Hunter Token Announces New USDT/HNTR Trading Pair and Liquidity Pool on PancakeSwap
In a strategic move to adapt to the evolving cryptocurrency landscape, Hunter Token ($HNTR) is set to launch a new trading pair with Tether (USDT) on the leading Decentralized Exchange (DEX), PancakeSwap, in December 2023. This development comes as the Hunter Token team decides to transition from the current trading pair of BUSD/HNTR.
Why the Shift from BUSD to USDT?
BUSD, a stablecoin co-founded by Paxos and Binance, has been a compliant and regulated token under the New York Department of Financial Services (NYDFS). However, recent regulatory challenges have led to significant changes. The NYDFS has directed Paxos to cease the issuance of BUSD due to concerns regarding the token’s “safe” issuance. Additionally, the Securities and Exchange Commission (SEC) is reportedly considering a lawsuit against Paxos for potential violations of investor protection laws.
Paxos has confirmed its compliance with the NYDFS order, stating that while it will halt the creation of new BUSD tokens from February 21st, the stablecoin will continue to be supported and redeemable until at least February 2024. Paxos customers will have the option to convert their BUSD to Pax Dollar (USDP), another stablecoin by Paxos. Binance CEO Changpeng Zhao (CZ) has indicated that while Binance will continue to support BUSD, its market cap is expected to decline over time.
The Rise of USDT
In light of these events, Hunter Token has chosen to align with USDT, the world’s largest stablecoin by market capitalization. USDT provides a more robust and widely accepted stablecoin option for traders and investors. The introduction of the USDT/HNTR trading pair is anticipated to offer greater stability and confidence for the Hunter Token community.
Transitioning the Liquidity Pool: From BUSD to USDT
As Hunter Token embraces the new USDT/HNTR trading pair, there will be significant changes to the existing liquidity pools. The current BUSD liquidity pool will undergo a phased decommissioning process. The Hunter Token team has outlined a plan to methodically remove liquidity from the BUSD pool, which will also entail a gradual cessation of the BUSD-based Liquidity Provider (LP) rewards platform.
Strategic Liquidity Reallocation
The liquidity extracted from the BUSD pool will not go idle. Instead, it will be strategically redirected to the newly established USDT/HNTR pool. This transition will be bolstered by additional funding, details of which are set to be announced in the near future. This reallocation is designed to ensure a seamless and robust liquidity foundation for the new trading pair, fostering a stable and efficient market for traders.
What This Means for Liquidity Providers
Liquidity providers currently participating in the BUSD pool will need to adjust their strategies in line with these changes. After the launch of the USDT/HNTR pool, an official announcement will be made, inviting liquidity providers to contribute to the new pool. In return, participants will have the opportunity to earn LP staking rewards, continuing the tradition of incentivizing community support for the Hunter Token ecosystem.
Ensuring a Smooth Transition
The Hunter Token team is committed to ensuring a smooth transition for its users. Detailed instructions and support will be provided throughout the process, ensuring that liquidity providers and traders can navigate the changes with confidence and ease. The shift to the USDT/HNTR pool is a forward-looking move that aligns with the platform’s dedication to providing a secure and progressive trading environment.
Looking Forward
The new USDT/HNTR trading pair and liquidity pool on PancakeSwap mark a significant milestone for Hunter Token. This move is expected to bolster the platform’s resilience in the market and provide users with a more stable trading environment. As Hunter Token continues to innovate and lead in the NFT marketplace for firearm fans, the community can look forward to more exciting developments and opportunities for engagement.
You can visit the Digital Arms marketplace website at https://marketplace.digital-arms.com/ or the Hunter Token website at https://www.hunter-token.com/, and keep up with updates at their Twitter account https://twitter.com/DigitalArmsNFT. Join the Digital Arms movement over at their Discord: https://discord.gg/digital-arms
