Cryptocurrency exchange Binance made a critical announcement today. According to the announcement, as a reflection of the expansion of trading options, Binance introduced the VANRY perpetual contract with up to 50x leverage. Let’s look at the details of this development.
50x Leverage Trading for VANRY Begins
In a statement regarding the matter, Binance announced that the VANRY perpetual contract will be launched on March 13 at 20:30 Turkey time. This contract will offer up to 50x leverage.
Binance also released a breakdown of what the VANRY perpetual contract includes in its announcement. The details are as follows:
- Launch time: March 13, 2024, at 20:30 Turkey time.
- Underlying Asset: Vanar Chain (VANRY)
- Settlement Asset: USDT
- Tick Size: 0.00001
- 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.
Important Points to Note
Binance reminded during the launch that the maximum funding rate for the VANRYUSDT Perpetual Contract is +2.00% / -2.00% and emphasized that funding fees are paid every four hours.
Binance also noted that market risk conditions may require adjustments to the VANRYUSDT Perpetual Contract features, including funding fees, tick sizes, maximum leverage, initial margin, and/or maintenance margin requirements.
