Binance Lists FIDA Perpetual Futures with Up to 75x Leverage
CryptoNewsTerminal Staff19 Sep, 2024
Binance Lists FIDA Perpetual Futures with Up to 75x Leverage
Binance, the world's leading cryptocurrency exchange, has announced the listing of FIDA perpetual futures on its platform. The futures will be available for trading on September 19th at 9:30 PM (KST) with up to 75x leverage. FIDA is the native token of the Bonfida protocol, a decentralized exchange (DEX) built on the Solana blockchain. The token is used for paying transaction fees, staking, and governance on the Bonfida platform. The launch of FIDA perpetual futures on Binance will provide traders with a new way to speculate on the price of FIDA and hedge against risk. The futures will be physically settled, meaning that traders will receive or deliver the underlying FIDA tokens upon contract maturity. Binance's decision to list FIDA perpetual futures is a testament to the growing popularity of the Bonfida protocol and the FIDA token. The listing will also provide traders with greater access to the Solana ecosystem, which is home to a number of innovative DeFi projects.
