delist Binance from monero Bisq Price Index constituents

[chaserene]

Binance's XMRBTC pair currently holds a 25% weight in the monero Bisq Price Index.

today Binance announced that they will delist monero on 2024-02-20, which means trading on the the above-mentioned pair will cease too.

besides, Binance has routinely suspended monero withdrawals in high-volatility scenarios, as was the case with this event too. that makes it likely that Binance has been operating a fractional reserve for monero, rendering their prices unreliable even now.

I urge you to remove Binance from the monero Bisq Price Index constituents.

[pazza83]

I agree it should be removed. There is a risk prices become inaccurate if Binances XMR/BTC price diverges from other exchanges in the coming weeks

[dutu]

Poloniex also had XMR withdrawals suspended for many weeks, which makes the price to be constantly lower than other exchanges.
Abnormal Exchange rate provider price impacting Bisq Market Rates

On the other hand KuCoin (not used at the moment for price calculation) is having pretty good volumes on XMR/BTC (double than Kraken).

[ghost]

FYI these are the only exchanges currently feeding XMR price. Removing Polo and Binance would leave just 2. (The Polo price is automatically removed for deviating too much anyway).

Bitfinex: BTC/XMR: 0.0030139
Binance: BTC/XMR: 0.003025
Kraken: BTC/XMR: 0.003039
Poloniex: BTC/XMR: 0.00295

[dutu]

Binance will have to be removed anyway since XMR will be delisted

[ghost]

Here is the PR to delist Binance/XMR: bisq-network/bisq-pricenode#48

[ghost]

Feedback sought for the proposal to add a new KuCoin XMR price feed:
bisq-network/bisq-pricenode#49