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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Founded in 2019, BarnBridge is a protocol aimed at tokenizing risk, and it was launched in September 2020. BarnBridge is a type of decentralized finance (DeFi) platform designed to create exchangeable tokens that expose consumers to market volatility. As of March 2021, the platform is still in an early stage of its launch.
BarnBridge (BOND) ExplainedBarnBridge is a project that extends its functionality to make DeFi more flexible and efficient. By tokenizing market fluctuations and exposures to risks, it can reduce volatility for conservative investors or increase it for day traders. BarnBridge allows for traditional risk management tools and fixed-income instruments in the DeFi market. Its main focus is to slice crypto risks, enabling market participants to invest in different products or assets depending on their risk profiles.
Sustainable DeFi platforms like Compound (COMP) and Aave (AAVE) can provide over 5% annual return (APY) on some assets. With profitability optimizers like yEarn, the APY can exceed 10%. The disadvantage of these DeFi platforms is their inability to offer fixed income; moreover, adding cryptocurrencies to a portfolio means taking significant risks as crypto assets are highly volatile.
The advantage of BarnBridge is its ability to consolidate fixed-income returns and stabilize them to increase system efficiency. This opens up the crypto industry to a wider audience by making entry more personal and predictable for consumers. In terms of traditional finance, BarnBridge can also be used to enhance the efficiency of stock transactions.
On the other hand, BarnBridge creates tokenized derivatives based on market fluctuations. Examples of underlying markets include yield rates, prices, market prediction rates, default rates in mortgages, among others. These derivative tokens are divided into high, medium, and low risk/reward categories. BarnBridge can be described as an inter-platform risk token protocol with fixed income and volatility tranches.
How to Purchase BarnBridge Coin?BOND Coin can be purchased quickly and securely through Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy BOND Coin, one must first register with Binance and then send fiat money. Following the transfer of a fiat currency like Turkish Lira or dollars, one can buy BOND in trading pairs with Bitcoin (BTC), BUSD, Binance Coin (BNB), and Tether (USDT).
In addition, on Binance, users can place an order to buy at a price lower than the market value by using the Limit tab. For this, you just need to enter the amount you want to buy and the price at which you want to buy it.
Crypto exchange Binance has announced it will no longer support four altcoins — BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastar (POLS). Effective July 22 at 03:00 UTC, it will delist these altcoins, causing a sharp drop in their market value.
This price action reflects market sensitivity to exchange delistings and regulatory actions.
Altcoins Nosedive Following Binance Delisting AnnouncementImmediately following the announcement, the affected tokens saw significant price declines. Specifically, DOCK plummeted nearly 30%, MDX dropped by 23.65%, and BOND and POLS both experienced over 17% losses.
The delistings are part of Binance’s periodic review. Often, it adds the tokens under the monitoring tag before delisting them. For instance, on July 1, Binance included 11 altcoins under its monitoring tag, including DOCK and POLS.
“At Binance, we periodically review each digital asset we list to ensure that it continues to meet a high level of standard and industry requirements,” Binance explained.
Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?
BOND, DOCK, MDX, and POLS Price Performance. Source: TradingViewThe review focuses on several critical factors, such as the project team’s commitment, trading volume, liquidity, network security, and responsiveness to due diligence inquiries.
Trading pairs like BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT will see a trading halt, and all existing trade orders will be automatically removed after delisting. Users must withdraw these tokens by October 22, 2024. If not, Binance might convert the delisted tokens into stablecoins, although this is not guaranteed and will be subject to a future notification.
Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season
Furthermore, Binance is making adjustments across various services to phase out these altcoins comprehensively. These changes include delisting from Binance Simple Earn and Auto-Invest, ending margin trading for these tokens, and removing them from Binance Convert and Binance Pay by predetermined dates.
Binance, one of the leading crypto exchanges, revealed its decision to delist all spot trading pairs for BarnBridge (BOND), Dock (DOCK), Mdex (MDX), and Polkastarter (POLS) by July 22, 2024. Notably, this unexpected move has sent ripples through the crypto market, leaving investors and traders in a state of speculation and concern. Here we explore the recent announcement and its potential implications on the cryptos.
Binance To Delist These 4 Major Crypto In its latest strategic review, Binance emphasized a commitment to maintaining high standards and adapting to market shifts. The delisting of BOND, DOCK, MDX, and POLS is driven by several factors that the exchange continuously monitors.
Meanwhile, these include project commitment, development activity, trading volume, network stability, and compliance with regulatory requirements. Binance’s decision reflects a proactive approach to managing its platform and protecting its users.
