Fellow Binancians,
Binance Futures will close all positions and conduct an automatic settlement on the COIN-M KNCUSD, ICXUSD and XTZUSD COIN-M perpetual contracts at 2024-05-20 09:00 (UTC), and ROSEUSD and APEUSD COIN-M perpetual contracts at 2024-05-21 09:00 (UTC). The contracts will be delisted after the settlement is complete.
In addition, Binance Futures will adjust the leverage and margin tiers of the COIN-M KNCUSD, ICXUSD, XTZUSD, ROSEUSD and APEUSD perpetual contracts at 2024-05-10 10:30 (UTC), as per the tables 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:
Please Note:
Users are advised to close any open positions prior to the delisting time to avoid automatic settlement.
Users are not allowed to open new positions for the aforementioned contracts starting from the following dates:
2024-05-20 08:30 (UTC): KNCUSD, ICXUSD and XTZUSD COIN-M perpetual contracts
2024-05-21 08:30 (UTC): ROSEUSD and APEUSD COIN-M perpetual contracts
In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the aforementioned contracts 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.
All KNC, ICX, XTZ, ROSE and APE positive balances in CM Wallets under the Portfolio Margin account will be automatically transferred to Cross Margin Wallet after the settlement is complete. For those who do not have a Portfolio Margin account, the balances in CM Wallets will be transferred to Spot Wallet.
All KNC, ICX, XTZ, ROSE and APE negative balances in CM Wallets under the Portfolio Margin account will conduct an auto-repayment process after the settlement is complete. The conversion may take approximately 24 hours or longer. Binance will not be liable for any losses on new positions during this period that may incur as a result of the conversion of funds. Refer to this FAQ for more information.
There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
For More Information:
Thank you for your support!
Binance Team
2024-05-10
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Disclaimer: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Futures trading, in particular, is subject to high market risk and price volatility. You may be called upon at short notice to make additional margin deposits or interest payments. If the required margin deposits or interest payments are not made within the prescribed time, your collateral may be liquidated without your consent. Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account. All of your margin balance may be liquidated in the event of adverse price movement. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use and Risk Warning.
