Binance Futures Introduces LOKAUSDT Perpetual Contract with 75x Leverage

Binance Futures is set to launch a new USDⓈ-Margined LOKAUSDT Perpetual Contract, offering leverage of up to 75x. This new addition aims to expand the range of trading options available on the platform and improve the trading experience for its users, according to Binance.

Details of the Perpetual Contract

The LOKAUSDT Perpetual Contract will be available starting 2024-09-24 at 11:30 (UTC). Traders can utilize up to 75x leverage, allowing for significant potential gains or losses. The contract will feature a maximum funding rate of +2.00% / -2.00%, with funding fee settlements occurring every four hours.

Binance has also noted that the specifications of the futures contract, including the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements, may be adjusted based on market risk conditions.

Multi-Assets Mode and Other Features

Another key feature of the LOKAUSDT Perpetual Contract is the Multi-Assets Mode. This mode allows users to trade the contract across multiple margin assets, subject to applicable haircuts. For instance, users can use Bitcoin (BTC) as margin when trading the LOKAUSDT contract.

The contract is subject to Binance’s Terms of Use and the Binance Futures Service Agreement. Users are encouraged to reference the original English version of the announcement for the most accurate information.

Market Impact and User Considerations

The introduction of the LOKAUSDT Perpetual Contract reflects Binance’s ongoing efforts to diversify its product offerings and provide more opportunities for traders. However, users should be aware of the high market risk and price volatility associated with futures trading. Binance advises traders to make independent assessments and consult advisors where appropriate before engaging in high-leverage trading.

For more information, users can visit Binance’s Responsible Trading page, and review the Terms of Use and Risk Warning.

Image source: Shutterstock