Recently, Binance made a pivotal announcement regarding the alteration and safeguarding of various futures trading pairs to ensure the well-being of users and maintain the integrity of the trading domain. The initiative primarily focuses on the delisting and adjustment of leverage and margin tiers for COIN-M KNCUSD, ICXUSD, XTZUSD, ROSEUSD, and APEUSD perpetual contracts.

With this transformative decision, Binance Futures discloses its plan to close all positions and execute automatic settlements for COIN-M perpetual contracts linked to KNCUSD, ICXUSD, and XTZUSD at the stroke of midnight on May 20, 2024. Following suit, ROSEUSD and APEUSD COIN-M perpetual contract settlements are scheduled for 12:00 on May 21, 2024, after which these contracts will be eliminated from the trading spectrum. Furthermore, at 13:30 on May 10, 2024, Binance Futures commits to adjusting the leverage and margin thresholds associated with the aforementioned contracts.

Noteworthy to mention is that existing positions established before the impending updates will witness repercussions. It is strongly recommended that users recalibrate their positions and leverage proactively to circumvent any potential liquidations. In circumstances characterized by extreme market volatility, Binance Futures reserves the right to implement additional protective protocols concerning the specified contracts, thereby fortifying user protection and reducing associated risks without prior notice.

These imperative safety measures span a variety of adjustments, including amendments to maximum leverage quantum, position value, and maintenance margin for each collateral tier, updating funding rates encompassing interest rates, premiums, and capped funding rates, altering constituents of the price index, and incorporating the Last Price Protected mechanism to revise the Mark Price.