Binance to List Velodrome Finance (VELODROME) with Seed Tag Applied

Binance has announced the listing of Velodrome Finance (VELODROME) on its platform, with trading set to commence on December 13, 2024, at 14:00 UTC. The new spot trading pair available will be VELODROME/USDT. Users can begin depositing VELODROME two hours prior to the start of trading.

Withdrawals for VELODROME will open on December 14, 2024, at 14:00 UTC. The listing fee for this token is set at 0 BNB. Velodrome Finance operates on the Optimism network, with the smart contract address being 0x9560e827af36c94d2ac33a39bce1fe78631088db.

Understanding Velodrome Finance and Seed Tags

Velodrome Finance is described as a next-generation decentralized exchange (DEX) designed to serve as a liquidity hub for the Superchain. The token VELODROME is relatively new and carries a higher risk, with potential for significant price volatility. Binance has applied a ‘seed tag’ to VELODROME, indicating its innovative nature and associated risks.

To trade tokens marked with a seed tag, users must pass quizzes every 90 days on Binance Spot and/or Binance Margin platforms. These quizzes ensure that users understand the risks involved. The seed tag and associated risk warnings will be visible on relevant Binance trading pages.

Trading and Regional Restrictions

Trading bots and spot copy trading for VELODROME will be enabled within 24 hours of its listing. Users with active spot copy trading portfolios can include VELODROME by adjusting their personal pair preferences.

It is important to note that trading eligibility is subject to the user’s country or region of residence. Currently, users in Canada, Cuba, Crimea Region, Iran, Netherlands, North Korea, Syria, the United States and its territories, and certain areas of Ukraine are restricted from trading VELODROME. This list may change due to legal and regulatory updates.

For more details, the official announcement can be found here.

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