Leading cryptocurrency derivatives exchange Binance Futures has announced that it has launched a new perpetual contract for Bancor Network's native token, BNT.
Cryptocurrency Exchange Binance Lists BNT in Futures
The BNTUSDT perpetual contract will go live on August 10, 2023 at 15:00, allowing traders to leverage up to 20x.
Bancor Network is a decentralized liquidity protocol that allows users to exchange tokens without middlemen or slippage.
BNT is used to stake liquidity pools and earn fees from swaps. BNT also has a unique feature called “non-permanent loss protection” that compensates liquidity providers for the opportunity cost of keeping tokens in a pool.
The BNTUSDT perpetual contract is a linear contract that is quoted and settled in USDT, the most widely used stablecoin in the crypto market.
Unlike traditional futures contracts, perpetual contracts have no expiration date and can be held indefinitely.
Perpetual contracts also have a funding mechanism that ensures that the price of the contract is close to the spot price of the underlying asset.
The BNTUSDT perpetual contract is subject to the terms of the Binance Terms of Use and Binance Futures Service Agreement.
Users are advised to carefully read the contract specifications before trading.
Binance Futures reserves the right to adjust contract specifications based on market risk conditions such as tick size, maximum leverage, initial margin or maintenance margin requirements.
*Not investment advice.