Fellow Binancians,
Binance Futures will close all positions and conduct an automatic settlement on the USDⓈ-M SOLBUSD Perpetual Contract at 2023-08-28 09:00 (UTC). The contract will be delisted after the settlement is complete.
In addition, Binance Futures will adjust the leverage and margin tiers of the USDⓈ-M SOLBUSD Perpetual Contract at 2023-08-21 12:30 (UTC), as per 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:
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 contract starting from 2023-08-28 08:30 (UTC).
In order to protect users and prevent potential risks in extremely volatile market conditions, Binance Futures may undertake additional protective measures toward the USDⓈ-M SOLBUSD Perpetual 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.
Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
For More Information:
Thanks for your support!
Binance Team
2023-08-21
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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.
