Binance, one of the leading cryptocurrency exchanges, has made important announcements that will affect the trading experience of its users with a recent development. The exchange has launched USDC-based perpetual contracts with several major cryptocurrencies and network upgrades for select tokens. Here’s a closer look at the details.
Binance introduces USDC-based perpetual futures contracts
On January 11, Binance officially launched BTCUSDC, ETHUSDC, BNBUSDC, SOLUSDC, and XRPUSDC U-based perpetual contracts. Investors now have the opportunity to leverage these contracts up to a maximum of 125x. To encourage participation, Binance Contract is offering a 10% trading fee discount for all USDC-based contract transactions before 20:30 on April 3, 2024.
Additionally, between January 8, 2024 and January 22, 2024, qualified users can deposit USDC into the contract wallet and participate in trading USDC margin perpetual contracts. Users will have the chance to win a total of 170,000 USDC in staking rewards during this promotional period.
Changes in the Injective network
Starting approximately January 11, 2024 at 16:00 UTC, Binance will temporarily suspend token deposits and withdrawals on the Injective (INJ) network. This move supports a network upgrade aimed at improving the overall user experience. The upgrade is planned to take place around 11.01.2024 at 17:00 at block height 57,076,000. More importantly, token trading on the Injective network will not be affected during this period. Binance will handle all technical requirements on behalf of its users. Once the network upgrade is deemed stable, deposits and withdrawals for tokens on the Injective network will be reopened without any additional announcement.
Tranchess integration completed
In another update, Binance successfully integrated Tranches (CHESS) into the Ethereum (ERC20) network. As a result, deposits and withdrawals of CHESS tokens are now open on the Binance platform. Users can find their assigned token deposit address and smart contract address for CHESS on the Ethereum network through the links provided. This integration further expands the range of tokens that can be traded on the Binance exchange.
These latest developments demonstrate Binance’s commitment to providing its users with a diverse and seamless trading experience. Traders and investors are encouraged to stay informed of further announcements and take advantage of new opportunities presented by the introduction of USDC-based perpetual contracts.
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