In a recent development, Binance has announced the launch of new trading contracts for Toncoin on its Futures platform. These contracts are specifically designed to offer traders the ability to leverage their positions up to 50 times. The initiation of these contracts is scheduled for 15:30 Turkey time, signifying Binance’s expanding services for their user base.
Expansion into Telegram’s Cryptocurrency
This move holds particular significance for Telegram users, as Toncoin is the digital currency associated with the messaging platform. Binance’s initiative hints at a future incorporation of Toncoin into their regular listing, potentially providing Telegram users with increased investment opportunities.
Contract Specifications
The specifics of the Toncoin perpetual contracts are as follows: They are set to launch on March 1, 2024, and will operate continuously, 24/7. USDT serves as the settlement asset for these contracts, which come with a tick size of 0.0001. A funding fee will be charged every four hours, and the funding rate is capped at plus or minus 2%. These contracts also support Multi-Asset Mode, allowing traders to use various assets as collateral.
Binance has also offered an incentive to USD margin futures liquidity providers, providing them with a 0.005% maker fee discount on trades of the TONUSDT Perpetual Contract for a limited time. Additionally, the platform reserves the right to adjust contract features like funding fees and leverage limits to align with market conditions.
The Multi-Asset Mode feature gives traders the flexibility to trade the TONUSDT Perpetual Contracts using a variety of collateral types, such as BTC. This allows users to leverage market conditions to their advantage and manage their investments more strategically.