Leading cryptocurrency platform Binance announced the launch of two new perpetual contracts for PEPE coin (1000PEPEUSDC) and Myro (MYROUSDT). These perpetuals have up to 50x leverage.
"To expand the list of trading options offered on Binance Futures and improve the trading experience of users, the MYROUSDT perpetual contract and the 1000PEPE/UDC perpetual contract will be launched," the exchange's official website said.
The MYROUSDT contract will be launched on March 5 at 08:30 UTC, and the 1000PEPEUSDC contract will be launched on March 7 at 8:30 UTC. Leverage is set at 50x.
Binance explained the launch of the new products with the desire to provide a diversification of trading opportunities for its users.
The announcement for the company's clients provides detailed information about the characteristics of the specified perpetual contracts. The table includes data on tick size, funding rate, leverage limits, and trading hours.
One of the notable features of these perpetuals is the inclusion of the Multi-Asset mode, which allows users to trade several marginal assets, providing greater flexibility and diversification opportunities. It is worth noting that the funding rate is set at +2.00% / -2.00%.
Binance takes note:
- Qualified futures liquidity providers with a USDⓢ margin will be eligible for a 0.005% maker fee rebate for transactions on the MYROUSDT perpetual contract for approximately 14-15 days.
- Users will be eligible for a 10% discount on the trading fee for all trades in USDC margin futures contracts until April 3, 2024, 12:30 (UTC).
- Binance may adjust the specifications of perpetual contracts depending on market-risk conditions.
- Multi-Asset mode allows users to trade contracts with multiple margin assets, subject to applicable discounts.
Traders are encouraged to take advantage of the company's additional features to maximize their trading benefits.
Following Binance’s announcement, Myro (MYRO) and Pepe (PEPE) showed significant gains. Myro shares rose 78.77% to $0.3524817, while PEPE coin rose 0.7% to $0.00000750.
Recall that Binance warned that all Nigerian Naira (NGN) services will be suspended as of March 8, 2024, due to a crackdown by Nigerian authorities. All open spot orders in this currency will be automatically closed.
