Binance has announced the removal of PEPE as a borrowable asset from its Flexible Loan service. This decision affects users who have existing PEPE loan positions, as Binance will close all outstanding PEPE loans at 2023-06-21 08:00 (UTC).
To avoid potential liquidation and additional fees, it is strongly recommended that users repay their outstanding PEPE loans before the specified date and time.
Effective from 2023-06-21 08:00 (UTC), Binance Flexible Loan will close all outstanding PEPE loan positions.
Users who have borrowed PEPE are advised to take prompt action and repay their loans before the specified deadline. Failure to do so may result in potential liquidation of the loan and a 2% liquidation fee, where applicable.
Currently, Binance Flexible Loan only supports repayments in the same cryptocurrency borrowed by the user. This means that users must repay their PEPE loans using PEPE tokens.
It is crucial for users to familiarize themselves with the repayment process and ensure they have sufficient PEPE tokens to repay their loans before the deadline.
For further information and clarification, users are encouraged to consult Binance’s Flexible Loan FAQ and Terms and Conditions.
These resources provide comprehensive guidance on the loan service, repayment procedures, and any other related queries users may have.
James Wilson is a crypto writer and researcher with over 5 years of experience in the industry. He is a graduate of the University of California, Berkeley, where he studied computer science and economics. After graduating, he worked as a software engineer at a major tech company before transitioning to a career in crypto.
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