Leading cryptocurrency derivatives market Binance Futures has decided to remove several coins from its listing. Among them are the perpetual contracts for STPTUSDT, SNTUSDT, MBLUSDT, RADUSDT, and CVXUSDT that are USD⑈-M. This action results from the exchange’s continuous efforts to guarantee the effectiveness and integrity of its trading services. The delisting process will close all positions and initiate automatic settlement procedures.
Notably, each contract will have a different date for the automatic settlement and delisting. The STPTUSDT, SNTUSDT, and MBLUSDT contracts will conclude on May 13 at 09:00 (UTC), with the RADUSDT and CVXUSDT contracts following on May 14 at 09:00 (UTC). Once the settlement procedure completes, Binance Futures will remove these contracts from the platform, indicating the end of their trading availability.
Leverage and Adjustments to Margin
Binance Futures will change the leverage and margin tiers for the impacted perpetual contracts and delist sure of them. These changes will affect the positions already open when the update is released. They will come into effect on May 6 at 10:30 (UTC).
To reduce any possible liquidation risks, users are strongly advised to take proactive steps to modify their positions and leverage accordingly. To help consumers navigate these changes successfully, Binance Futures will include detailed tables in the announcement that outline the particular adjustments to leverage and margin tiers.
User Suggestions and Safety Procedures
Binance Futures prioritizes user safety and risk management, providing crucial advice and safety measures to its users. It advises users to proactively close any open positions related to delisted contracts before the designated delisting time. This precaution prevents automatic settlement, which may negatively impact traders. Additionally, users cannot create new positions for the impacted contracts as of specific dates.
More specifically, trading for STPTUSDT, SNTUSDT, and MBLUSDT contracts will be blocked starting at 08:30 (UTC) on May 13. Contracts for RADUSDT and CVXUSDT will also be blocked beginning at 08:30 (UTC) on May 14. Binance Futures reserves the right to implement additional protective measures, such as adjusting leverage limits, position values, and maintenance margins. They also update funding rates and price index constituents accordingly.
