Binance Futures to List USDS-M USTC Perpetual Contract
Binance Futures is set to launch the USDS-M USTC perpetual contract with 50x leverage on November 27th. This derivative contract allows traders to speculate on the future price of USTC stablecoin against USDS-M without an expiry date. It offers leveraged trading, presenting opportunities for profit or loss based on price movements.
Key Details of the Perpetual Contract
The maximum funding rate for the USTCUSDT perpetual contract at launch is +2.00% / -2.00%. The funding commission is calculated every four hours, and Binance reserves the right to adjust specifications like funding fees, tick size, maximum leverage, and margin requirements based on market risk conditions.
“Qualified USDS-margined futures liquidity providers will be eligible to enjoy 0.005% maker fee rebates for trades on the USTCUSDT Perpetual Contract for approximately 14 to 15 days.”
Binance blog
About USTC Stablecoin and Terra Classic
USTC is Terra Classic’s algorithmic stablecoin, previously known as UST. Following the Terra crash, it experienced a significant depegging. The Terra Classic community voted to end Terra Classic USD minting and aims to restore USTC’s original parity with the US dollar by burning a substantial number of LUNC tokens that were created during the collapse.
Hot Take: Binance Futures Expands its Offering with USDS-M USTC Perpetual Contract
Binance Futures is broadening its range of products by introducing the USDS-M USTC perpetual contract. This contract allows traders to capitalize on the price movements of USTC stablecoin against USDS-M, offering leverage and potential profit opportunities. With its adjustable specifications and maximum funding rate, Binance aims to cater to market risk conditions and provide a dynamic trading experience. Additionally, qualified liquidity providers can benefit from maker fee rebates for a limited period. This move by Binance Futures demonstrates its commitment to offering diverse and innovative trading options to its users.
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