Binance Futures delists LTCBUSD and DOGEBUSD contracts, prompting automatic settlement, leverage adjustments, and protective measures while announcing other recent delistings.
Key Points
- Binance Futures delists USDⓈ-M LTCBUSD and DOGEBUSD Perpetual Contracts, triggering automatic settlement on August 24.
- Leverage and margin tiers adjusted on August 17; users advised to modify positions to prevent liquidation.
- Users recommended to close positions before delisting time and can’t open new positions after August 24.
- Binance may introduce protective measures; recent delistings include SNM, SRM, YFII, and margin pairs like EPX/BUSD.
Binance Futures, a cryptocurrency exchange platform, has recently announced the delisting of the USDⓈ-M LTCBUSD and DOGEBUSD Perpetual Contracts.
Warning for all #Dogecoin and #Litecoin users trading derivatives on Binance: Binance announced today that they will delist their #Doge/BUSD and #LTC/BUSD Perpetual Contracts on August 24th, 2023.
Users are urged to close any open positions related to these contracts before the… pic.twitter.com/U5G296hxsU
— Mishaboar (@mishaboar) August 17, 2023
Automatic Settlement and Delisting
All positions held on the USDⓈ-M LTCBUSD and DOGEBUSD Perpetual Contracts will undergo an automatic settlement on August 24, 2023, at 09:00 (UTC). Following this settlement, the contracts will be officially removed from the platform.
Prior to the delisting, Binance Futures will make adjustments to the leverage and margin tiers of these contracts on August 17, 2023, at 12:30 (UTC).
It is important for users to note that positions opened before this update will be affected. To avoid potential liquidation, users are strongly advised to adjust their positions and leverage settings accordingly.
Key Recommendations
Users are strongly urged to close any open positions related to these contracts before the specified delisting time to avoid the automatic settlement.
Additionally, starting from August 24, 2023, at 08:30 (UTC), users will not have the option to open new positions for the aforementioned contracts.
In the interest of user protection and to counteract potential risks in volatile market conditions, Binance Futures may introduce additional protective measures for these contracts without further notice.
These measures could include adjustments to various parameters such as leverage values, position values, and maintenance margins.
For users seeking more comprehensive details, Binance has provided resources on its platform, including specific information on the delisting of futures contracts, trading rules, and other related topics.
Concluding Thoughts
In addition to the delisting of USDⓈ-M LTCBUSD and DOGEBUSD Perpetual Contracts, Binance has made other recent delisting announcements:
On August 15, 2023, Binance announced the delisting of SNM, SRM, and YFII, effective from August 22, 2023.
Furthermore, on August 16, 2023, Binance Margin communicated its intention to delist the following cross margin and isolated margin pairs: EPX/BUSD, GAL/BUSD, GMX/BUSD, HIVE/BUSD, KLAY/BUSD, RAD/BUSD, and TVK/BUSD.
This change will take effect on August 24, 2023, at 06:00 (UTC).
