Binance has taken another step to expand its range of trading options and enhance users’ trading experiences by preparing to launch a USDC-collateralized 1000SHIB perpetual contract offering up to 50x leverage. This new contract is set to hit the market at 10:00 AM Turkey time on March 28, 2024.
Details of the USDC-Collateralized 1000SHIB Perpetual Contract
In its announcement, Binance provided a breakdown of the key details for the USDC-collateralized 1000SHIB Perpetual Contract. These include:
- Launch time: 2024-03-28 at 07:00 (UTC)
- Underlying asset: Shiba Inu (1000SHIB)
- Settlement asset: USDC
- Tick size: 0.000001
- Capped funding rate: +0.4850% / -0.4850%
- Funding fee settlement frequency: Every Eight Hours
- Maximum leverage: 50x
- Trading hours: 24/7
- Multi-Asset Mode: Supported.
Binance also stated in its announcement that users currently have the right to a 10% promotional transaction fee discount on all transactions made in USDC-margined futures contracts.
Finally, Binance noted that it reserves the right to periodically adjust the features of the aforementioned futures contracts, including but not limited to funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements, considering market risk conditions.
