Binance Futures to Introduce 1000000MOGUSDT Perpetual Contract with 75x Leverage
Luisa Crawford Nov 07, 2024 11:56
Binance Futures announces the launch of a USDⓈ-margined 1000000MOGUSDT perpetual contract with up to 75x leverage, enhancing trading options for users.
Binance Futures is set to expand its trading options with the introduction of a USDⓈ-margined 1000000MOGUSDT perpetual contract, which will offer leverage of up to 75x. Scheduled to launch on November 7, 2024, at 12:30 UTC, the new contract aims to enhance the trading experience for Binance users, according to Binance.
Key Features of the 1000000MOGUSDT Contract
The 1000000MOGUSDT perpetual contract will feature a maximum funding rate of +2.00% / -2.00%, with funding fees settled every four hours. This contract is based on Mog Coin (MOG), identified by the contract address 0xaaee1a9723aadb7afa2810263653a34ba2c21c7a. Binance may adjust contract specifications such as funding fees, tick size, and leverage based on market conditions.
Trading Flexibility with Multi-Assets Mode
The introduction of the Multi-Assets Mode allows traders to use multiple margin assets, such as Bitcoin (BTC), when trading the 1000000MOGUSDT contract. This feature provides greater flexibility and efficiency in managing trading margins.
Regulatory and Risk Considerations
Binance emphasizes that the new perpetual contract will adhere to the Binance Terms of Use and the Binance Futures Service Agreement. Users should be aware of the potential discrepancies in translated versions of the announcement and rely on the original English version for the most accurate information.
As part of its compliance with MiCA requirements, Binance notes that unauthorized stablecoins will face restrictions for EEA users starting June 30, 2024. Additionally, the platform cautions users about the inherent risks and volatility in futures trading, urging them to make informed decisions and consult advisors if necessary.
Image source: Shutterstock