Binance Futures Launches SONIC Perpetual Contracts with Up to 75x Leverage

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Binance Launches SONICUSDT Perpetual Contracts and FTM to Sonic Token Migration

Binance announced that it will launch SONICUSDT perpetual contracts on January 8, 2025 at 15:00 (GMT+8), providing cryptocurrency traders with up to 75x leverage. These perpetual contracts will be settled in USDT every four hours, with a funding rate capped at ±2.00%. The launch coincides with the transition upgrade of the Fantom (FTM) network, namely the migration of Fantom to Sonic (S) tokens, and provides traders in the futures market with a new way to trade.

Features of SONICUSDT Perpetual Contracts

Leverage: Up to 75x leverage is supported, suitable for users who want to amplify trading returns through high leverage.

Settlement cycle: Settlement every four hours to ensure that traders can manage their positions more flexibly.

Funding rate: Fluctuates between -2.00% and +2.00%, and the upper and lower limits of the funding rate can be adjusted according to market fluctuations.

Margin requirements: Compatible with Binance's multi-asset margin model, supporting the use of USDT and other assets (such as Bitcoin) as margin.

These perpetual contracts have no expiration date, making them very suitable for trading around the clock and providing users with great flexibility. However, it is worth noting that SONICUSDT perpetual contracts are not guaranteed to be listed on the Binance spot market. These contracts are significantly different from spot trading, and the relevant parameters (including leverage, margin, etc.) will be adjusted according to market conditions.

Migration plan from FTM to Sonic tokens

With the launch of the Sonic (S) token, Binance announced that the FTM trading pair will be delisted on January 13, 2025. To ensure the rights and interests of FTM holders, Binance will provide a 1:1 token swap, that is, FTM holders can seamlessly convert their FTM tokens to Sonic (S) tokens. This migration process will be fully automated, and users can complete the token conversion without manual operation.

In addition, S token trading will be officially launched on January 16, 2025, and Binance will launch new trading pairs, including S/USDT, S/BTC and S/BNB.

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