The world's largest cryptocurrency exchange Binance is listing new trading pairs for futures on 2 altcoins.
In a statement released by Binance on June 16, it was announced that they will launch margin futures for Aave (AAVE) and Uniswap (UNI) with a maximum leverage of 75x using USD Coin (USDC). These assets already have futures trading on the exchange with different margins.
According to the announcement made by Binance, the AAVEUSDC contract will be opened for trading on June 16 at 11:30 AM (UTC), while the UNIUSDC contract will open at 11:45 AM on the same day with a 15-minute interval.
Binance stated that the funding rate for the AAVEUSDC trading pair may initially vary between a maximum of -0.75% and +0.75%, while for the UNIUSDC trading pair it may vary between a maximum of -0.45% and +0.45%, and that funding fees will be updated every eight hours.
It was stated that users can trade in these contracts using different collateral assets through the multi-asset mode. For example, users will be able to trade in these contracts using cryptocurrencies such as Bitcoin (BTC) as collateral.
Binance stated that it may change the terms of futures contracts, such as funding fees, price steps, maximum leverage, initial margin, and maintenance margin requirements, depending on market conditions.
Stay tuned for new developments.