Upcoming Adjustments to Binance Futures
In a current announcement, Binance has revealed that it’s going to delist and replace the leverage & margin tiers of 5 COIN-M perpetual contracts. Binance Futures will shut all positions and conduct an computerized settlement on the COIN-M KNCUSD, ICXUSD and XTZUSD contracts at 2024-05-20 09:00 (UTC), and ROSEUSD and APEUSD COIN-M perpetual contracts at 2024-05-21 09:00 (UTC). The contracts shall be delisted following the conclusion of the settlement course of.
Changes to Leverage and Margin Tiers
Binance Futures has additionally adjusted the leverage and margin tiers of the COIN-M KNCUSD, ICXUSD, XTZUSD, ROSEUSD and APEUSD perpetual contracts at 2024-05-10 10:30 (UTC). Current positions opened earlier than the replace shall be affected, and customers are strongly suggested to regulate their positions and leverage earlier than the adjustment to keep away from potential liquidation.
Essential Concerns for Customers
Customers are urged to shut any open positions previous to the delisting time to keep away from computerized settlement. Moreover, customers will be unable to open new positions for the aforementioned contracts from the next dates: 2024-05-20 08:30 (UTC) for KNCUSD, ICXUSD and XTZUSD COIN-M perpetual contracts, and 2024-05-21 08:30 (UTC) for ROSEUSD and APEUSD COIN-M perpetual contracts.
Further Protecting Measures
Binance Futures might implement further protecting measures towards the contracts with out additional announcement to guard customers and stop potential dangers in extraordinarily risky market circumstances. These measures might embody adjusting the utmost leverage worth, place worth, and upkeep margin in every margin tier, updating funding charges such because the rate of interest, premium and capped funding fee, altering the constituents of the worth index, and utilizing the Final Worth Protected mechanism to replace the Mark Worth.
Submit-Settlement Procedures
Following the settlement, all KNC, ICX, XTZ, ROSE and APE constructive balances in CM Wallets below the Portfolio Margin account shall be mechanically transferred to Cross Margin Pockets. For customers with no Portfolio Margin account, the balances shall be transferred to Spot Pockets. Destructive balances will bear an auto-repayment course of, and the conversion might take roughly 24 hours or longer.
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