Well known digital asset exchange Binance on 3.01.2020 announced the launch of a new permanent contract product (ADA / USDT) by its future trading platform, Binance Futures, which came live in September 2019.
In this way, Cardano join to other perpetual contracts already available on the Binance Futures: BTC/USDT, ETH/USDT, BCH/USDT, XRP/USDT, EOS/USDT, LTC/USDT, TRX/USDT, ETC/USDT, LINK/USDT, XLM/USDT.
Aaron Gong, director of Binance Futures, said, according to a press statement shared with CryptoGlobe:
"To meet the high demand of our users, we are continuing to introduce major digital assets to the Binance Futures platform at a rapid pace. The addition of Cardano (ADA) is another step forward in our mission to grow the entire crypto derivative market and offer the ultimate trading experience for all users."
Users of Binance Futures can choose between the 1x and 75x leverage.
Also there is some main specification of that contract:
- Base Asset: ADA
- Quote Asset: USDT
- Settlement Asset: USDT
- Contract Unit: 1 ADA
- Tick Size: 0.00001 ADA
- Minimum Contract Quantity: 1
- Maximum Contract Quantity: 10,000,000
- Base Initial Margin Rate: 1.3%
- Base Maintenance Margin Rate: 0.65%
- Liquidation Fee: 0.5%
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