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Cryptocurrency market moves by Binance continue with a new step for an altcoin. Accordingly, Binance has announced that perpetual contracts with up to 50x leverage for the cryptocurrency MAVIA will start at 13:00 Turkey time. Binance has not yet listed MAVIA for spot trading on the cryptocurrency exchange.
Key Details of the MAVIA Perpetual Contract
Cryptocurrency exchange Binance has also revealed details for MAVIA. The details include:
- Contract Name: MAVIAUSDT
- Launch Time: 21 February at 13:00 Turkey time
- Underlying Asset: Heroes of Mavia (MAVIA)
- Settlement Asset: USDT
- Tick Size: 0.0001
- Capped Funding Rate: +2.00% / -2.00%
- Funding Fee Settlement Frequency: Every Four Hours
- Maximum Leverage: 50x
- Trading Hours: 24/7
- Multi-Asset Mode: Supported
During the launch, cryptocurrency exchange Binance emphasized that the maximum funding rate for the MAVIAUSDT Perpetual Contract is +2.00% / -2.00%. It also noted that funding fees are paid every four hours.
Other MAVIA Details
Binance stated that qualified USDⓈ-margined futures liquidity providers have the right to receive a 0.005% maker fee rebate for transactions in the MAVIAUSDT Perpetual Contract for approximately 14 to 15 days.
Binance also highlighted that it reserves the right to adjust the features of the MAVIAUSDT Perpetual Contract, including funding fees, tick sizes, maximum leverage, initial margin, and/or maintenance margin requirements, depending on market risk conditions.
Referring to the Multi-Asset Mode, Binance mentioned that it gives users the authority to trade in the MAVIAUSDT Perpetual Contract using multiple collateral assets. For example, when Multi-Asset Mode is enabled, investors can use BTC as collateral while participating in MAVIAUSDT Perpetual Contract transactions. Lastly, let’s remember that MAVIA is an altcoin project supported by Binance Labs.
