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Binance Lending renamed to Binance Savings

Image by Binance from Twitter

Mon, 13 Apr 2020, 01:44 am UTC

Crypto exchange Binance made a huge change in its services.

Binance announced that it has officially renamed Binance Lending to Binance Savings. It also made the following changes:

  • Flexible Deposits officially renamed to Flexible Savings
  • Fixed Deposits officially renamed to Locked Savings

Binance Savings can be accessed under “Savings” from the “Earn” tab in the main menu. Aside from these changes, Binance has been updating its platform. Just recently, it also added “hedge mode” on Binance Futures.

The new hedge mode allows users to hold positions in both long and short directions at the same time under the same contract. It also allows switching between one-way mode and hedge mode in the Preference setting. However, by default, it is set to one-way mode.

Prior to these changes, Binance also announced that it increased the maximum leverage on the Tezos (XTZ) and Tether (USDT) trading.

“Binance Futures has increased the maximum leverage on the XTZ/USDT perpetual contract to 75x. Users can now select any leverage between 1x and 75x,” Binance said in its announcement.

Meanwhile, software company Steamr has also proudly announced its partnership with Binance. Steamr and Binance’s partnership makes the latter the first major exchange with market data being distributed over a decentralized network. It also makes Binance’s real-time trades and quotes data available as a free product on Steamr permissionless Marketplace.

“By connecting Binance’s market data to the Steamr Network, we want to encourage and enable algorithmic traders to build better automated trading strategies and combine them with other data resources on Steamr,” said Henri Pihkala, Co-funder of Steamr. “In this way, we hope to give traders an edge in convenience, speed and security. And generate more volume for Binance on all traded assets.”

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