Binance to delist LUNC perpetual contract
Binance to delist LUNC perpetual contract
Cryptocurrency exchange Binance announced that it will delist the LUNC perpetual contract from its leveraged cryptocurrency futures trading platform.
Binance Futures will close all positions and automatically settle the USDⓈ-M 1000LUNCBUSD perpetual contract on June 8, 2023, at 09:00 UTC.
The decision is part of the cryptocurrency exchange's ongoing efforts to streamline product offerings and improve the user experience, according to Binance's website.
With the upcoming delisting of LUNC, Binance Futures will adjust the leverage and margin levels of this perpetual contract. The changes will be effective immediately and will affect existing positions opened prior to the update.
The exchange notes that in order to protect traders' investments and ensure a smooth transition during this period of change, it may implement additional risk management measures for the USDⓈ-M 1000LUNCBUSD perpetual contract.
In addition, in order to ensure transparency and fair trading practices, Binance Futures may activate a final price protection mechanism to update the market price to prevent discrepancies.
The platform said it will continue to monitor the situation and take all necessary measures to maintain the integrity of the market and protect its user base.
We previously reported that Binance intended to remove privacy tokens for users in France, Italy, Poland, and Spain from the list of assets available on the platform.
Founded in Hong Kong in 2017, Binance is not only one of the largest cryptocurrency exchanges but also a platform for creating cryptocurrency business projects. The crypto exchange has its own platform based on the TradingView toolkit, and there is a Maker/Taker reward grid for active traders.
