Binance Futures Launching Perpetual Contract for Chainlink (LINK)

On Thursday (January 16), digital asset exchange Binance announced that its futures trading platform, Binance Futures, which went live in September 2019, is launching a new perpetual contract product -- LINK/USDT -- at 08:00 (UTC) on 17 January 2020.

According to Binance's announcement, "to prevent market manipulation, Binance will implement a pricing limit of ±1% on the mark price within the first 30 minutes after trading starts."

Also, it is worth keeping in mind that, as with the ETC/USDT perpetual contract, which was announced yesterday, "perpetual contracts on Binance Futures are similar to the trading pairs on the spot market," and they are "priced and settled in the same manner."

Binance Futures users will be able to choose between 1x and 75x leverage.

Here are the specifications for the contract:

  • Base Asset: LINK
  • Quote Asset: USDT
  • Settlement Asset: USDT
  • Contract Unit: 1 LINK
  • Initial Margin Rate: 1.3% Base
  • Maintenance Margin Rate: 0.65% Base
  • Liquidation Fee: 0.5%

The other eight perpetual contracts being offered by Binance Futures are BTC/USDT, ETH/USDT, BCH/USDT, XRP/USDT, EOS/USDT, LTC/USDT, TRX/USDT, and ETC/USDT.

As for Chainlink, on Monday (January 14), blockchain startup Conflux, which is building "a state-of-the-art public blockchain system that can achieve high transactions per second (TPS) without having to sacrifice for decentralization or security", announced that it is partnering with Chainlink:

Chainlink’s oracle network acts as the translator that enables Conflux smart contracts (on-chain) the ability to interact with reliable and trustworthy information from outside the Conflux blockchain (off-chain).

 

Featured Image Courtesy of Binance

Coinbase, EOS Community Clash Over Supposed ‘Degraded Performance’

Francisco Memoria

The San Francisco-based cryptocurrency exchange Coinbase has been clashing with the EOS community on social media over supposed “degraded performance” the EOS network has been suffering.

According to a tweet published by one of Coinbase’s official accounts, the EOS network is experiencing “degraded performance levels” and as a result EOS sends have been disabled, while receives may be delayed. Coinbase’s status page shows it has been seeing degraded performance on the network for four days.

In February 17, Coinbase also noted there were delays in EOS sends/receives as it was working “rough a backlog of outgoing EOS transactions.” Responding to Coinbase EOS New York, a major EOS block producer, claimed the network was fully functional and that the problem came from the cryptocurrency exchange itself.

On Reddit, EOS New York wrote that the “network is operating fine and Coinbase is shifting blame away from their internal infrastructure problems.” It added no other entity reported issues and that instead the exchange could reach out to block producers for free help.

EOS Nation, another major EOS block producer, responded to the exhcnage saying the network did face some hiccups but is nevertheless “extremely reliable.”

Some speculate the EOS network may still be facing congestion from time to time over the controversial EIDOS airdrop, that put the network into a “congestion mode” late last year and forced Coinbase to raise the amount of staked CPU on its wallets to process transactions.

Some believe the EIDOS airdrop is being run to make EOS’s shortcomings stand out and incentivize users to use other blockchains using the EOSIO software, created by the company Block.one. Voice, the social network the company is set to launch ,is for example launching on a “purpose-made EOSIO blockchain.”

Featured Image Credit: Photo via Pixabay.com