On Tuesday (February 4), digital asset exchange Binance announced that its futures trading platform, Binance Futures, which went live in September 2019, is launching a ZEC/USDT perpetual contract at 08:00 (UTC) on 5 February 2020.
According to Binance’s announcement, “to prevent market manipulation, Binance will implement a pricing limit of ±1% on the mark price within the first 30 minutes after trading starts.”
Also, it is worth keeping in mind that, as with the DASH/USDT perpetual contract, which was announced yesterday, “perpetual contracts on Binance Futures are similar to the trading pairs on the spot market,” and they are “priced and settled in the same manner.”
Binance Futures users will be able to choose between 1x and 50x leverage.
Here are some of the main specifications for the contract:
- Base Asset: ZEC
- Quote Asset: USDT
- Settlement Asset: USDT
- Contract Unit: 1 ZEC
- Tick Size: 0.01 USDT
- Minimum Contract Quantity: 0.001
- Maximum Contract Quantity: 10,000
- Base Initial Margin Rate: 2.00%
- Base Maintenance Margin Rate: 1.00%
- Liquidation Fee: 0.5%
The other twelve perpetual contracts being offered by Binance Futures are BTC/USDT, ETH/USDT, BCH/USDT, XRP/USDT, EOS/USDT, LTC/USDT, TRX/USDT, ETC/USDT, LINK/USDT, XLM/USDT, ADA/USDT, and DASH/USDT.
Featured Image Courtesy of Binance