds Gov Token, LDO, to Crypto Conversion Platform Binance%20CEO%20Changpeng%20Zhao id f6cec512 1e67 4179 8622 fb1bd152d978 size900
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    Binance, the world’s
    largest cryptocurrency exchange by trading volume, has added LDO, the
    governance token of the Lido decentralized autonomous organization (DAO) to the Binance Convert.

    Binance Adds Gov Token, LDO, to Crypto Conversion Platform

    Binance Convert is a
    service where users can transform the cryptocurrency they hold into another
    cryptocurrency within seconds.

    The service also
    powers the convert function of the Binance app and is the main option for
    buying crypto on the Binance Lite app.

    The exchange, which
    first disclosed its intention to list the token a few days ago, announced the
    addition on Friday on its website.

    Keep Reading

    “Binance is excited to
    announce that LDO has been added to Binance Convert (previously named Convert
    & OTC Portal), with 30 new pairs available,” the exchange wrote on its
    website.

    Users can now trade LDO tokens against Bitcoin (BTC), Binance USD (BUSD), USD Coin (USDC),
    Tether (USDT) and other tokens.

    They can also now check
    for indicative prices on these assets through Binance Convert, the exchange
    said.

    Table of Contents

    • More on LDO
      • Trading Suspension
    • More on LDO
      • Trading Suspension

    More on LDO

    LDO, as the Lido DAO
    governance token, provides governance rights to members of the Lido
    community.

    This means that anybody
    holding LDO can vote in any decision-making process. However, the amount of
    tokens such holders are willing to stake determines their voting power.

    Trading Suspension

    The addition of LDO
    comes on the same day the top cryptocurrency exchange suspended the trading of
    LUNA and UST, Terra’s native token and algorithmic stablecoin, respectively, on
    its platform.

    The suspension follows
    plunges in the cryptocurrency markets. LUNA, for instance, dropped by more than
    99% within the last few days.

    “Binance will suspend
    spot trading for the LUNA/BUSD and UST/BUSD trading pairs at 08:30 AM (UTC) on
    2022-05-13. Withdrawals for LUNA and UST will open when the network becomes
    stable,” Binance said in an announcement.

    “We are continuing to
    work with the project team to create a more stable environment for users and
    will keep the community updated accordingly,” the exchange added.

    Binance, the world’s
    largest cryptocurrency exchange by trading volume, has added LDO, the
    governance token of the Lido decentralized autonomous organization (DAO) to the Binance Convert.

    Binance Convert is a
    service where users can transform the cryptocurrency they hold into another
    cryptocurrency within seconds.

    The service also
    powers the convert function of the Binance app and is the main option for
    buying crypto on the Binance Lite app.

    The exchange, which
    first disclosed its intention to list the token a few days ago, announced the
    addition on Friday on its website.

    Keep Reading

    “Binance is excited to
    announce that LDO has been added to Binance Convert (previously named Convert
    & OTC Portal), with 30 new pairs available,” the exchange wrote on its
    website.

    Users can now trade LDO tokens against Bitcoin (BTC), Binance USD (BUSD), USD Coin (USDC),
    Tether (USDT) and other tokens.

    They can also now check
    for indicative prices on these assets through Binance Convert, the exchange
    said.

    More on LDO

    LDO, as the Lido DAO
    governance token, provides governance rights to members of the Lido
    community.

    This means that anybody
    holding LDO can vote in any decision-making process. However, the amount of
    tokens such holders are willing to stake determines their voting power.

    Trading Suspension

    The addition of LDO
    comes on the same day the top cryptocurrency exchange suspended the trading of
    LUNA and UST, Terra’s native token and algorithmic stablecoin, respectively, on
    its platform.

    The suspension follows
    plunges in the cryptocurrency markets. LUNA, for instance, dropped by more than
    99% within the last few days.

    “Binance will suspend
    spot trading for the LUNA/BUSD and UST/BUSD trading pairs at 08:30 AM (UTC) on
    2022-05-13. Withdrawals for LUNA and UST will open when the network becomes
    stable,” Binance said in an announcement.

    “We are continuing to
    work with the project team to create a more stable environment for users and
    will keep the community updated accordingly,” the exchange added.

    (ldo) adds binance conversion crypto gov platform token
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