Darius Varu
November 15, 2024 14:54
Binance Futures will expand users’ trading options by launching the DEGENUSDT perpetual contract offering up to 75x leverage. The contract is available from November 15, 2024.
Binance Futures is preparing to expand its trading options with the introduction of the DEGENUSDT perpetual contract offering up to 75x leverage. As reported by binance.com, the move, scheduled to launch on November 15, 2024 at 11:30 UTC, aims to improve the trading experience for Binance users.
Key features of DEGENUSDT contract
DEGENUSDT perpetual contract is designed to provide traders with a highly leveraged option with a maximum funding rate of +2.00%/-2.00%. Funding fees are settled every 4 hours, allowing traders to manage their positions effectively. The contract is available in a ‘multi-asset mode’ that allows trading across a variety of margin assets, including Bitcoin (BTC).
Risk Management and Coordination
Binance emphasizes the importance of risk management, indicating that the specifications of the DEGENUSDT futures contract, including funding fees, tick size, and leverage, may be adjusted depending on market conditions. This flexibility is intended to protect users and maintain market stability.
Compliance and User Responsibilities
As with all Binance products, the DEGENUSDT contract is subject to the Binance Terms of Use and Binance Futures Service Agreement. Binance advises users to conduct their own risk assessment and seek professional advice if necessary, especially given the inherent risks associated with futures trading.
The launch of this contract comes amid a broader trend of exchanges offering a wider variety of flexible trading tools to meet the evolving needs of cryptocurrency traders. With the addition of DEGENUSDT, Binance continues to establish itself as a leader in the cryptocurrency futures market.
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