Binance Futures Introduces 1000WHYUSDT and 1000CHEEMSUSDT Contracts with 75x Leverage
Rebeca Moen Nov 25, 2024 11:46
Binance Futures expands its offerings with new 1000WHYUSDT and 1000CHEEMSUSDT perpetual contracts, providing up to 75x leverage. These contracts aim to enhance trading opportunities and user experience.
Binance Expands Futures Offerings
Binance Futures has announced the launch of two new USDⓈ-margined perpetual contracts: 1000WHYUSDT and 1000CHEEMSUSDT, both offering up to 75x leverage. This move comes as part of Binance's strategy to broaden its array of trading products and enhance the user trading experience.
Details of the New Contracts
According to Binance, the 1000WHYUSDT contract is linked to the Why token with a verified contract address of 0x9ec02756a559700d8d9e79ece56809f7bcc5dc27. Similarly, the 1000CHEEMSUSDT is associated with the Cheems token, verified at 0x0df0587216a4a1bb7d5082fdc491d93d2dd4b413.
Trading Specifications and Market Adjustments
The maximum funding rate at the launch of these contracts is set at +2.00% / -2.00%, with funding fees settled every four hours. Binance reserves the right to adjust the specifications of these contracts based on market conditions, which may include changes to the funding fee, tick size, leverage, and margin requirements.
Multi-Assets Mode and Trading Conditions
Traders can utilize the Multi-Assets Mode to trade these contracts across multiple margin assets, applying the necessary haircuts. For instance, users can use BTC as margin when the Multi-Assets Mode is activated. It's important to note that the listing of a token on Binance Futures does not imply its listing on Binance Spot.
Compliance and Risk Considerations
All perpetual contracts are subject to Binance's Terms of Use and the Binance Futures Service Agreement. Binance also highlights the potential risks involved in futures trading, advising users to conduct their own research and consider their financial objectives and risk tolerance before engaging in such trades.
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