Binance has announced the launch of three new perpetual contracts—GRASSUSDT, DRIFTUSDT, and SWELLUSDT—offering up to 75x leverage.
Contract Launch Details
The contracts will begin trading on November 8, 2024, starting with GRASSUSDT at 15:30 UTC, followed by DRIFTUSDT at 15:45 UTC, and SWELLUSDT at 16:00 UTC. These contracts allow for continuous trading and flexible margin usage. Each contract features a funding rate cap at ±2.00%, with funding fees settled every four hours. [Read more](https://www.binance.com/en/support/announcement/binance-futures-will-launch-usd%E2%93%A2-margined-grassusdt-driftusdt-and-swellusdt-perpetual-contracts-with-up-to-75x-leverage-8f3b03e494c94360b9985edc5402fbac?hl=en)
Overview of GRASS, DRIFT, and SWELL
Grass (GRASS) is a decentralized data-sharing platform that allows users to monetize unused internet bandwidth. Drift (DRIFT) is a decentralized exchange on the Solana blockchain, focused on perpetual futures trading. Swell Network (SWELL) provides a decentralized staking protocol, allowing Ethereum holders to earn staking rewards.
Market Performance
All three assets have shown significant performance increases recently. GRASS is up 36% in the last 24 hours and 193% over the past week. DRIFT is up 80% in 24 hours, 74% in the past week. SWELL is up 58% in 24 hours, 72% over the past week.
The new Binance perpetual contracts provide opportunities for trading high-performing assets, although they come with additional risks associated with high leverage positions.
