Binance Futures launches ADA/USDT perpetual contract with up to 75X leverage. According to the official announcement, the cryptocurrency trading platform Binance made the launch on 31st January 2020. As a result, users can now select between 1-75X leverage. Since its launch in September 2019, Malta-based exchange’s futures trading platform – Binance Futures – has added a slew of digital asset-based contract options that allow crypto traders to trade big with leverage as high as 125X.
As per the Binance’s statement, “Binance will execute a valuing point of confinement of ±1% on the marked cost in the initial 30 minutes after trading starts to forestall market manipulation. The perpetual contract will be matched in opposition to stablecoin Tether (USDT) and give clients an advantage up to multiple times.”
As with the XLM/USDT perpetual contract, which was announced on 20th Jan 2020, “perpetual contracts on Binance Futures are similar to the trading pairs on the spot market,” and they are “priced and settled in the same manner.”
Binance Futures’ users can now choose between 1X and 75X leverage.
Main Specifications for the Contract for Binance Futures Users
- Base Asset: ADA
- Quote Asset: USDT
- Settlement Asset: USDT
- Contract Unit: 1 ADA
- Tick Size: 0.00001 ADA
- Minimum Contract Quantity: 1
- Maximum Contract Quantity: 10,000,000
- Base Initial Margin Rate: 1.3%
- Base Maintenance Margin Rate: 0.65%
- Liquidation Fee: 0.5%
Additional 10 Perpetual Contracts Offered
As per the press release, Aaron Gong, Director of Binance Future says:
To fulfill the serious need of our clients, we are proceeding to acquaint better digital assets with the Binance Futures platform at a fast speed. The joining of Cardano (ADA) is an extra progression forward in our mission to develop the whole crypto derivative market and give the ultimate trading exposure to all the clients.
Binance Director also finds time from his busy schedules to post a tweet about the launch.