Binance Launches USDT Perpetual Contracts for dForce (DF) and Phala Network (PHA) Native Tokens on Dec. 30

After the Binance Futures announcement, dForce surged by 26%.

Cryptocurrency exchange Binance announced Monday the launch of USDT perpetual contracts for the native tokens of decentralized finance (DeFi) projects dForce (DF) and Phala Network (PHA).

The PHAUSDT trading pair will be available starting Dec. 30 at 11:30 UTC, while the DFUSDT contract will launch at 11:45 UTC, according to the Binance Futures announcement.

Both perpetual contracts will feature up to 75x leverage and a tick size of 0.00001. The maximum financing rate for DFUSDT and PHAUSDT perpetual contracts at launch will be +2.00% and -2.00%, respectively. The funding fee calculation frequency will occur every four hours.

Additionally, Binance will offer multi-asset trading support for both perpetual tokens.

Following the announcement, the dForce native token surged by as much as 26%, according to data from crypto.news. At the time of writing, DF is trading hands at $0.095.

Over the past week, the dForce native token has gone up by more than 30% and 103.71% in the past month.

Currently, DF holds a market cap of over $83.2 million, placing the token in 636th place on the rankings. The dForce native token has a fully diluted valuation that stands at $84 million and a 24 hour trading volume of $157 million.

On the other hand, PHALA received a slight boost of 10% after its Binance Futures listing. However, the token’s long term performance seems to reflect a better outlook. According to CoinGecko, PHALA has skyrocketed by 327% in the past week and around 212% in the past month.

dForce is a Chinese decentralized finance network that offers various infrastructure protocols including decentralized stablecoins, real-world assets and yield tokens. Its native token, DF, serves as a utility token that can be staked to participate in the network's governance.

The Phala Network operates as a blockchain platform that mainly provides privacy and secure cloud computing solutions on Web3, powering its system using the PHA utility token.

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