In addition, the delisting will specifically affect trading pairs BOND/BTC, BOND/USDT, DOCK/BTC, DOCK/USDT, MDX/USDT, and POLS/USDT. Once trading ceases, users will no longer see these tokens’ valuations in their wallets.
Notably, to manage their holdings, users should disable the “Hide Small Balances” option. Deposits of these tokens will not be credited post-July 23, and withdrawals will be unsupported after October 22, 2024.
Meanwhile, Binance has outlined a series of measures to handle the delisting. Binance Simple Earn will halt the token offerings by July 19, with automatic redemption into users’ Spot Wallets.
Similarly, Binance Auto-Invest will stop recurring investments by July 15, and VIP Loan will close all loan positions for these tokens by July 17. In addition, the Binance Funding Rate Arbitrage Bot and Margin services will also be impacted, with crucial deadlines for users to settle positions to avoid losses.
For instance, all BOND, DOCK, MDX, and POLS balances in Cross Margin Wallets will convert to USDT on July 17. Binance Convert will maintain a sell-only function until July 22.
Also Read: EtherFi Foundation Buys ETHFI, Passes Major Staking Proposal On Ethereum Mainnet
What’s Next? The delisting news has stirred unease among crypto enthusiasts. Binance’s influence on the market is significant; its actions often drive market sentiment. While positive announcements from a crypto exchange like Binance can fuel market confidence, delisting or any other negative update can have the opposite effect, potentially eroding the market value of the affected tokens.
For instance, the removal of BOND, DOCK, MDX, and POLS could reduce liquidity and trading volume for these tokens, causing volatility. Investors are particularly wary as these assets might struggle to find new exchanges to list on or maintain their market presence.
The broader cryptocurrency ecosystem is also on alert. Binance’s decision underscores the dynamic nature of the crypto market, where regulatory compliance, project performance, and market health dictate listing decisions.
BOND Price As of writing, BOND price was down 26% to $1.57, while its trading volume rocketed 270% to $23.1 million. On the other hand, DOCK price plunged nearly 40%, and its one-day trading volume also skyrocketed 180% to $4.13 million. Simultaneously, MDEX price plummeted over 40%, while POLS price slumped about 20% today.
POLS Price Also Read: US House Likely to Overturn Biden’s SAB 121 Veto, Key Events This Week
BarnBridge Coin is an ERC-20 token that governs BarnBridge, a protocol that allows users to hedge against DeFi yield sensitivity and price volatility.
What is BarnBridge (BOND)?BarnBridge (BOND) is a protocol aimed at tokenizing risks. It was launched in September 2020. BarnBridge is a DeFi protocol aimed at creating tradable tokens that expose investors to market volatility. BarnBridge is a project that prioritizes functionality to make DeFi more flexible and efficient.
The platform can reduce or increase volatility for risk-averse investors by tokenizing market fluctuations and exposure to risks. BarnBridge allows traditional risk management tools and fixed-income instruments in the DeFi market. At the core of the project is the service of categorizing crypto risks, allowing investors to invest in different products or assets based on their risk profiles.
BarnBridge creates tokenized derivatives based on market fluctuations. Examples of underlying markets include yield rates, prices, market forecast rates, default rates, and others. These derivative tokens are divided into high, medium, and low risk/reward categories. BarnBridge is a cross-platform risk token protocol with fixed income tranches and volatility.
The advantage of BarnBridge is that it aggregates fixed-income earnings and continuously increases system efficiency. From a traditional finance perspective, BarnBridge can be considered for stock trading.
Where to Buy BOND Coin?BOND Coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. BarnBridge Coin is traded on the Binance platform in BOND/BTC, BOND/BNB, BOND/BUSD, and BOND/USDT pairs.
To purchase BOND, you must first register with the Binance exchange. After completing the registration, you need to transfer cryptocurrency or fiat currency to the Binance account wallet. Once the transfer is complete, you can buy BarnBridge Coin from any of the four pairs mentioned above. For purchasing from the BOND/USDT trading pair, you need to first go to the interface of this pair. Enter the desired amount in the limit section of the BOND/USDT interface. After specifying the amount, execute the purchase by placing a BOND Buy order.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
In a blog post on Tuesday, Binance Exchange, the largest crypto trading platform by volume, announced the automatic conversion of several delisted tokens to USDC.
This action will be executed based on the average token to USDC exchange rate within the conversion period.
