Binance Futures has announced the launch of a new DOGSUSD COIN-M Perpetual Contract on September 10, 2024, at 10:00 UTC. This contract will allow traders to leverage up to 20x on DOGS tokens, with settlement in DOGS itself, a notable aspect for those speculating on its value.
As per the announcement, key details include a tick size of 0.0000001 and capped funding rates designed to control volatility by clamping between -0.75 and 0.75 times the maintenance margin ratio. Funding fees will be settled every eight hours.
As this contract is settled in DOGS, it aligns with Binance’s continued support of innovative token offerings in the crypto derivatives space. However, the Multi-Assets Mode is not supported for this particular contract, limiting cross-margining with other assets.
Binance also emphasizes that this new futures contract will follow the platform’s standard terms and agreements. The DOGS token has gained attention recently, and the new contract may attract traders looking to capitalize on its price movements through futures trading.
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