KEY TAKEAWAYS
- Binance Futures is launching the CGPT/USDT Perpetual Contract on December 20, 2024, allowing traders to leverage up to 75x.
- This new contract highlights the growing significance of the ChainGPT token within the cryptocurrency ecosystem.
- The contract supports Multi-Assets Mode, enabling the use of various margin assets like BTC for trading.
- Perpetual contracts offer flexibility by eliminating expiration dates, appealing to traders seeking diverse market engagement.
Binance Futures has announced the launch of the CGPT/USDT Perpetual Contract, set to go live on December 20, 2024, at 19:15 UTC. This new offering allows traders to leverage up to 75x and trade the CGPT/USDT pair around the clock, with USDT serving as the settlement asset.
The introduction of the CGPT/USDT contract marks a significant development for the ChainGPT token, highlighting its expanding role within the cryptocurrency ecosystem. According to Binance’s announcement, the contract will support Multi-Assets Mode, enabling traders to use various margin assets, such as BTC, to engage in CGPT/USDT trading.
The funding rate for this contract is capped at ±2.00%, with settlements occurring every four hours. This structure is designed to maintain a predictable trading environment for participants.
Understanding Perpetual Contracts
Futures contracts are agreements to buy or sell an asset at a predetermined price at a specific future date. Perpetual contracts, like the CGPT/USDT offering, extend this concept by eliminating the expiration date. This feature allows traders to engage with market movements across various timeframes, making perpetual contracts a popular choice among traders.
ChainGPT’s Perspective
Ilan Rakhmanov, Founder of ChainGPT and CEO of ChainGPT Software, commented on the listing, stating, “The listing of CGPT/USDT on Binance Futures is a testament to the token’s utility and importance in the Web3 space. It offers our community another dynamic way to engage with CGPT while showcasing its role in the expanding ChainGPT ecosystem.”
Traders interested in the CGPT/USDT perpetual contract can access it starting on December 20. For more details on Binance Futures trading rules and margin requirements, visit Binance’s official support pages. The full announcement can be found here.
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