Binance, a significant player in the cryptocurrency trading arena, has recently expanded its portfolio of trading instruments by introducing a new perpetual contract for Vanar Chain (VANRY), featuring a high leverage option of up to 50 times. The VANRY perpetual contract commenced trading on the platform on March 13 at 20:30 Turkey time, empowering traders with the potential for amplified returns on the underlying asset, Vanar Chain’s VANRY token, using the stablecoin USDT for settlement.
Launch Details and Contract Specifications
The launch of this new contract sets a benchmark in the trading community by allowing positions to be opened around the clock, with the additional functionality of multi-asset mode. The contract is characterized by a tick size of 0.00001 and operates under a capped funding rate between +2.00% and -2.00%. Settlement of funding fees occurs every four hours, providing frequent reconciliation for traders.
Attention to Market Risks and Changes
Binance has cautioned traders regarding potential alterations to the contract’s features in response to market conditions. These could include adjustments to the funding rates, tick sizes, leverage limits, and margin requirements, ensuring a balanced trading environment. These reminders underscore the importance of staying informed on the nuances of high-leverage trading, particularly within the volatile cryptocurrency market.
The introduction of the VANRY perpetual contract with 50x leverage marks an important milestone for Binance as it continues to cater to the demands of its diverse user base, seeking to capitalize on the dynamic movements of the cryptocurrency market. The announcement reflects Binance’s commitment to innovation and the constant enhancement of its trading ecosystem.