Key Points
- Binance Futures launched BSWUSDT Perpetual Contract today.
- Ahead of listing, BSW price spiked and it’s now up by 8% today.
In an official announcement, Binance revealed the launch of BSWUSDT Perpetual Contract on Binance Futures earlier today, with up to 75x leverage.
Binance Futures has been launching Perpetual Contracts at a faster pace than ever in an effort to expand the list of trading choices offered by the platform and enhance users’ trading experience.
BSWUSDT Perpetual Contract Details
Here are the official details about the launch of BSW Perpetual Contract on Binance Futures:
- Launch time was at 6:00 (UTC) today.
- The underlying asset is Biswap (BSW).
- The settlement asset is USDT.
- The tick size is 0.00001.
- The capped funding rate is +2%/-2%.
- The funding fee settlement frequency is every four hours starting at 08:00 (UTC) today.
- Trading hours are 24/7.
- Multi-Asset Mode is supported.
According to the official announcement, Binance may adjust the specifications of the futures contract mentioned above from time to time. The specifications subject to potential adjustments include the following:
- Funding fee
- Tick size
- Maximum leverage
- Initial margin
- Maintenance margin requirements
The Multi-Asset Mode allows users to trade the BSWUSDT Perpetual Contract across multiple margin assets. For instance, when the Multi-Asset Mode is activated, users can use BTC as margin when trading the futures contract mentioned above.
The Perpetual Contract is subject to the Binance Terms of Use and the Binance Futures Service.
What is Biswap (BSW)?
Biswap (BSW) is a decentralized exchange for BEP-20 tokens on Binance Smart Chain (BSC). Biswap team promises the lowest transaction fees of any BCS exchange at 0.1% and vows to be committed to innovation for DeFi via its high-quality products and services.
Its referral system allows users to invite others and receive referral fees from farms, launch pools, swaps, and a lottery.
Biswap’s core products include the following:
- Standard DEX functions: AMM, liquidity pools, yield farming
- A NFT marketplace
- An IDO launchpad
Biswap’s roadmap includes the following:
- Listing on major exchanges
- Improvements in its NFT marketplace
- Cross-chain support
- Limit orders
- Lending and borrowing
- Personal user dashboard
- Swap referral program
Just ahead of the listing of BSW Perpetual Contract by Binance Futures, BSW token surged significantly. Earlier, the coin’s price spiked at $0.09 and it’s now trading at $0.08, up by 8%.
At the moment, BSW has a total market cap of over $42 million.
