- Binance Futures has announced updates to numerous futures pairs in an effort to protect users and maintain the integrity of the trading environment.
- The leading crypto derivatives trading platform plans to delist and update various perpetual contracts, including USDⓈ-M STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT.
- Users are advised to adjust their positions and leverage before the update to avoid potential liquidation risks.
Binance Futures announces updates to numerous futures pairs to enhance user protection and trading environment integrity. The move affects several perpetual contracts and comes with advice for users to adjust positions and leverage.
Binance Futures Announces Delisting and Updating of Perpetual Contracts
The platform will initiate the closure of all positions for USDⓈ-M STPTUSDT, SNTUSDT, and MBLUSDT perpetual contracts at 12:00 on May 13, 2024, and carry out automatic settlements. Subsequently, the RADUSDT and CVXUSDT contracts will undergo the same process at 12:00 on May 14, 2024. These contracts will be delisted following the completion of settlements. Binance Futures will also make adjustments to the leverage and margin tiers of the aforementioned perpetual contracts at 13:30 on May 6, 2024. It is crucial for users to remember that existing positions opened before the update will be affected. Therefore, users are advised to adjust their positions and leverage before the adjustment to avoid potential liquidation risks.
Binance Futures Retains Right to Implement Additional Protective Measures
Binance Futures reserves the right to implement additional protective measures without prior announcement to mitigate risks associated with highly volatile market conditions. These measures may include adjusting maximum leverage values, position values, maintenance margins, updating funding rates, changing the components of price indices, and using the Last Price Protected mechanism to update the Mark Price. Users are prohibited from opening new positions for the affected contracts from the following dates: 11:30 on May 13, 2024, for STPTUSDT, SNTUSDT, and MBLUSDT USDⓈ-M perpetual contracts and 15:30 on May 14, 2024, for RADUSDT and CVXUSDT USDⓈ-M perpetual contracts. Users are advised to close their open positions before the delisting time from the exchange list to avoid automatic settlements.
Conclusion
In conclusion, Binance Futures’ move to delist and update various perpetual contracts is a strategic move aimed at protecting users and maintaining the integrity of the trading environment. Users are advised to adjust their positions and leverage before the update to avoid potential liquidation risks. The platform also reserves the right to implement additional protective measures without prior announcement in response to highly volatile market conditions.
