Binance Futures is expanding its range of trading options by launching a new USDⓈ-Margined CHESS Perpetual Contract with up to 75x leverage. This new contract will be available starting August 29, 2024, at 07:30 (UTC), according to a recent announcement by Binance.

Enhanced Trading Experience

The introduction of the CHESSUSDT Perpetual Contract aims to enhance the trading experience for users by providing more trading choices. The contract will offer a maximum funding rate of +2.00% / -2.00%, with funding fee settlements occurring every four hours.

Adjustable Specifications

Binance has indicated that it may adjust various specifications of the contract based on market risk conditions. These adjustments could include changes to the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements.

Multi-Assets Mode

Users will also have the option to trade the CHESSUSDT Perpetual Contract across multiple margin assets through Binance’s Multi-Assets Mode. This feature allows users to use different assets, such as Bitcoin (BTC), as margin when trading the contract, subject to applicable haircuts.

Terms and Conditions

The CHESSUSDT Perpetual Contract is subject to Binance’s Terms of Use and the Binance Futures Service Agreement. Users are advised to reference the original English version of the announcement for the most accurate and up-to-date information, as translations may contain discrepancies.

For more details, visit the official announcement on Binance’s website.

Binance reserves the right to amend or cancel this announcement at any time without prior notice. Users should consult their own advisors for financial or investment advice and be aware of the risks involved in futures trading.

Image source: Shutterstock