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Cryptocurrency exchange Binance has announced the launch of a new product on its futures platform. According to the announcement, Binance Futures today launched the USDⓈ-Margin ROBOUSDT perpetual futures contract. The new contract will offer investors leverage of up to 20x.
The underlying asset of the ROBOUSDT contract will be the $ROBO token, part of the Fabric Protocol ecosystem. The Fabric Foundation, behind the project, aims to build a secure, open, and globally beneficial future in artificial intelligence and robotics.
The settlement asset for the contract will be $USDT, with a minimum transaction amount of 1 $ROBO and a minimum denomination of 5 $USDT.
The price increment (tick size) is stated as 0.00001, while the upper and lower limits of the funding rate will be between +2.00% and -2.00%. Funding payments will occur every four hours. Transactions will continue 24/7, and Multi-Assets Mode will be supported.
Binance stated that it may make changes to contract features such as funding rate, maximum leverage, margin requirements, and price increment depending on market conditions. Additionally, the ROBOUSDT contract is planned to be integrated into the Futures Copy Trading system within 24 hours of its launch.
*This is not investment advice.