Binance aims to provide its users with diversified cryptocurrency auditing and expanded trading options. FIO Protocol (FIO) asset-based FIOUSDT perpetual futures contract announced that it will open for trading today at 15:30 GMT. This new futures contract will allow investors to use leverage up to 75 times and will be calculated in USDT. The futures contract attracts attention with its high leverage ratio and flexible transaction features.
Details of the New FIOUSDT Futures Contract
Binance The FIOUSDT perpetual futures contract, which will be launched today by FIO, is a USDⓈ-M perpetual futures contract based on FIO. This contract will allow investors to trade with USDT, while also offering leverage of up to 75 times. The FIOUSDT contract is designed for investors to use various trading strategies and will be available for trading 24/7.
The contract’s key features include funding fees calculated every four hours and a maximum funding rate of +/- 2.00 percent. In addition, the minimum price movement to be traded, or “tick size,” has been set at 0.00001. All of these will enable investors to position themselves more effectively against price fluctuations.
Offered by Binance Multi-Assets mode feature offers traders the opportunity to trade with different collateral assets. When this mode is activated, users can use other assets such as BTC as collateral in the FIOUSDT contract. However, this trading option is subject to certain collateral haircuts. For example, when users use BTC as collateral, a certain percentage of this asset is deducted from the transaction.
Binance, depending on market risk conditions FIOUSDT contractIt added that it may change its funding fee, tick size, maximum leverage, initial margin and/or maintenance margin requirements from time to time.
FIO’s Price Soars
On the other hand, after Binance’s announcement, the price of FIO literally skyrocketed. Altcoin Within minutes, it rose by over 70 percent to $0.046. Its volume also increased rapidly along with the price, reaching over $12 million, an increase of over 563 percent.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
