Binance Futures to Cease Support for Cross Collateral Feature
Binance Futures will cease support for the Cross Collateral feature on 2022-09-30 06:00 (UTC).
Effective from 2022-09-01 06:00 (UTC), Binance Futures will stop accepting BTC, ETH and EUR assets as Cross Collateral. This will not affect existing Cross Collateral positions.
- Users are advised to close all BTC, ETH and EUR Cross Collateral positions, and return all the USDT borrowed before 2022-09-30 06:00 (UTC).
- If users have BTC, ETH and EUR Cross Collaterals and did not close their Cross Collateral positions manually before 2022-09-30 06:00 (UTC), their Cross Collateral positions will be automatically closed by our system. All the USDT borrowed will be returned within three days by deducting the available balance in users’ Futures Wallets, while collateral assets will be returned to users’ Spot Wallets.
- Liquidation may occur due to insufficient margin. Users need to adjust their futures positions accordingly to avoid any potential liquidation.
- No liquidation fees will be charged during the automatic settlement process, but the system may sell more assets than if they were manually closed to ensure all Cross Collateral loans are cleared.
- In the meantime, users can use their collaterals to trade Futures via the Multi-Assets Mode. Users may activate the Multi-Assets Mode via Futures trading page > Settings > Preference > Asset Mode > Multi-Assets Mode.
For More Information:
- How to Repay a Loan
- How to Repay a Loan with Collateral
- How to Remove Collateral after Loan Repayment
- What Is Multi-Assets Mode and What Assets Does It Support
- What Are the Benefits of Trading USDⓈ-Margined Futures in Multi-Assets Mode
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.