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- Binance is welcoming the Solana-based meme coin BOOK OF MEME (BOME).
- The alternate launched a USD margin perpetual contract with as much as 50x leverage for BOME.
- Binance’s determination comes amid BOME hovering by over 1,198.68% in seven days.
Essentially the most distinguished crypto buying and selling platform, Binance, has introduced plans to record the fast-growing Solana-based meme coin BOOK OF MEME (BOME) amid current explosive rallies. Binance communicated this transfer through its official web site early immediately, noting the BOME token might be welcomed within the Binance Futures Market.
Particularly, Binance will launch a USD margin perpetual contract for the BOME token immediately by 12:30 (UTC), with as much as 50x leverage. The announcement famous that the transfer to welcome BOME was “to develop the record of buying and selling selections supplied on Binance Futures and improve customers’ buying and selling expertise.”
In the meantime, Binance’s determination comes amid BOME’s current rocket launch, which noticed its worth rise by over 170.95% within the final 24 hours. On a seven-day scale, BOME has surged by a staggering 1,198.68%, placing its worth at $0.01183.
Notably, the Binance BOMEUSDT contract will settle with USDT, that includes a tick dimension of 0.000001 and a capped funding fee of +2.00% / -2.00%. Funding price settlements will happen each 4 hours. Moreover, with buying and selling out there 24/7, merchants can leverage as much as 50x, supporting multi-assets mode.
Moreover, Binance introduced that eligible USD-margined futures liquidity suppliers can obtain 0.005% maker price rebates for trades on the BOMEUSDT Perpetual Contract for about 14 to fifteen days.
In the meantime, Binance acknowledged it may regulate the specs of the BOMEUSDT Perpetual Contract primarily based on market threat circumstances. This is applicable to the funding price, tick dimension, most leverage, preliminary margin, and/or upkeep margin necessities.
Notably, Binance customers can commerce the BOMEUSDT Perpetual Contract throughout a number of margin property with relevant haircuts. As an illustration, when the Multi-Property Mode is energetic, customers can make the most of BTC as a margin when buying and selling the BOMEUSDT Perpetual Contract.
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