Binance introduces new perpetual buying and selling choices whereas facilitating Fantom swaps to SONIC.
Binance Futures introduced SONICUSDT perpetual contracts on Jan. 8, 2025, at 15:00 (GMT+8), providing as much as 75x leverage. These contracts might be settled each 4 hours in USDT, with funding charges capped at ±2.00%. This launch coincides with the continued transition from Fantom (FTM) to Sonic (S) tokens, offering customers with a brand new technique to commerce Sonic SVM inside the Futures market.
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As a part of the FTM-to-Sonic migration, all FTM buying and selling pairs might be delisted on Jan. 13, 2025. Binance has introduced a 1:1 token swap, permitting FTM holders to seamlessly convert their tokens into S tokens.
On Jan. 16, 2025, buying and selling for the S token will formally start, that includes new pairs resembling S/USDT, S/BTC, and S/BNB. Binance has ensured that prospects can convert their FTM holdings to Sonic tokens mechanically with out handbook intervention.
SONICUSDT perpetual futures contracts are designed for around-the-clock buying and selling with no expiration date, providing merchants vital flexibility. Moreover, these contracts are appropriate with Binance’s multi-asset margin mannequin, which permits customers to make the most of belongings apart from USDT, resembling Bitcoin, to satisfy margin necessities.
It is very important be aware that the supply of SONICUSDT on Binance Futures doesn’t assure its itemizing on Binance Spot. Moreover, perpetual contracts are totally different from spot buying and selling. Key parameters, together with funding charges, leverage, and margin necessities, could also be topic to changes based mostly on market circumstances.
As S tokens substitute FTM, customers are inspired to familiarize themselves with the brand new ecosystem, which introduces options resembling an incentive program for builders and governance alternatives. The transition displays Binance’s ongoing efforts to align with evolving blockchain initiatives whereas providing numerous buying and selling choices for its customers.
For extra particulars on the SONICUSDT perpetual contracts and the FTM-to-Sonic migration, customers ought to consult with Binance’s official bulletins to make sure they continue to be knowledgeable in regards to the newest platform updates and necessities.
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