As a researcher, I am excited to announce that we are introducing three new USD-margin perpetual contracts for our traders: COOKIEUSDT, ALCHUSDT, and SWARMSUSDT. These contracts will offer up to 75x leverage, allowing for potentially high returns or increased risk.
These contracts offer up to 75 times the leverage for traders, catering to users who prefer high-risk, potentially high-reward trades. Starting from 11:30 UTC, COOKIEUSDT will begin trading, followed by ALCHUSDT at 11:45 UTC, and finally SWARMSUSDT at 12:15 UTC. The contracts are associated with projects within Cookie DAO (COOKIE), Alchemist AI (ALCH), and Swarms (SWARMS) respectively, all of which are already listed on Binance‘s Alpha Market.
On January 7th, 2025, Binance Futures will debut the USDⓈ-M $COOKIE, $ALCH, and $SWARMS Perpetual Contracts at 11:30, 11:45, and 12:15 respectively. For more details, click here.
— Binance Futures (@BinanceFutures) January 7, 2025
1. In these contracts, Tether (USDT) will serve as the settlement currency, available for trading around the clock. Furthermore, Binance has activated Multi-Asset Mode in these contracts, enabling users to utilize various alternative assets such as Bitcoin (BTC) as margin. This feature provides more flexibility to traders. The funding rate for these contracts may fluctuate by up to 2.00%, with adjustments made every four hours. The smallest price movements for COOKIE and SWARMS are set at 0.0001, while ALCH’s increments are 0.00001. Binance reserves the right to modify these parameters according to market conditions to manage risks more efficiently.
For frequent traders looking to speculate on the fluctuations of certain cryptocurrencies without actually owning them, perpetual contracts might be a good fit. It’s important to note that just because Binance introduces futures contracts doesn’t automatically mean the associated token will also appear on its traditional trading market (spot market).
Due to transparency, the platform has also provided verified contact addresses:
- COOKIE (0xc0041ef357b183448b235a8ea73ce4e4ec8c265f)
- ALCH (HNg5PYJmtqcmzXrv6S9zP1CDKk5BgDuyFBxbvNApump), and
- SWARM (74SBV4zDXxTRgv1pEMoECskKBkZHc2yGPnc7GYVepump).
Before engaging in trading, it’s essential to note that the contracts have not been initiated yet. It would be beneficial for traders to review the original Binance Terms of Use and Futures Service Agreement thoroughly before starting trades. Binance also emphasizes that these instruments carry a high level of risk, meaning adjustments to leverage, margin requirements, and funding fees could potentially happen as required.
Binance Futures is a platform provided by Binance for trading derivative contracts related to cryptocurrencies, enabling users to participate in crypto price movements without having to own the actual cryptocurrency. It offers high leverage, various contract types, and sophisticated features like hedging and cross-margin, providing an advanced trading experience.
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2025-01-07 14:27