Upbit, a leading Korean-based digital asset exchange, has released a list of new cryptocurrencies. Maple Finance’s native token Syrup will be able to trade in KRW, BTC and USDT pairs, the company announced on July 25th.
Upbit will now support trading for Maple Finance (Syrup) on KRW, BTC and USDT
Transaction and Transfer Schedules
- Trade begins: July 25th, 15:00
- Network Support: Ethereum (ERC-20)
- Entry/Exit Opening: Active within 3 hours of announcement.
Authorities emphasized that users can deposit and withdraw Syrup via the Ethereum Network. Transactions made over other networks are not supported.
Trade restrictions
Upbit has announced that it will deploy hierarchical transaction support for syrup transactions.
- You cannot place a purchase order in the first 5 minutes.
- In the first five minutes, no sales orders are 10% below the previous day’s closing price.
- Only limit orders will be processed during the first two hours.
As of 11:10 on July 25th, the market price of the syrup was reported as follows:
- KRW: 674.51
- BTC: 0.00000417 BTC
- USDT: 0.4864
What is a syrup token?
Maple Finance is a Decentralized Finance (DEFI) lending protocol that leverages liquidity from individual investors by lending to institutional investors that provide collateral. Syrup tokens are used in this protocol for both participation in governance and for staking purposes.
Security and Legal Notices
Upbit urged users to review detailed project documentation before investing and verify network integrity. He also noted that refunds from investments made on the wrong network can take a long time. It also reminded users that exits are permitted with only “verified ownership” wallet addresses being allowed.
Investors have been warned that the digital asset market is prone to high volatility, regulatory uncertainty, and market fluctuations.
*This is not investment advice.
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