To grant ultimate trading experience for its users, Binance Futures has inaugurated a new perpetual contract product ADA/USDT on 31st January 2020.
Binance Futures users can now select between 1x and 75x leverage.
According to them, to stave off market manipulation, Binance will enforce a pricing maximum of over 1 percent on the marked price within the first 30 minutes after marketing begins.
As with the XLM/USDT perpetual contract, which was declared on January 20, “perpetual contracts on Binance Futures are identical to the trading pairs on the spot market,”
They are priced and finalized in the same way as well.
Specifications for the contract
Some of the primary specifications for the contract are:
- Base Asset: ADA
- Base Maintenance Margin Rate: 0.65%
- Quote Asset: USDT
- Contract Unit: 1 ADA
- Settlement Asset: USDT
- Minimum Contract Quantity: 1
- Tick Size: 0.00001 ADA
- Maximum Contract Quantity: 10,000,000
- Base Initial Margin Rate: 1.3%
- Liquidation price: 0.5%
The remaining ten constant contracts proposed by Binance Futures are BTC/USDT, XLM/USDT, ETH/USDT, BCH/USDT, LINK/USDT, EOS/USDT, LTC/USDT, TRX/USDT, ETC/USDT, and XRP/USDT.
In a statement, Director of Binance Futures, Aaron Gong, said to achieve the high need of their users, they are beginning to inaugurate major digital assets to the Binance Futures platform at a quick stride.
“The addition of Cardano (ADA) is another step forward in our objective to expand the whole crypto secondary market and propose the utmost trading experience for all users.”
Charles Hoskinson, Co-Founder, and CEO of IOHK, also added that despite a few misunderstandings making rounds in the crypto industry, he has not detected any evidence indicating that the EF or the ETH2 roadmap is linked to Cardano’s roadmap and technology.
He said that he has been noticing some statements roaming around about ethereum 2 copying Cardano.
He, however, set it straight there is no proof that the EF or the ETH2 roadmap is linked to Cardano’s roadmap and technology at all.
“It’s obvious we are on entirely different directions and that’s fair for us all.”