The USD⑈-M TOKEN Perpetual Contract will be launched by Binance Futures on November 3, 2023, at 15:00 (UTC). With this expansion, Binance’s wide range of offerings may potentially increase leverage by up to 50 times. The fact that Binance has not yet listed the TOKEN on its spot market is a noteworthy part of this development.
The TOKENUSDT Perpetual Contract is handled dynamically by Binance, with some contract terms that might be changed in response to changes in market risk. The financing cost, tick size, maximum leverage, initial margin, and maintenance margin requirements are some of these constraints.
The centre of this development is the cryptocurrency TOKEN, which FLOKI invented for its project, TokenFi. With this launch, FLOKI hopes to expand its products and footprint while building on its prior ventures into the cryptocurrency market.
Binance’s TOKEN Perpetual Launch After Multiple Exchange Listings,Binance’s TOKEN Perpetual Launch After Multiple Exchange Listings
According to reports, TokenFi is a platform that makes launching cryptocurrencies easier and more accessible. The platform’s goal is to give users access to a comprehensive toolkit that will enable them to create cryptocurrency tokens successfully.
The Ascent of TOKEN: Listing on Premier Exchanges and Resolving Conflicts
The most recent development in TOKEN’s history is the introduction of the TOKEN Perpetual Contract on Binance Futures. The coin has already succeeded in getting listings on exchanges including ByBit, MEXC, BingX, and KuCoin.
The TOKEN’s listing process hasn’t been flawless, either. Not too long after becoming live, the well-known exchange Bitget caused a stir when it revealed that the TokenFi TOKEN was being delisted.
Bitget provided justifications for delisting, including “malicious control of liquidity” and “suspected market manipulation” on decentralised exchanges (DEXs). Concerns over Floki’s contribution to the token’s liquidity were also voiced by Bitget. There have been claims that Floki only contributed $2,000 worth of tokens to liquidity pools.
In retaliation, Floki claimed on social networking site X (previously Twitter) that Bitget had displayed the token without authorization. Furthermore, according to Floki, Bitget featured a phoney version of TOKEN just twelve minutes prior to its official introduction. As the value of TOKEN increased, Floki claimed that Bitget’s activities caused a $10 million shortfall.
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