Key Points
- Binance Futures launches ALPACAUSDT Perpetual Contract later today.
- The Perpetual Contract will have up to 75x leverage.
In an official announcement, Binance revealed that to expand the list of trading choices offered by Binance Futures and boost users’ trading experience, the platform will launch the ALPACAUSDT Perpetual Contract today.
The launch will take place at 10:30 (UTC) and the Perpetual Contract will have up to 75x leverage.
Details About ALPACAUSDT Perpetual Contract
- The underlying asset is Alpaca Finance (ALPACA).
- 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.
- Maximum leverage is 75x.
- The multi-asset mode is supported.
The funding fee settlement frequency is every four hours starting at 12:00 (UTC), August 22, until 00:00 (UTC), August 23.
Other important details that Binance revealed in their official announcement state that based on market risk conditions, the exchange may adjust the specifications of the Futures contract mentioned above from time to time.
These specifications include the following:
- Funding fee
- Tick size
- Maximum leverage
- Initial Margin
- Maintenance margin requirements
Also, Binance noted that the Multi-Asset Mode allows users to trade the ALPACAUSDT contract across multiple margin assets. For instance, when the Multi-Asset Moded is activated, users can use Bitcoin (BTC) as a margin when trading the Perpetual Contract mentioned above.
Also, the Perpetual Contract is subject to the Binance Terms of Use and the Binance Futures Service Agreement.
What is Alpaca Finance (ALPACA)?
Alpaca Finance is a lending protocol in the DeFi sector, mainly focusing on leveraged yield farming. This operates on the BNB Chain and Fantom, offering a platform where users can engage in yield farming with leverage.
This means that users can borrow funds to increase their investment in yield farming, which can potentially boost their returns.
The ALPACA token is used for governance, staking, and earning rewards within the platform.
