Darius Baru
17 Aug 2024 02:52
Binance Futures will launch SYNUSDT perpetual contracts on August 16, 2024, enhancing trading options by offering up to 50x leverage.
Binance Futures will be expanding its trading options by launching USDⓈ-Margined SYN perpetual contracts on August 16, 2024. According to an official announcement from Binance, this new product will allow traders to utilize up to 50x leverage.
Key Features and Specifications
The SYNUSDT Perpetual Contract is designed to enhance the trading experience by providing traders with more choices. The contract will be officially launched at 12:30 UTC on the launch date. The maximum funding rate at launch is set at +2.00% / -2.00% and the funding fee settlement will be made every 4 hours.
Binance stated that SYNUSDT contract specifications, including funding fees, tick size, maximum leverage, initial margin, and maintenance margin requirements, may be adjusted based on market risk conditions.
Multi-asset mode
Traders can also benefit from Binance’s multi-asset mode, which allows them to use multiple margin assets to trade SYNUSDT contracts. For example, users can utilize: Bitcoin When this mode is activated, (BTC) is used as margin depending on the haircut applied.
Regulatory and Risk Considerations
Binance has stated that SYNUSDT Perpetual Contract is subject to the Platform’s Terms of Use and Futures Service Agreement. Traders should also be aware of the high market risks and price volatility associated with futures trading. Binance emphasizes the importance of understanding these risks and making informed investment decisions.
The exchange also highlighted that it is compliant with MiCA requirements, which impose certain restrictions on non-permissioned stablecoins for EEA users from June 30, 2024.
conclusion
With the introduction of USDⓈ-Margined SYN Perpetual Contract, Binance Futures continues to expand its range of trading products, providing users with more opportunities and flexibility. Traders are advised to review all relevant terms and conditions and consider the associated risks before engaging in futures trading.
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