Binance Drops Bombshell, Broadcasts Delisting of Cardano and Polygon

• Binance Futures announce plans to delist Cardano and Polygon perpetual contracts from August 17, 2023.
• The platform additionally introduced changes to the leverage and margin tiers of ADABUSD and MATICBUSD perpetual contracts from August 10, 2023.
• Customers are urged to proactively make vital changes to keep away from automated settlements.

Binance the world’s largest crypto trade is bringing important modifications to its Binance Futures buying and selling platform. In a latest announcement to its ‘Binancians,’ Binance Futures introduced their plans to delist Cardano (ADA) and Polygon (MATIC) perpetual contracts on their platform. Because of this customers will be unable to commerce these contracts on Binance efficient subsequent week, August 17, 2023, exactly at 09:00 (UTC).

Though at this stage, Binance’s choice to delist stays unclear, it clarifies that it’ll robotically shut and settle all at the moment lively buying and selling positions for ADABUSD and MATICBUSD perpetual contracts. As soon as the settlement is full, the platform will proceed to take away these contracts from buying and selling.

Furthermore, the platform provides that it’ll modify the leverage and margin tiers of each ADABUSD and MATICBUSD perpetual contracts from right this moment, August 10, 2023, at 12:30 (UTC) as per updates on its official web site.

Furthermore, beginning right this moment, August 10, 2023, at 12:30 (UTC), Binance Futures will herald modifications to the leverage and margin tiers of each ADABUSD and MATICBUSD perpetual contracts. Seemingly, customers with present positions, previous to the latest modifications might be straight impacted.

Based mostly on the above announcement, customers are urged to make any and all vital modifications on the soonest to keep away from automated settlement on Binance Futures. Moreover, customers may also not be permitted to open new positions for the stated contracts beginning August 17, 2023, at 08:30 (UTC).

Binance Futures is a buying and selling platform by Binance that enables its customers to commerce quarterly and perpetual futures contracts. Whereas quarterly contracts expire after three months, perpetual contracts don’t have an expiration date.