The world's largest cryptocurrency exchange #Binance has announced the addition of a new altcoin to its cryptocurrency trading platform.
According to the agreement made by Binance on Friday, May 23, the exchange continues to trade Tether (USDT) margined perpetual futures contracts for #Soon (SOON) with a maximum leverage of 50x.
The SOONUSDT contract will open for trading at 08:30 (UTC). The SOON project offers the SOON Stack solution, which is offered on a high-performance SVM rollup that showcases Solana's (SOL) trading range and user experience everywhere.
Binance stated that the funding rates initially increase between -%2.00 and +%2.00 and will be updated every 4 matches. However, it was emphasized that changes in funding rates, maximum leverage rate and transaction limits may be made depending on market conditions.
Binance also announced the Multi-Asset Mode feature of the futures contracts in question. Thanks to this feature, users will be able to trade with different collateral assets such as Bitcoin in the contracts.
Binance stated that the conversion of the SOONUSDT contract to the standard perpetual futures transaction will be realized by listing the relevant asset of the spot abundance and that this conversion will not be announced separately. It was also underlined that the current price will be updated every second according to the last 10-second transaction rates during the pre-market transaction period.