EnglishFellow Binancians,
Binance Futures will conduct an automatic settlement on the CVCUSDT Perpetual Futures Contract at 2022-11-29 09:00 (UTC), and delist this contract after the settlement is complete.
In addition, Binance Futures will adjust the leverage and margin tiers of the CVCUSDT Perpetual Futures Contract at 2022-11-28 09:00 (UTC), as reflected in the table below. Existing positions opened before the update will be affected. It is strongly advised to adjust the position and leverage prior to the adjustment in order to avoid any potential liquidation.
Updates to Leverage & Margin Tiers:
- CVCUSDT (USDⓈ-M Perpetual Contracts)
Previous Leverage and Margin Tiers | New Leverage and Margin Tiers | ||||
Leverage | Position Before Change (Notional Value in USDT) | Maintenance Margin Rate (Before Change) | Leverage After Change | Position After Change (Notional Value in USDT) | Maintenance Margin Rate (After Change) |
11 - 20x | 0 < Position ≤ 5,000 | 1.00% | NA | ||
9 - 10x | 5,000 < Position ≤ 25,000 | 2.50% | 9 - 10x | 0 < Position ≤ 25,000 | 2.50% |
6 - 8x | 25,000 < Position ≤ 100,000 | 5.00% | 6 - 8x | 25,000 < Position ≤ 100,000 | 5.00% |
3 - 5x | 100,000 < Position ≤ 250,000 | 10.00% | 3 - 5x | 100,000 < Position ≤ 250,000 | 10.00% |
2x | 250,000 < Position ≤ 1,000,000 | 12.50% | 2x | 250,000 < Position ≤ 1,000,000 | 12.50% |
1x | 1,000,000 < Position ≤ 2,000,000 | 50.00% | 1x | 1,000,000 < Position ≤ 2,000,000 | 50.00% |
Please Note:
- Users are advised to close any open positions prior to the delisting time to avoid automatic settlement.
- It is important to note that the maintenance margin change will directly affect the liquidation price. Users who hold existing positions of the CVCUSDT Perpetual Futures Contract will be affected. To avoid being liquidated (i.e. margin ratio hits 100%), please add more margin to your USDⓈ-M Futures account or reduce your positions. It is recommended to control the margin ratio below 80%.
- Maintenance margin rate change will affect the funding rate of the CVCUSDT Perpetual Futures Contract. Capped Funding Rate = clamp (Funding Rate, -1 * Maintenance Margin Ratio, 1 * Maintenance Margin Ratio). For more details on funding rate, please refer to Introduction to Binance Futures Funding Rates.
- In order to protect our customers and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the CVCUSDT Perpetual Futures Contract without further announcement, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates such as the interest rate, premium and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price.
For more information:
- Delisting of Futures Contracts
- Trading Rules of USDⓈ-M Futures Contracts
- Leverage and Margin of USDⓈ-M Futures Contracts
- Price Index
Thanks for your support!
Binance Team
2022-11-28
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Binance reserves the right in its sole discretion to amend or change or cancel the products referred to in this announcement at any time and for any reasons without prior notice.
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