Over the past week, Binance staff reached out to multiple projects, asking for details of their relationships with market makers and whether they would consider funding the exchange’s savings products.
Specifically, Binance asked these projects if they would consider depositing 1-5% of their circulating tokens into their savings accounts to earn interest.
Similar promotional screenshots have also been shared on Twitter. Binance also asked for an explanation if the project in question had no relationship with the market maker or wished to contribute to its savings product, the sources said.
A Binance spokesperson said the rollout is part of an ongoing risk management program targeting a small number of exchanges-listed cryptocurrency institutions with trading pairs that are less liquid or have market capitalization relative to the broader market. smaller. Such features could expose users to risks, including potential market manipulation, the spokesperson said.