Tony Kim
November 21, 2024 09:29
Binance Futures announced the introduction of SLERFUSDT and SCRTUSDT perpetual contracts, offering up to 75x leverage, to enhance users’ trading options.
Binance Futures announced the launch of two new perpetual contracts, SLERFUSDT and SCRTUSDT, scheduled to launch on November 21, 2024 at 11:30 UTC. According to Binance, these contracts will give traders the opportunity to leverage up to 75x their positions.
New contract details
The SLERFUSDT and SCRTUSDT contracts are designed to expand the trading options available on Binance Futures and improve user experience by introducing a wider variety of trading pairs. The underlying asset of one of the contracts, SLERF, is listed along with the specific contract address for verification. Likewise, SCRT, which represents Secret, is also verified through the contract address.
The maximum funding rate for this contract is +2.00% / -2.00%, and funding fee settlement occurs every 4 hours. Binance noted that the specifications of these contracts, including funding fees, tick size, and leverage, may be adjusted depending on market risk conditions.
Trading features and considerations
Binance offers a multi-asset mode, allowing traders to use a variety of margin assets, such as Bitcoin (BTC), when trading these contracts. This feature provides flexibility and can be particularly useful for those looking to diversify their margin assets.
Traders should be aware that these contracts are subject to Binance’s Terms of Use and the Binance Futures Service Agreement. The platform also emphasizes the importance of understanding the risks associated with futures trading, which can be volatile and risky.
meaning of the future
This move by Binance is part of a broader strategy to improve the trading experience on its platform by offering a wider variety of leveraged trading options. These developments are likely to attract both seasoned traders and new traders looking to explore different trading strategies.
With the increasing complexity of cryptocurrency markets and the growing demand for multiple trading instruments, Binance’s introduction of new contracts is an important step forward. This highlights the exchange’s commitment to meeting the evolving needs of its user base while navigating the risks associated with highly leveraged products.
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