Darius Baruo Nov 15, 2024 14:54
Binance Futures is set to launch the DEGENUSDT perpetual contract offering up to 75x leverage, expanding trading options for users. The contract will be available from November 15, 2024.
Binance Futures is preparing to broaden its trading options with the introduction of the DEGENUSDT perpetual contract, offering leverage of up to 75x. Scheduled for launch on November 15, 2024, at 11:30 UTC, this move aims to enhance the trading experience for Binance users, as reported by binance.com.
Key Features of DEGENUSDT Contract
The DEGENUSDT perpetual contract is designed to provide traders with a high-leverage option, capped at a maximum funding rate of +2.00%/-2.00%. Funding fees will be settled every four hours, allowing traders to manage their positions effectively. The contract is available under the ‘Multi-Assets Mode,’ which enables trading across various margin assets, including Bitcoin (BTC).
Risk Management and Adjustments
Binance emphasizes the importance of risk management, indicating that the specifications of the DEGENUSDT futures contract, such as funding fees, tick size, and leverage, may be adjusted according to market conditions. This flexibility is intended to protect users and maintain market stability.
Compliance and User Responsibilities
As with all Binance offerings, the DEGENUSDT contract is subject to the Binance Terms of Use and the Binance Futures Service Agreement. Binance advises users to conduct their own risk assessments and seek professional advice where necessary, particularly given the inherent risks associated with futures trading.
The launch of this contract comes amid a broader trend of exchanges providing more diverse and flexible trading instruments to cater to the evolving needs of cryptocurrency traders. With the addition of DEGENUSDT, Binance continues to position itself as a leader in the crypto futures market.
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