Binance has taken a step to enrich the trading environment and enhance user interaction on its Futures platform by introducing Toncoin contracts. The cryptocurrency exchange announced today that perpetual contracts with up to 50x leverage for TON will be launched at 15:30 Turkey time.
Binance Takes a Step for TON Coin
We can say that this development is particularly meaningful for Telegram users, as TON is known as the cryptocurrency of Telegram. Moreover, this move by Binance could also imply preparations for a potential listing in the future.
Here are the details for the Toncoin perpetual contracts:
- Market launch time: March 1, 2024, at 15:30 Turkey time
- Underlying Asset: Toncoin (TON)
- Settlement Asset: USDT
- Tick Size: 0.0001
- Capped Funding Rate: +2.00% / -2.00%
- Funding Fee Payment Frequency: Every Four Hours
- Maximum Leverage: 50x
- Trading Hours: 24/7
- Multi-Asset Mode: Supported
Other Topics
In its announcement, Binance highlighted that qualified USD margin futures liquidity providers could benefit from a 0.005% maker fee discount on TONUSDT Perpetual Contract trades for approximately 14 to 15 days.
The exchange also stated that it reserves the right to make adjustments to the TONUSDT Perpetual Contract features, including funding fees, tick sizes, maximum leverage, initial margin, and maintenance margin requirements, in response to market risk dynamics.
Looking at the Multi-Asset Mode functionality, we see that investors have the flexibility to participate in TONUSDT Perpetual Contract trades with multiple collateral assets, depending on current conditions. For example, when Multi-Asset Mode is enabled, users can use BTC as collateral while trading the TONUSDT Perpetual Contract.
