Binance to Update Collateral Ratios for Multiple Assets Under Portfolio Margin
Iris Coleman Oct 02, 2024 06:56
Binance announces an update to the collateral ratios for several assets under Portfolio Margin, effective from October 3, 2024.
Binance, one of the world's leading cryptocurrency exchanges, has announced an update to the collateral ratios for multiple assets under its Portfolio Margin program. According to Binance, the changes will take effect from October 3, 2024, at 06:00 (UTC) and are expected to be completed within approximately one hour.
Impact on Unified Maintenance Margin Ratio
Binance has advised users to closely monitor their Unified Maintenance Margin Ratio (uniMMR) as the updated collateral ratios will affect it. Users are urged to take necessary precautions to avoid potential liquidations or losses that could result from these changes.
Details of the Update
The specific details of the assets affected by the collateral ratio update have not been disclosed in the announcement. Binance has noted that there may be discrepancies in translated versions of the announcement, and users should refer to the original English version for the most accurate information.
Additional Information
This update follows Binance's continuous efforts to enhance its risk management framework and improve user experience. Users are encouraged to stay informed about such updates to manage their portfolios effectively.
For more information, you can read the official announcement on Binance.
Binance reserves the right to amend or cancel this announcement at any time without prior notice. Users should remain vigilant about the potential risks involved in digital asset trading, including the volatility of asset prices and the possibility of significant financial losses.
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