Binance Futures has announced that the coin-margined perpetual futures contracts for Kyber Network Crystal (KNC), ICON (ICX), Tezos (XTZ), Oasis (ROSE), and ApeCoin (APE) will be delisted from the exchange. Automatic settlements for KNCUSD, ICXUSD, and XTZUSD will take place on May 20, while for ROSEUSD and APEUSD, settlements will occur on May 21. After the settlements, these futures contracts will no longer be available for trading on Binance Futures.
Positive balances of KNC, ICX, XTZ, ROSE, and APE in the Coin-Margined (CM) wallets under the Portfolio Collateral account will be transferred to the Cross Collateral wallets after the settlements. For users without a Portfolio Collateral account, balances in CM wallets will be moved to spot wallets.
For users with negative balances in KNC, ICX, XTZ, ROSE, and APE in the CM wallets under the Portfolio Collateral account, an automatic repayment process will occur post-settlement. Binance Futures has informed users that this process may take approximately 24 hours or longer to complete.
Prior to delisting, adjustments to leverage and margin tiers will be implemented, effective immediately. Users are advised to manage their positions and leverage accordingly to avoid potential liquidation risks.
A Standard Practice
Periodically, Binance Futures implements protective measures to safeguard users from risks during volatile market conditions. These measures include modifications to leverage, position value, maintenance margin, funding rate, and price index components.
The adjustments made for the coin-margined perpetual futures contracts of KNCUSD, ICXUSD, XTZUSD, ROSEUSD, and APEUSD are part of the broader process of delisting these contracts from the exchange.
