Binance Futures launches the option to trade NEO perpetual contracts
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Answer Binance Futures launches the option to trade NEO perpetual contracts
Cryptocurrency exchange Binance announced Sunday that its futures trading platform, Binance Futures, launched in September 2019, will launch a perpetual contract for NEO.
NEO is currently ranked 19th by total market capitalization on coinmarketcap.
A brief definition of it was provided by the Binance platform as follows:
Neo is a community-led open source platform.
It uses blockchain technology and digital identities to digitize and manage assets using smart contracts.
Using a distributed network, it aims to create a smart economy by building the infrastructure for the next generation of the internet and creating a solid foundation for mass blockchain adoption.
Neo’s mainnet was launched in 2016, and has been in stable operation for more than 3 years.
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Neo expects to launch Neo 3 in 2020, a robust implementation with higher throughput, greater stability and security, an improved smart contracting system, and a feature-packed infrastructure set to enable developer adoption and accelerate enterprise-level blockchain innovation.
The new product and option from Binance launches today, February 17, 2020 at 08:00 (UTC).
According to announce Binance will prevent market manipulation and Binance will implement a pricing limit of ±1% on the currency price within the first 30 minutes after the start of trading.
It is worth noting that the new option works as well as the perpetual contract of VET/USDT, which was announced last Thursday, February 13th.
Binance perpetual futures contracts are similar to trading pairs in the spot market as they are characterized by prices and stability in the same way.
Binance futures users will be able to use leverage between 1x and 50x.
Here are some of the key specifications of the new contract:
- Core Asset: NEO
- Asset quote: USDT
- Settlement Origin: USDT
- Nodes unit: 1 NEO
- Hash Volume: 0.001
- Minimum Lot (Quantity): 0.01
- Max Contract Quantity (Quantity): 100,000
- Primary prime margin rate: 2.00%
- Maintenance Margin Rate: 1.00%
- Liquidation fee: 0.5%
The other 21 perpetual contracts offered by the Binance futures platform are each of the following pairs:
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BTC/USDT, ETH/USDT, BCH/USDT, XRP/USDT, EOS/USDT, LTC/USDT, TRX/USDT, ETC/USDT LINK/USDT, XLM/USDT, ADA/USDT, XMR/USDT, DASH/USDT and ZEC/USDT, XTZ/USDT, ATOM/USDT, BNB/USDT, ONT/USDT, IOTA/USDT, BAT/USDT, VET/USDT.
Read also:
What are bitcoin futures contracts? Guide for beginners
Explanation of Bitcoin futures and the most important terms of the Binance Futures platform
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