- Binance Futures will commence the USDC Dogecoin pair on Thursday.
- The exchange offered a 10% discount on fees on all USDC-margined futures contracts.
- Using the Multi-Assets Mode, users can trade the DOGEUSDC perpetual contract across multiple margin assets.
Leading crypto trading platform Binance has moved to launch the USDC-margined Dogecoin (DOGE) Perpetual Contract with a 75-fold leverage limit. The platform communicated this development in a recent statement via an official blog, noting the move is to enrich the trading landscape and provide users with more diverse options.
Per the disclosure, Binance Futures will commence the USDC Dogecoin pair for perpetual contract starting Thursday, January 18, at 10:00 (UTC). This latest addition will allow users to trade DOGE with leverage of up to 75x, providing an opportunity for enhanced market exposure.
Furthermore, the exchange noted that the DOGEUSDC perpetual contract features a capped funding rate of +0.3750% / -0.3750%. It also has a funding fee settlement occurring every eight hours and a round-the-clock trading availability window.
Notably, to encourage user participation, Binance Futures offered a 10% promotional trading fee discount on all trades made on USDC-margined futures contracts. Reportedly, the promotion will be valid until April 3, 2024.
Besides, Binance mentioned that users can use the Multi-Assets Mode to trade the DOGEUSDC perpetual contract across multiple margin assets with applicable “haircuts.” This feature enables users to utilize assets like Bitcoin (BTC) as a margin when trading the specified perpetual contract.
In line with market risk conditions, Binance reserves the right to adjust the specifications of the DOGEUSDC Perpetual Contract. This includes potential adjustments to funding fees, tick size, maximum leverage, initial margin, and/or maintenance margin requirements.
Notably, the exchange unveiled a similar leveraged contract service for other tokens such as Cardano (ADA), Polygon (MATIC), and Avalanche (AVAX) last month. Specifically, Binance added ten stablecoin pairs, including ADA, MATIC, DOGE, and AVAX, to its cross and isolated Margin trading service.
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