Binance Futures, the derivative trading platform of Binance, recently announced the listing of Babylon (BABY). For those who don't have a Binance account, please register through THIS LINK to get a transaction fee discount.
Specifically, Binance Futures will launch the BABYUSDT perpetual contract at 8:30 PM on 5/4 (Vietnam time) with leverage support up to 5x.
Details about this new contract can be seen in the table below:
USDⓈ-M Perpetual Contract | BABYUSDT |
Opening Time | 8:30 PM 5/4 (Vietnam time) |
Underlying Asset | Babylon (BABY) |
Settlement Asset | USDT |
Tick Size | 0.00001 |
Maximum/Minimum Funding Rate | +2.00% / -2.00% |
Funding Rate Recalculation Time | Every 4 hours |
Maximum Leverage | 5x |
Trading Time | 24/7 |
Multi-Assets Mode | Supported |
Announcement details: Binance Futures Will Launch USDⓈ-Margined BABYUSDT Perpetual Contract Pre-Market Trading | Binance announcement,Binance news,Binance Futures
Babylon is a Proof-of-Stake (PoS) Blockchain platform developed using the Cosmos SDK. It is a pioneering project in using Bitcoin (BTC) as a stake, helping to enhance security for other PoS chains.
While PoW Blockchains rely on hardware computing power for security, PoS Blockchains depend on the amount of stake to ensure network security. However, new PoS Blockchains still face difficulties in the initial stage, where an individual or organization can spend money to acquire a large stake, thereby gaining system control or having to pay high returns to attract operators, leading to rapid inflation.
Babylon provides a solution to use Bitcoin's security power to enhance security for PoS chains. This not only helps protect PoS chains but also brings profits to Bitcoin holders.
=> Read more: What is Babylon?