The crypto exchange Binance has announced listing the Magic (MAGIC) token in its Innovation Zone. As per the firm, it will start trading for MAGIC/USDT, MAGIC/BUSD, and MAGIC/BTC spot trading pairs. The platform mentioned that its consumers can now initiate depositing MAGIC tokens while getting ready for their trading.
Binance Lists MAGIC Token in Its Innovation Zone
According to the company, It will start MAGIC tokens’ withdrawals on the 12th and 13th of this month. While providing clarification about the time mentioned for the withdrawals, Binance specified that this was an estimated time for the consumers’ reference. For specific details regarding the withdrawals’ status, the customers are advised to check out the withdrawal page of the platform.
Apart from that, the crypto exchange will incorporate MAGIC in the form of an exclusive borrowable token on the Isolated Margin and Cross Margin along with the latest margin pairs shortly. The latest Isolated Margin pairs take into account MAGIC/USDT and MAGIC/BUSD while MAGIC/USDT and MAGIC/BUSD are the unique Cross Margin Pairs.
The company, in its blog post, provided more information about the Magic token. As per Binance, it is known as the token specified for Treasure (a project of gaming ecosystem and infrastructure on the Arbitrum platform). Its products include Trove, The Beacon, and Bridgeworld. Binance also mentioned that MAGIC plays the role of a utility and governance token that can be e utilized for NFT transfer, governance, staking, as well as the rest of the gameplay functions.
As the crypto exchange puts it, the Innovation Zone has the status of a devoted trading zone enabling the customers to trade innovative and exclusive tokens with more volatility and risk in comparison with the rest of the tokens. In advance to having the ability to trade under the Innovation Zone, the clients need to go through the web-based form of the trading page of the Innovation Zone.
The Exchange Cautions Users about MAGIC’s Enhanced Risk While Trading
On the respective page, the terms of use are mentioned by Binance and the users are required to cautiously read them. The firm additionally clarified that it has not put any limitations on the above-mentioned trading pairs under the Innovation Zone. While advising the clients for another time, Binance brought to the front that they should exercise enough risk management in advance of trading MAGIC as it poses a greater risk than usual.
