Binance Futures to Introduce USDⓈ-Margined SYN Perpetual Contract with 50x Leverage
Binance Futures is set to expand its trading options with the launch of the USDⓈ-Margined SYN Perpetual Contract on August 16, 2024. This new offering will allow traders to leverage up to 50x, according to an official announcement from Binance.
Key Features and Specifications
The SYNUSDT Perpetual Contract is designed to enhance the trading experience by providing more choices for traders. The contract will officially go live at 12:30 UTC on the launch date. The maximum funding rate at the time of launch is set at +2.00% / -2.00%, with funding fee settlements occurring every four hours.
Binance has indicated that the specifications of the SYNUSDT contract, including the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements, may be subject to adjustments depending on market risk conditions.
Multi-Assets Mode
Traders will also benefit from Binance's Multi-Assets Mode, which allows the use of multiple margin assets for trading the SYNUSDT contract. For instance, users can utilize Bitcoin (BTC) as margin when this mode is activated, subject to the applicable haircuts.
Regulatory and Risk Considerations
Binance noted that the SYNUSDT Perpetual Contract would be subject to the platform's Terms of Use and Futures Service Agreement. Additionally, traders are reminded of the high market risk and price volatility associated with futures trading. Binance emphasizes the importance of understanding these risks and making informed investment decisions.
The exchange also highlighted compliance with MiCA requirements, which impose certain restrictions on unauthorized stablecoins for EEA users from June 30, 2024.
Conclusion
With the introduction of the USDⓈ-Margined SYN Perpetual Contract, Binance Futures continues to expand its range of trading products, providing users with more opportunities and flexibility. Traders are encouraged to review all relevant terms and conditions and consider the associated risks before engaging in futures trading.
