Binance Futures Launches USDT-Margined OP Perpetual Contracts
- Binance announced on their website that Binance futures will launch USDT-Margined OP perpetual contracts with up to 25x leverage.
- Binance has also raised a $500 million fund to invest in WEB3 startups.
- Binance plans to make the best of the current bear market as a way to be on the lookout for possible unicorn hopefuls.
Binance announced on its website that Binance Futures will launch USDT-Margined OP perpetual contracts with up to 25x leverage, early in the morning on June 1. Specifically, the launch will occur on June 1, 2022 at 14:00 (UTC).
In addition to the announcement, Binance added a few things that it believes people should keep in mind. For instance, OP perpetual contracts are USDT-margained futures contracts that use USDT as collateral only. Users will be able to select between 1-25x leverage.
With regards to the maximum leverage, Binance stated that the maximum amount of leverage available depends on the national value of the trader’s position – the larger the position, the lower the leverage. Traders can adjust the leverage according to their needs.
Binance made sure to mention that an individual should make sure to first select their leverage (and fulfill the Initial Margin requirement) before opening positions, or it will be set at 20x by default.
This futures launch is not the only thing in the works for Binance as the exchange has also raised a $500 million fund to invest in Web3 startups.
The fund will specifically prioritize Web3 startups, and it plans to make the best of the current bear market as a way to be on the lookout for unicorn hopefuls.
Binance Labs Executive Director of Investments and M&A, Ken Li, specifically mentioned that they “are looking for projects with the potential to drive the growth of the Web3 ecosystem.”
Read more: https://coinquora.com/binance-futures-launches-usdt-margined-op-perpetual-contracts/
Text source: News – CoinQuora – Latest Cryptocurrency and Block
