Binance Futures, a prominent player in the crypto derivatives exchange realm, has exciting news for traders and investors.
Binance has unveiled its latest addition to the trading landscape – a perpetual contract for the native token of Bancor Network, BNT.
This move opens up new opportunities for traders to engage with BNT through leveraged trading, providing a significant boost to the crypto derivatives market.
Scheduled to go live on August 10, 2023, at 15:00, the BNTUSDT perpetual contract promises to introduce an enhanced trading experience.
This perpetual contract allows traders to leverage their positions up to 20 times, a feature that empowers them to potentially amplify their gains.
Bancor Network is a trailblazing decentralized liquidity protocol that facilitates seamless token exchanges without intermediaries or slippage.
BNT, the native token of the Bancor Network, plays a crucial role in the ecosystem. It is utilized for staking in liquidity pools, enabling participants to earn fees from swaps.
One of BNT’s unique attributes is the “non-permanent loss protection” feature, which compensates liquidity providers for the opportunity cost associated with holding tokens in a pool.
The BNTUSDT perpetual contract is characterized by its linear structure. This contract is quoted and settled in USDT, the most widely recognized stablecoin in the crypto domain.
What sets perpetual contracts apart is their absence of an expiration date, allowing traders to hold positions indefinitely.
Additionally, these contracts employ a funding mechanism that aims to maintain the contract’s price close to the spot price of the underlying asset, enhancing market efficiency.
As with any trading endeavor, it’s crucial for users to be well-informed before diving in. The BNTUSDT perpetual contract operates under the umbrella of the Binance Terms of Use and Binance Futures Service Agreement.
Prospective users are strongly advised to carefully review the contract specifications to ensure a clear understanding of the terms and conditions.
