Binance Futures has unveiled plans to introduce a new USDⓈ-Margined NEIRO/ETH Perpetual Contract, offering traders leverage of up to 75x. This move aims to broaden the array of trading choices and enhance the user experience on the platform, according to Binance.

Contract Details and Specifications

The NEIRO/ETH Perpetual Contract is set to go live on September 6, 2024, at 14:00 UTC. Key features include a maximum funding rate of +2.00% / -2.00% and a funding fee settlement frequency every four hours. These specifications are subject to change based on market risk conditions, as Binance reserves the right to adjust parameters such as the funding fee, tick size, maximum leverage, and margin requirements.

Multi-Assets Mode and Terms

Traders can leverage the Multi-Assets Mode to trade the NEIRO/ETH Perpetual Contract across various margin assets, including BTC, subject to applicable haircuts. This mode offers greater flexibility and potentially better margin utilization for users.

The new contract will adhere to Binance’s Terms of Use and the Binance Futures Service Agreement. Users are advised to consult these documents for comprehensive guidelines and conditions.

Market Impact and User Preparedness

This announcement follows a series of strategic moves by Binance to expand its futures trading portfolio. The introduction of high-leverage contracts like NEIRO/ETH can attract experienced traders looking for enhanced trading opportunities. However, it also brings significant risks, given the volatile nature of cryptocurrency markets.

Binance has emphasized the importance of responsible trading, urging users to assess the appropriateness of such high-leverage products in light of their own investment goals and risk tolerance. The platform provides resources for responsible trading to help users make informed decisions.

For further details, please refer to the official announcement on Binance.

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