Well known digital asset exchange Binance on Thursday 13.02.2020 announced the launch of a new permanent contract product (VET/USDT) by its future trading platform, Binance Futures, which came live in September 2019.
In that way, VeChain 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, CAD/USDT, BAT/USDT.
You Can find that tweet here: https://twitter.com/binance
Also that announcement Can be found here: https://www.binance.com/en/support/articles/360039757391
Binance team described VeChain in following way:
"With the concept of 'Live for Collaboration', the VeChain project began in 2015 and is built to be the public blockchain platform supporting blockchain-based business applications offering real economic and social value.
"As a leading global enterprise level public blockchain platform, the VeChainThor Blockchain provides a comprehensive governance structure, a robust economic model, and advanced IoT integration, which can build a trust-free and distributed business ecosystem platform to enable a transparent information flow, efficient collaboration and high-speed value transfer."
Binance Futures users will be able to choose between 1x and 50x leverage.
Here are some of the main specifications for the contract:
- Base Asset: VET
- Quote Asset: USDT
- Settlement Asset: USDT
- Contract Unit: 1 VET
- Tick Size: 0.00001
- Minimum Contract Quantity: 0.1
- Maximum Contract Quantity: 10 million
- Base Initial Margin Rate: 2.00%
- Base Maintenance Margin Rate: 1.00%
- Liquidation Fee: 0.5%
That Perpetual Contract for VeChain will be available on Binance at 14.02.2020!
What is worth mention VeChain have a stunning growth in last week. For sure that information will push it even more :)
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