Binance Launches NFPUSDT Perpetual Contract Amid NFP Price Rally

Binance Futures launched the USD-M NFP Perpetual Contract on December 27, 2023, at 1:30 p.m. UTC, providing traders with the opportunity to engage in perpetual trading with up to 50x leverage. The underlying asset, NFPrompt (NFP), would be settled in USDT via this perpetual contract. The update comes after NFP’s listing on Binance after it made its market debut on Wednesday.

Details Of Binance Futures’ NFPUSDT Perpetual Contract

The key details of the Binance Futures USD-M NFP Perpetual Contract include:

• Launch Time: December 27, 2023, at 1:30 p.m. UTC
• Underlying Asset: NFPrompt (NFP)
• Settlement Asset: USDT
• Tick Size: 0.0001
• Capped Funding Rate: +2.00%/-2.00%
• Funding Fee Settlement Frequency: Every 4 Hours
• Maximum Leverage: 50x
• Trading Hours: 24×7
• Multi-Assets Mode: Supported

In the perpetual contract, Binance will also offer a maker fee rebate of 0.005% for qualified USD-margined futures liquidity providers during the initial approximately 14 to 15 days. The announcement also mentioned that to adapt to market risk conditions, Binance reserves the right to adjust specifications. These adjustments could include tick size, funding fees, maximum leverage, initial margin, and maintenance margin requirements.

Also Read: NFPrompt (NFP) Airdrop Announcement Sparks Crypto Buzz Amid Upcoming Binance Listing

The Multi-Assets Mode of the project will enhance flexibility, enabling users to trade the NFPUSDT Perpetual Contract across various margin assets, such as Bitcoin (BTC), subject to applicable haircuts. This mode will allow traders to leverage diverse trading strategies.

Additionally, Binance introduced NFP to Binance Convert, enabling users to trade NFP against BTC, USDT, and other supported tokens at zero fees. Earlier, the NFP Binance listing took place on the same day after the conclusion of the Binance Launchpool project. Moreover, the NFPrompt network scheduled an airdrop on Wednesday to reward their true supporters.

NFP Price Today

The recent developments marked a turning point for the NFPrompt team and propelled the NFP crypto price to gain. The NFP price added 1.39% to its value and traded at $1.188369 at press time. The crypto registered a high of $1.23 during the trading session.

Moreover, the NFP market capitalization increased by 0.58% to $294.38 million. Whilst, the day’s trade volume was recorded at $277.39 million, which is an impressive figure for a new entrant in the crypto space. The current circulating supply of NFP stands at 250 million tokens, which is 25% of the total supply of 1 billion tokens.

Also Read: BNB Rallies As Binance Announces NFPrompt (NFP) on Launchpool