In a significant move, Binance Futures announced that it will delist and update the leverage and margin tiers of the COIN-M KNCUSD, ICXUSD, XTZUSD, ROSEUSD and APEUSD perpetual contracts.
Binance Futures to Delist and Update Leverage and Margin Tiers of Certain COIN-M Perpetual Contracts
Binance Futures will close all positions and perform automatic settlement on COIN-M perpetual contracts on COIN-M KNCUSD, ICXUSD and XTZUSD at 12:00 AM on May 20, 2024.
ROSEUSD and APEUSD COIN-M perpetual contracts will perform the same transaction at 12:00 on May 21, 2024. Once the settlement is completed, the contracts will be removed from the list.
In addition, Binance Futures will adjust the leverage and margin levels of the above-mentioned contracts at 13:30 on May 10, 2024.
Existing positions opened before the update will be affected. Users are strongly advised to adjust their positions and leverage before adjusting to avoid possible liquidation.
In order to protect users and prevent possible risks in extremely volatile market conditions, Binance Futures may take additional protective measures for the above-mentioned contracts without further announcement.
These measures include adjusting the maximum leverage value, position value, and maintenance margin at each collateral tier, updating funding rates such as the interest rate, premium, and capped funding rate, changing the components of the price index, and using the Last Price Protected mechanism to update the Mark Price.
*This is not investment advice.