Leading cryptocurrency exchange Binance has launched a new trading platform similar to leading decentralized exchange Uniswap , which allows users to become market makers and trade with a smart contract.

According to the cryptocurrency exchange’s announcement, the new trading platform is an automated market maker (AMM) pool, and is the first of its kind on a centralized trading platform. It will not only let users trade funds but host different liquidity pools.

The product, the Binance Liquid Swap, will let users place their crypto funds into liquidity pools to add liquidity to the market, in exchange for interest and a cut of the trading fees the pool collects. The prices and transaction fees on the AMM will depend on the number of assets in each liquidity pool.

At launch, the Binance Liquid Swap supports three trading pars: USDT/BUSD, BUSD/DAI, and USDT/DAI.  Commenting on the new product launch Binance CEO Changpeng Zhao said:

We hope to further the growth of the DeFi marketplace and empower our users with more earning power and easier liquidity through a centralized AMM pool with the credibility, safety and security provided by Binance,

Binance touts the platform is strengthened by the security of the Binance platform and is its latest move into the decentralized finance space. As CryptoGlobe reported, the firm entered the DeFi space with the mainnet launch of the Binance Smart Chain earlier this month.

The Binance Smart Chain is a high-performance EVM-compatible blockchain that runs in parallel to the Binance Chain (launched in April 2019); it enables smart contracts and Binance Coin (BNB) staking.

The cryptocurrency exchange’s new platform uses the same model as Uniswap and its competitor SushiSwap. Uniswap, it’s worth noting, it’s the leading decentralized exchange on the Ethereum network, with over $1.92 billion in liquidity, according to Uniswap.info. Its trading volume has also recently hit $1 billion.