Binance Futures to Introduce USDC-Margined BOME, TIA, and MATIC Perpetual Contracts with Up to 75x Leverage
Jessie A Ellis Apr 24, 2024 07:10
Binance Futures is set to expand its trading offerings by launching USDC-margined perpetual contracts for BOME, TIA, and MATIC cryptocurrencies. These contracts will provide traders with leverage of up to 75x, allowing for enhanced trading opportunities. The launch is aimed at enhancing users' trading experience and increasing trading choices on the Binance Futures platform.
In an announcement made on the Binance Support Center, Binance Futures revealed that the BOMEUSDC Perpetual Contract will be launched on April 25, 2024, at 07:00 (UTC) with up to 50x leverage. Additionally, the TIAUSDC Perpetual Contract will be introduced at 07:15 (UTC) with the same leverage, followed by the MATICUSDC Perpetual Contract at 07:30 (UTC) with up to 75x leverage.
The underlying assets for these contracts are the BOOK OF MEME (BOME), Celestia (TIA), and Polygon (MATIC) cryptocurrencies, with settlement in USDC. The tick size for BOMEUSDC is 0.000001, for TIAUSDC it is 0.0001, and for MATICUSDC it is 0.0001.
Funding rates for these perpetual contracts will be capped at +2.0000% / -2.0000% for BOMEUSDC and TIAUSDC, and +0.4500% / -0.4500% for MATICUSDC. Funding fee settlements will occur every four hours for BOMEUSDC and TIAUSDC, and every eight hours for MATICUSDC.
Traders can enjoy trading these perpetual contracts 24/7, and the Multi-Assets Mode is supported, allowing users to trade across multiple margin assets, subject to applicable haircuts. Binance has also announced that starting from April 3, 2024, users will benefit from zero maker fees and a 0.017% taker fee for all trades on USDC-margined futures contracts.
It's important to note that Binance may adjust the specifications of these futures contracts, including funding fees, tick size, maximum leverage, initial margin, and maintenance margin requirements, based on market risk conditions. Traders are advised to refer to the Binance Terms of Use and the Binance Futures Service Agreement for more information on the perpetual contracts.
With this new offering, Binance continues to expand its range of trading options, providing users with increased flexibility and opportunities to trade various cryptocurrencies with leverage. Traders can access the Binance Futures platform via the Binance website or the Binance mobile app.
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