Binance Futures is set to launch a new USDⓈ-M perpetual contract for BEAMX on November 17, 2023, at 13:30 (UTC). Traders will be afforded the advantage of leveraging their positions up to 50 times.
The pivotal details of the USDⓈ-M BEAMX Perpetual Contract are stated below:
• Underlying Asset: BEAM
• Settlement Asset: USDT
• Tick Size: 0.000001
• Capped Funding Rate: +2.00% / -2.00%
• Funding Fee Settlement Frequency: Every Four Hours
• Maximum Leverage: 50x
• Trading Hours: 24/7
• Multi-Assets Mode: Supported
It is important to denote that the on-platform ticker 'BEAMX' represents 'Beam' on Binance, which may differ from the on-chain display. The BEAMX/USDT perpetual contract's maximum funding rate on inception stands at +2.00% / -2.00%, and the funding fee would be settled every four hours.
Binance reserves the right to tweak the parameters of the BEAMX/USDT Perpetual Contract depending on the prevailing market risk conditions which include changes to the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements.
Under the Multi-Assets Mode, users would be able to use multiple margin assets to trade the BEAMX/USDT Perpetual Contract, subject to the appropriate haircuts. For instance, with the Multi-Assets Mode enabled, users could utilize BTC as margin while trading the BEAMX/USDT Perpetual Contract.
