(Binance) Binance has announced that it has delisted coin-margined LUNA perpetual contracts amid the ongoing market liquidations.
The crypto exchange advised users to close open positions before the delisting time on 2022-05-12 at 08:00 (UTC) to avoid automatic settlement.
The statement further indicated that Binance Futures has started conducting automatic settlements on the contracts, including reducing the leverage tiers and updating margin tiers for coin-margined LUNA perpetual contracts.
Binance said that the 8x leverage tier is now its max leverage tier for LUNA perpetual contracts, which replaces the previous leverage of 21-25x. Other leverages 11-20x is reduced to 7x, while 6-10x goes to 6x.
The world’s largest crypto exchange said that the existing positions opened prior to the update would be unaffected.
The changes happened some two days after Binance suspended LUNA and UST withdrawals amid record liquidations. LUNA has so far lost more than 99% of its value while its stablecoin UST lost peg against the dollar.
BNBUSD is down -2.59%, LUNAUSD is down -98.61%.
