Rebecca Moen
November 25, 2024 11:46
Binance Futures expands its products with new 1000WHYUSDT and 1000CHEEMSUSDT perpetual contracts, offering up to 75x leverage. These agreements aim to improve trading opportunities and user experience.
Binance Expands Futures Products
Binance Futures announced the launch of two new USDⓈ margin perpetual contracts, 1000WHYUSDT and 1000CHEEMSUSDT, both offering up to 75x leverage. This move comes as part of Binance’s strategy to expand its range of trading products and improve user trading experience.
New contract details
According to Binance, the 1000WHYUSDT contract is linked to the Why token with confirmed contract address 0x9ec02756a559700d8d9e79ece56809f7bcc5dc27. Likewise, 1000CHEEMSUSDT is linked to the Cheems token identified at 0x0df0587216a4a1bb7d5082fdc491d93d2dd4b413.
Trading specifications and market adjustments
Upon launch of the contract, the maximum funding rate is set at +2.00% / -2.00% and the funding fee is settled every 4 hours. Binance reserves the right to adjust the specifications of these contracts depending on market conditions, which may include changes to funding fees, tick sizes, leverage, and margin requirements.
Multi-asset mode and trading conditions
Traders can utilize the multi-asset mode to trade these contracts across multiple margin assets by applying the necessary haircuts. For example, when multi-asset mode is enabled, users can use BTC as margin. It is important to note that listing a token on Binance Futures does not mean it will be listed on Binance Spot.
Compliance and risk considerations
All perpetual contracts are subject to Binance’s Terms of Use and Binance Futures Service Agreement. Binance also highlights the potential risks associated with futures trading, advising users to conduct their own research and consider their financial goals and risk tolerance before engaging in such trading.
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