Binance Ventures into NFPUSDT Perpetual Contract as NFP Price Surges
Binance Futures has announced the launch of the USD-M NFP Perpetual Contract, allowing traders to participate in perpetual trading with leverage of up to 50x. This contract settles in USDT and is based on the underlying asset NFPrompt (NFP), which recently debuted on Binance. The launch took place on December 27, 2023, at 1:30 p.m. UTC.
Key details of the Binance Futures NFPUSDT Perpetual Contract include a tick size of 0.0001, a capped funding rate of +2.00%/-2.00%, and funding fee settlements occurring every 4 hours. The contract also offers maximum leverage of 50x and is available for trading 24×7.
To incentivize liquidity providers, Binance is offering a maker fee rebate of 0.005% for qualified USD-margined futures liquidity providers during the initial two weeks approximately. Binance also reserves the right to make adjustments to contract specifications in response to market risk conditions.
The Multi-Assets Mode feature of the project allows users to trade the NFPUSDT Perpetual Contract using various margin assets, including Bitcoin, providing traders with greater flexibility and the ability to employ diverse trading strategies.
Furthermore, Binance has introduced NFP trading on Binance Convert, allowing users to trade NFP against BTC, USDT, and other supported tokens with zero fees. The NFP listing on Binance took place after the conclusion of the Binance Launchpool project. Additionally, to reward their supporters, the NFPrompt network organized an airdrop.
Following these developments, the price of NFP has experienced a notable surge. The NFP crypto price increased by 1.39% and was trading at $1.188369 at the time of writing, with a high of $1.23 during the trading session. The market capitalization of NFP also rose by 0.58% to $294.38 million, with a trade volume of $277.39 million. NFP’s current circulating supply stands at 250 million tokens, which represents 25% of the total supply of 1 billion tokens.