Binance Futures recently announced the launch of USDⓈ-M 1000LUNC perpetual contracts. The development will be undertaken at 13:00 UTC on September 9.
These perpetual contracts offer up to 25 times leverage, making them a great investment for users. The latest post by Binance shared crucial information about the launch, such as:
| USDⓈ-M Perpetual Contracts | 1000LUNCUSDT |
| Launching Time | September 9, 2022, at 13:00 (UTC) |
| Underlying Asset | 1000LUNC |
| Tick Size | 0.0001 |
| Settlement Asset | USDT |
| Maximum Leverage | 25 times |
| Capped Funding Rate | Clamp (Funding Rate, -0.75 * Maintenance Margin Ratio, 0.75 * Maintenance Margin Ratio) |
| Multi-Asset Mode | Supported |
| Trading Hours | 24 x 7 |
Besides this, the network also shared sensitive details about the launch and how it could affect the market. The post mentioned that Binance could modify the specifications of the contracts depending on market risk positions.
Such specifications include maximum leverage, maintenance margin requirements, tick size, and initial margin. In addition, the Multi-Asset Mode feature will allow customers to trade 1000LUNCUSDT perpetual contracts throughout different margin assets.
For example, activating the Multi-Asset Mode can allow users to utilize BUSD as a margin. The contracts will naturally be subject to the Binance Terms and Conditions. If any discrepancy arises between the translated document and the original version, the original will prevail.
Binance updated the announcement on September 8, pushing the launch one day back. While the motivations behind the move have not been explained, it managed to keep the users intrigued and anticipating.
Despite Binance’s market stature, the development is expected to bring some price volatility. Thus, users are suggested to keep researching before investing a huge capital during the period.