Binance Futures has announced the launch of new features for its yield-bearing asset, BFUSD, aimed at enhancing the user experience. These updates will be available starting January 22, 2025.
The specialized trading platform stated that users can now purchase BFUSD using USDC in addition to USDT. Also, BFUSD holders can choose to redeem their assets for either USDT or USDC, though these transactions may incur fees.
The platform also introduced pre-purchase and pre-redemption options such that users can reserve assets if BFUSD, USDT, or USDC are in short supply. Once the supply is replenished, the reserved assets will be credited to users’ accounts.
In addition to these updates, Binance Futures stated that from January 23, 2025, daily rewards for BFUSD holders will be distributed in USDC, regardless of the currency used for the initial purchase.
Meanwhile, the platform has added new data indicators, including historical charts for protocol yield, tracking total annual percentage yield (APY) from derivatives and financial management. Users can also view BFUSD’s total supply trends, system collateral, and a summary of its notional holdings. It claimed the move was to improve transparency for the management of the yield asset.
In another development, Binance Futures has announced significant updates to margin tiers and leverage settings for several perpetual contracts, including TRUMPUSDT, LITUSDT, DOGSUSDT, and NEIROETHUSDT. These changes are set to take effect on January 22, 2025, at 16:00 ET.
Initially launched on January 18, 2025, the TRUMP Official Trump perpetual contract offered a maximum leverage of 25x. However, with the upcoming adjustments, Binance has increased the maximum leverage to 50x, doubling the previous rate. Alongside this, the margin rate has been reduced from 2.00% to 1.00%, and all other margin rates have been cut by at least 50% or more.
The platform assured users that their current positions will remain unaffected by these changes. These adjustments are anticipated to enhance liquidity, giving traders better control over their positions and improving the overall experience in the rapidly growing crypto futures market.
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