Binance Expands ZKsync (ZK) Offering to Earn, Margin, and Futures
Binance, a leading cryptocurrency exchange, has announced the addition of ZKsync (ZK) to its Simple Earn, Margin, and Futures platforms. This update aims to provide more trading options for users and enhance the overall trading experience on the platform, according to Binance.
ZKsync on Binance Simple Earn
Starting from June 17, 2024, ZKsync (ZK) has been integrated into Binance Simple Earn. This service allows users to earn rewards on their cryptocurrency holdings in a simplified manner. Users can now opt to earn passive income by holding ZK in their Simple Earn accounts.
ZKsync on Binance Margin
In addition to Simple Earn, ZKsync (ZK) is now available on Binance Margin. The cryptocurrency has been added as a borrowable asset on both Cross and Isolated Margin. Users can trade the ZK/USDT pair on these margin platforms starting from June 17, 2024, at 11:00 (UTC). This addition expands the borrowing and trading options available to margin traders.
ZKsync on Binance Futures
Binance Futures has also launched the USDⓈ-M ZK Perpetual Contract, allowing users to trade with up to 50x leverage. The contract went live on June 17, 2024, at 11:00 (UTC). The maximum funding rate at launch is set at +2.00% / -2.00%, with a funding fee settlement frequency of every four hours.
Binance noted that it might adjust the specifications of the ZKUSDT Perpetual Contract based on market risk conditions. These adjustments could include changes to the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements.
Furthermore, the Multi-Assets Mode allows users to trade the ZKUSDT Perpetual Contract across multiple margin assets, subject to applicable haircuts. For instance, users can use BTC as margin when trading the ZKUSDT Perpetual Contract.
The ZKUSDT Perpetual Contract is subject to Binance's Terms of Use and the Binance Futures Service Agreement.
Additional Information
Binance has provided additional resources and guides for users who wish to learn more about the new offerings. Users are encouraged to check the Margin Data for the most updated list of marginable assets and further information on specific limits, collateral ratio, and rates.
As always, Binance reminds users to exercise caution when trading digital assets due to high market risk and price volatility. Users should consider their investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment decisions.