Binance Futures, a prominent player in the cryptocurrency derivatives space, has unveiled an exciting development for traders and investors.
The exchange has announced the launch of a new perpetual contract designed for the native token of Bancor Network, BNT. This latest addition to Binance’s trading offerings is set to provide enhanced opportunities for users to engage with the cryptocurrency market.
The BNTUSDT perpetual contract is scheduled to debut on August 10, 2023, at 15:00 (UTC). This contract will empower traders with the ability to leverage their positions by up to 20 times, amplifying their potential gains in the market.
Bancor Network, the driving force behind BNT, is a decentralized liquidity protocol that presents a revolutionary approach to token exchanges.
By eliminating intermediaries and minimizing slippage, Bancor Network empowers users to seamlessly exchange tokens within a decentralized ecosystem.
BNT plays a crucial role within the Bancor Network ecosystem. It allows liquidity providers to stake their assets in liquidity pools, earning fees from swaps conducted within these pools.
Moreover, BNT offers a distinctive feature known as “non-permanent loss protection.” This innovative feature serves to compensate liquidity providers for the opportunity cost associated with holding tokens in a pool.
James Wilson is a crypto writer and researcher with over 5 years of experience in the industry. He is a graduate of the University of California, Berkeley, where he studied computer science and economics. After graduating, he worked as a software engineer at a major tech company before transitioning to a career in crypto.
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