75x Leverage on COOKIE, ALCH, SWARMS

Binance Futures will launch three new USD margin perpetual contracts with up to 75x leverage allowed to traders on COOKIEUSDT, ALCHUSDT, and SWARMSUSDT.

The contracts provide traders with up to 75x leverage, providing more trading opportunities for users who enjoy high-risk, high-return transactions. The launch schedule shows that COOKIEUSDT will begin trading at 11:30 UTC, followed by ALCHUSDT 15 minutes later, and finally SWARMUSDT at 12:15 UTC. The contracts are set to be based on projects currently listed on Binance’s Alpha Market: Cookie DAO (COOKIE), Alchemist AI (ALCH), and Swarms (SWARMS), respectively.

The contracts will use Tether (USDT), which can be traded 24/7, as exchange assets. Contracts will now also feature Multi-Asset Mode enabled by Binance, which will allow users to use different alternative assets such as BTC as margin, giving investors flexibility. The funding rate of these contracts may increase or decrease by a maximum of 2.00%. These funding rates are determined every four hours. The minimum movement increments for COOKIE and FLOCKS are 0.0001, and for ALCH they are 0.00001. Binance also stated that it may change these parameters depending on the market situation to handle risks more effectively.

Perpetual contracts are suitable for day traders who lobby against the price movements of such tokens without holding any underlying assets. However, Binance stated that the launch of futures contracts does not mean that the token will be listed on Binance’s spot market futures contracts.

For transparency, the platform also provided verified contact addresses:

COOKIE (0xc0041ef357b183448b235a8ea73ce4e4ec8c265f) ALCH (HNg5PYJmtqcmzXrv6S9zP1CDKk5BgDuyFBxbvNApump) and SWARM (74SBV4zDXxTRgv1pEMoECskKBkZHc2yGPnc7GYVepump).

Contracts have not yet been launched and investors must read the original Binance Terms of Use and Futures Service Agreement before trading. Binance also noted that these are high-risk instruments, which could mean changes to leverage, margin requirements, and funding fees as needed.

Binance Futures is a crypto derivatives trading platform from Binance that allows users to trade contracts that are predicted based on the actual cryptocurrency price, without owning the actual cryptocurrency. It allows high leverage, different types of contracts, and many advanced trading features such as hedging and cross margin.