Binance has announced a temporary suspension of deposits and withdrawals on the Polygon network due to an upcoming upgrade scheduled for July 1, 2021.
Suspension of Operations on Polygon
On July 1 at 8:10 UTC, Binance will suspend operations on Polygon due to the network upgrade known as the Bhilai Hard Fork. This upgrade aims to enhance the network's performance and scalability. The suspension will last until the network stabilizes post-upgrade. Binance assures users that all technical issues will be addressed to minimize inconvenience.
New USDC Trading Pairs
On the same day, July 1, Binance will also introduce two new USDC trading pairs: LPT/USDC and RVN/USDC, which will begin trading at 8:00 UTC. Additionally, more trading bots will be added for other pairs, including spot algorithm orders such as spot grid and DCA for LPT/USDC, RVN/USDC, and ARB/USDC.
Conclusion
The Polygon network update and the introduction of new USDC trading pairs reflect Binance's commitment to maintaining operations and enhancing platform functionality. The company continues to ensure operational continuity even during significant infrastructure changes.
The suspension of operations on the Polygon network and the launch of new USDC trading pairs are viewed as steps towards improving user experience and effective service management on the Binance platform.
