Home Crypto exchange Binance Futures inaugurates continual contract for Cardano

Binance Futures inaugurates continual contract for Cardano

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.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Amazon backed platform to offer Bitcoin trading services in Africa

Chipper Cash co-founder and CEO Ham Serunjogi has celebrated the conclusion of a financing round that has provided his company with $30 million. In...

Bitgo Plans to Launch Wrapped Bitcoin on the Tron Blockchain

Members of the crypto ecosystem will soon be able to leverage WBTC via the Tron (TRX) network. Just like the tokenized BTC created using Ethereum’s ERC20...

Ethereum’s Long Term Chart Is Extremely Simple To Read

The weekly Ethereum chart, as opposed to the daily chart, is simple and concise. There are 2 simple...

US Department of Transportation Says Blockchain Has Many Applications For Unmanned Aircraft Systems (Drones)

Blockchain technology could assist with adjusting and improving current technical challenges in the expanding business of commercial drone delivery, said the US...

Security tokens, blockchain settlement draw interest from institutions: MIT Bitcoin Expo panel

Amid growing competition between providers, institutions in the traditional finance space are looking at blockchain as another way to offer value to...