Binance launches USDT perpetual contracts for the native tokens of dForce and Phala Network on Dec. 30. After the Binance Futures announcement, dForce surged by 26%.
According to the official notice posted on Dec. 30, PHAUSDT will be available for trading on Dec. 30 at 11:30 UTC. Meanwhile DFUSDT will be listed on the same day but 15 minutes after PHAUSDT’s launch, specifically at 11:45 UTC.
Both perpetual contracts will be offered with up to 75x leverage and a tick size of 0.00001. The maximum financing rate for DFUSDT and PHAUSDT perpetual contracts at launch will be +2.00% and -2.00%. The funding fee calculation frequency will occur every four hours.
Moreover, Binance will provide multi-asset trading support for both perpetual tokens.
Shortly after the announcement, the dForce native token went up by as high as 26%, according to data from crypto.news. At the time of writing, DF is trading hands at $0.095. Over the past week, the dForce native token has gone up by more than 30% and 103.71% in the past month.
DF holds a market cap of more than $83.2 million, placing the token in 636th place on the rankings. The dForce native token has a fully diluted valuation that stands at $84 million and a 24 hour trading volume of $157 million.
On the other hand, PHALA only received a slight boost of 10% after its Binance Futures listing. However, the token’s long term performance seems to reflect a better outlook. According to CoinGecko, PHALA has skyrocketed by 327% in the past week and around 212% in the past month.
dForce is a Chinese decentralized finance network known for its permissionless liquidity, offering various infrastructure protocols including decentralized stablecoins, real-world assets and yield tokens. DF is dForce’s utility token that can be staked to govern the network.
The Phala Network is a blockchain platform that operates mainly in providing privacy and secure cloud computing solutions on Web3, powering its system using the PHA utility token.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
