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Binance Futures continues to expand its range of derivatives products offered to users. According to a statement from the exchange, it will launch the USDⓈ-Margin RAVEUSDT Perpetual Futures Contract for RaveDAO (RAVE).
The new contract will be available on the Binance Futures platform starting at 6:30 PM and will offer investors leverage of up to 40x.
Binance stated that this step aims to improve the user trading experience and increase risk management and strategy options for different projects.
The RAVEUSDT perpetual futures contract will use USDT as the settlement currency. The minimum price increment for the contract is set at 0.00001, while the upper and lower limits for the funding rate are +2% / -2%. Funding fees will be collected every four hours.
The contract will be available for trading 24 hours a day, seven days a week. Binance's multi-asset mode will also be supported, allowing users to open positions using different collateral assets.
RaveDAO, the organization behind the RAVE token, describes itself as a global community aiming to bring together music, technology, and social causes. The project stands out for its structure that aims to combine the creative economy with blockchain technology.
Binance, as usual, emphasized that all technical processes will be handled by the platform, while warning investors that leveraged trading involves high risk. The new product is expected to increase interest in the RAVE ecosystem and market liquidity.
*This is not investment advice.