Binance to Delist and Update Leverage & Margin Tiers of Five Cryptocurrencies

Upcoming Changes to Binance Futures

In a current announcement, Binance has revealed that it’s going to delist and replace the leverage & margin tiers of 5 COIN-M perpetual contracts. Binance Futures will shut all positions and conduct an computerized settlement on the COIN-M KNCUSD, ICXUSD and XTZUSD contracts at 2024-05-20 09:00 (UTC), and ROSEUSD and APEUSD COIN-M perpetual contracts at 2024-05-21 09:00 (UTC). The contracts shall be delisted following the conclusion of the settlement course of.

Adjustments to Leverage and Margin Tiers

Binance Futures has additionally adjusted the leverage and margin tiers of the COIN-M KNCUSD, ICXUSD, XTZUSD, ROSEUSD and APEUSD perpetual contracts at 2024-05-10 10:30 (UTC). Existing positions opened earlier than the replace shall be affected, and customers are strongly suggested to regulate their positions and leverage earlier than the adjustment to keep away from potential liquidation.

Important Considerations for Users

Users are urged to shut any open positions prior to the delisting time to keep away from computerized settlement. Additionally, customers won’t be able to open new positions for the aforementioned contracts from the next dates: 2024-05-20 08:30 (UTC) for KNCUSD, ICXUSD and XTZUSD COIN-M perpetual contracts, and 2024-05-21 08:30 (UTC) for ROSEUSD and APEUSD COIN-M perpetual contracts.

Additional Protective Measures

Binance Futures might implement further protecting measures towards the contracts with out additional announcement to defend customers and forestall potential dangers in extraordinarily unstable market circumstances. These measures might embody adjusting the utmost leverage worth, place worth, and upkeep margin in every margin tier, updating funding charges such because the rate of interest, premium and capped funding charge, altering the constituents of the value index, and utilizing the Last Price Protected mechanism to replace the Mark Price.

Post-Settlement Procedures

Following the settlement, all KNC, ICX, XTZ, ROSE and APE optimistic balances in CM Wallets beneath the Portfolio Margin account shall be routinely transferred to Cross Margin Wallet. For customers with no Portfolio Margin account, the balances shall be transferred to Spot Wallet. Negative balances will endure an auto-repayment course of, and the conversion might take roughly 24 hours or longer.

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