What Binance Exchange Users Need To KnowAfter delisting 10 tokens from its catalog, Binance said in a follow-up message that it would convert them to USDC automatically, enabling holders to access their funds. After the conversion happens, the exchange will credit the stablecoin equivalent of the affected tokens to users’ wallets by April 28, 2025. The tokens include:
Vai (VAI) Tornado Cash (TORN) OMG Network (OMG) Waves (WAVES) NEM (XEM) BarnBridge (BOND) Dock (DOCK) Mdex (MDX) Polkastarter (POLS) Pundi X PURSE (PURSE) Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?
Holders of these tokens should adjust their trading strategies accordingly to prepare for the upcoming changes. Failure to do so by October 28 would see them automatically converted to USDC, effectively phasing out the affected tokens from the exchange.
“During the Conversion Period [between October 29, 2024 and April 28, 2025], users will not be able to view the above tokens in their Binance wallets,” Binance articulated.
In this regard, it is worth mentioning that the history of Binance’s tokens delisting often inspires volatility. For instance, the exchange delisted six altcoins around mid-August, causing double-digit price drops for PowerPool (CVP) and Ellipsis (EPX). These tokens also featured among the delisted assets.
However, Binance is not only removing several tokens but also adding new ones to its platform. One of the notable additions is Scroll (SCR), a zkRollup scaling solution for Ethereum.
As per the announcement, SCR will be listed on October 11, with pre-market trading for the SCR/USDT pair set to open. This move supports Ethereum’s scalability by enabling faster, more efficient transactions while maintaining security and decentralization.
“Binance is excited to announce the 60th project on Binance Launchpool – Scroll (SCR), a Bytecode-level compatible zkEVM Rollup,” an excerpt in Binance’s announcement read.
Read more: What are Crypto Airdrops?
With this listing notice, Binance becomes the first platform to list Scroll’s powering token. The exchange will also airdrop 55,000,000 SCR, representing 5.5% of the total supply. Airdrop farming will start on Wednesday, October 9. The participants must lock their BNB and FDUSD to receive the SCR tokens.
Crypto exchange behemoth Binance notified users on Friday that it plans to delist specific crypto trading pairs shortly ahead. Notably, the digital asset trading platform eyes delisting Heroes of Mavia, OMG Network, and BarnBridge (BOND) USD-Margined perpetual contracts. In turn, traders and investors anticipate a negative impact on these tokens’ prices.
Binance Announces Plans To Delist MAVIA, OMG, & BOND Futures Contracts In an official Binance announcement dated December 6, the crypto exchange revealed that it will delist MAVIAUSDT, OMGUSDT, and BONDUSDT perpetual contracts on December 16 at 09:00 UTC. Further, the announcement notified users that the firm’s future trading division would close all positions and conduct an automatic settlement for the abovementioned pairs.
Meanwhile, users were urged not to close or open any positions prior to the delisting time to avoid the automatic settlement process. Moreover, the platform’s colossal user base is not permitted to open new positions for these perpetual contracts starting December 16 at 08:30 UTC. Further, at 09:00 UTC on the same date, the trading platform’s Funding Rate Arbitrage Bot will also end all arbitrage strategies and conduct an automatic settlement for these assets.
Overall, the leading crypto exchange revealed that this mover comes to “protect users and prevent potential risks in extremely volatile market conditions.” While this modified offering provides users with a safe trading experience, token delisting chronicles usually negatively impact prices.
How Are The Tokens Performing? At press time, BOND price crashed nearly 10% intraday and is currently resting at $1.58. The token’s 24-hour low and high were $1.54 and $1.77, respectively.
Similarly, OMG price plunged roughly 5% to reach $0.5781. Its 24-hour low and peak were $0.5522 and $0.6164, respectively.
Lastly, MAVIA price cracked 10% intraday and is currently sitting at $1.94. The coin’s 24-hour low and high were $1.92 and $2.27, respectively. Overall, the tokens’ slumping action falls in line with Binance’s plans to delist perpetual contracts for these assets.
Simultaneously, it’s also worth noting that the same crypto trading platform also delisted several BTC margin trading pairs recently, sparking similar price dip concerns. These delisted margin pairs included Band Protocol, Gitcoin, Highstreet, and Perpetual Protocol, among many others.
Also, the crypto trading platform discontinued support for the NOT/BNB and RDNT/BTC trading pairs recently, sparking bearish market sentiments. Nevertheless, the Richard Teng-led firm continues to stand strong on its statement, revealing that the delisting process comes only to benefit users.
