South Korea-based cryptocurrency trade Upbit has introduced the launch of assist for buying and selling new digital belongings.
In line with an official announcement, YieldBasis (YB) tokens shall be accessible for buying and selling on the BTC and USDT pair beginning December twenty sixth.
YB transactions shall be supported through the Ethereum community, and deposit and withdrawal operations shall be lively roughly 1 hour and quarter-hour after publication of the announcement. Buying and selling is scheduled to begin at 15:00 Turkish time.
Upbit warned customers to pay explicit consideration to their community choice earlier than making a deposit. They acknowledged that solely transfers made via the Ethereum community shall be accepted and that sending belongings from completely different networks could end in losses. It additionally shared YB’s legitimate contract tackle and requested traders to confirm it earlier than buying and selling.
The trade will implement some short-term restrictions initially of buying and selling to make sure market stability. No purchase orders are accepted throughout the first 5 minutes, and promote orders under 10% of the earlier closing value are restricted throughout the first jiffy. Solely restrict orders are allowed throughout the first two hours.
YieldBasis stands out as a Bitcoin-based leveraged liquidity protocol developed on the Curve Finance platform. This challenge goals to cut back short-term losses and improve the effectivity of BTC liquidity via automated leverage administration. Customers can earn revenue from transaction charges via ybBTC and take part within the governance course of by staking YB.
Upbit reminded traders that investing in digital belongings entails excessive dangers and harassed the necessity to rigorously contemplate challenge particulars and have in mind market circumstances earlier than making a transaction.
*This isn’t funding recommendation.
