Binance has announced the addition of Dymension (DYM) to its Margin and Futures sectors, thereby granting traders more options in their crypto strategies. This extension is scheduled to take effect at 07:00 UTC on February 7, 2024.
Margin trading enables users to borrow funds to perform trading actions and potentially realize higher profits, and Binance is introducing DYM as a new borrowable asset in its Cross and Isolated Margin trading. The pairing DYM/USDT will also be available on these platforms starting from the launch date.
Binance Futures is set to launch the USDⓈ-M DYM Perpetual Contract, with a maximum leverage of up to 50x. This tool will be available for trading 24/7 and will also support Binance's Multi-Assets Mode, offering traders the chance to use multiple margin assets, including BTC, for the DYMUSDT Perpetual Contract.
It's important to note that the maximum funding rate of the DYMUSDT Perpetual Contract is set at +2.00% / -2.00% at launch. Additionally, the funding fee settlement occurs every four hours.
Qualified USDⓢ-margined futures liquidity providers will be eligible for a 0.005% maker fee rebate on DYMUSDT Perpetual Contract trades for approximately 14 to 15 days.
