Dear user:
Binance will remove the following leveraged trading pairs and stop trading at 19:30 on November 13, 2022 (Eastern Eighth District Time):
Cross-margin trading pairs: FTT/BUSD, FTT/USDT
Isolated margin trading pairs: FTT/BUSD, FTT/BTC, FTT/USDT
Binance Earn Money will remove FTT current products from the shelves at 12:30 on November 14, 2022 (Eastern Eighth District time).
Binance Liquidity Mining will delist the FTT/USDT, FTT/BUSD, FTT/BTC and FTT/BNB trading pairs at 12:30 on November 14, 2022 (Eastern District Time). If a user holds assets in the above mining pool, the system will automatically return the assets to the user's spot wallet at 12:30 on November 14, 2022 (East Eighth District time).
Binance Fixed Investment Plan will delist FTT at 12:30 on November 14, 2022 (Eastern Eighth District Time). For users who have subscribed for FTT fixed investment, their single-token fixed investment plan will be suspended and modifications will not be accepted. If the investment portfolio plan includes FTT, FTT will be automatically removed from the investment portfolio plan, and other parts will operate as usual.
Binance Futures will automatically liquidate FTTUSDT and FTTBUSD U-based perpetual contracts at 12:00 on November 14, 2022 (Eastern Eighth District time) and at 12:30 on November 14, 2022 (Eastern Eighth District time), respectively. The FTTUSDT and FTTBUSD U-margined perpetual contract trading pairs will be delisted after the liquidation is completed.
Notice:
It is recommended that users close their positions themselves before stopping trading to avoid automatic liquidation of positions.
Binance Earn Coin will automatically return the user's FTT current product position to the user's spot wallet.
In order to protect the rights and interests of users and reduce potential risks under extreme market conditions, Binance Futures may take additional protective measures for FTTUSDT and FTTBUSD U-based perpetual contracts without further announcement. Potential protection measures include, but are not limited to, adjusting leverage and margin (including the maximum leverage multiple at each level, position limits, and maintenance margin rates), adjusting funding rates (including base interest rates, premium indexes, and rate caps), and changing price index components. Or use the "latest transaction price protection mechanism" to update the mark price.
The Binance margin trading platform will automatically close and liquidate FTT cross/isolated margin positions at 19:30 on November 13, 2022 (Eastern Eighth District time), and cancel the user’s participation in the relevant cross/isolated margin trading pairs. All pending orders are placed on the platform and the relevant full and isolated margin trading pairs are delisted. Users are strongly advised to close their positions before stopping leveraged trading to avoid any potential losses.
Users of Binance unified accounts are recommended to transfer the above tokens from the margin account to the spot account and replenish the margin balance before 19:30 on November 13, 2022 (Eastern Eighth District time). Users should closely monitor the maintenance margin rate (Uni-MMR) of Uni-accounts to avoid any potential liquidations that may result from margin wallets no longer supporting the above coins.
illustrate:
Contract removal process
U-based contract trading rules
Leverage and margin for U-margined contracts
price index
Thank you for supporting Binance!
Binance Team
November 13, 2022
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Binance reserves the right to modify, change or cancel this announcement at any time and for any reason at its sole discretion without prior notice.
Risk warning: Digital asset prices are subject to high market risk and price volatility. The value of your investment may fluctuate and you may lose the amount invested. You will be solely responsible for your investment decisions, and Binance is not responsible for any losses that may occur. Contract trading in particular is subject to high market risk and price volatility, and in the event of adverse price movements, your entire margin balance may be liquidated. Past performance is also not a reliable predictor of future performance. Before trading, you should make your own assessment of whether trading is suitable based on your own objectives and circumstances, including risks and potential benefits, and consult an independent financial advisor. This article should not be considered financial or investment advice. If you want to know how to trade responsibly, please refer to the Binance Responsible Trading Information Page. Please see Binance’s Terms of Use and Risk Warning for more details.