Fellow Binancians,
Luno will launch Luno Leveraged Tokens (BLVT) and simultaneously list the first pair of leveraged tokens, BTCUP and BTCDOWN, on 2020/05/14 at 10:00 AM (UTC), with BTCUP/USDT and BTCDOWN/USDT trading pairs. BTCUP and BTCDOWN will only be available to trade via Luno Spot trading’s advanced interface (after the listing time above) and are not yet available to trade via Luno’s Spot Basic/Classic trading interfaces or mobile trading apps.
Luno Leveraged Tokens (BLVT) are newly designed by Luno, after careful consideration of user requests and evaluation of existing leverage products. Luno Leveraged Tokens provide lower risks and fees compared to derivatives and other conventional leveraged tokens (not issued by Luno), providing users with better protection.
About Luno Leveraged Tokens (BLVT)
Luno Leveraged Tokens are tradable assets (off-chain tokens) in the Luno spot market that give users leveraged exposure to the underlying asset. Each leveraged token represents a basket of perpetual contract positions. The price of the tokens tracks the change in notional amount of the perpetual contract positions in the basket and changes in the multiples of leverage level.
- BTCUP - allows you to generate leveraged gains when Bitcoin increases in price.
- BTCDOWN - allows you to generate leveraged gains when Bitcoin decreases in price.
The new Luno Leveraged Tokens (BLVT) have the following characteristics:
- Leverage: Luno Leveraged Tokens do not maintain constant leverage. Instead, Luno Leveraged Tokens maintain a constant target leveraged range between 1.5x and 3x. Since Luno Leveraged Tokens are not forced to maintain a set degree of leverage, Luno Leveraged Tokens rebalance on an as-needed basis, such as during extreme market movements.
- Intelligent rebalancing mechanism: Positions of the Luno Leveraged Tokens will only be rebalanced when needed, which can increase profit when the market is favorable and reduce losses when the market is unfavorable, to avoid liquidation. For more information, please read “About Rebalancing”.
- Low fees: The fees associated with Luno Leveraged Tokens are trading fees, redemptions fees, management fees and funding fees. The daily management fee of Luno Leveraged Tokens is as low as 0.01%, which reduces the user's holding cost. For more information, please refer to Luno Leveraged Tokens Fees.
Please ensure you have fully read the Luno Leveraged Tokens Risk Disclosure Statement prior to trading or participating in any Luno Leveraged Tokens products, and fully understand the risks associated with leveraged tokens. As a trader, you acknowledge and agree that you shall access and use Luno Leveraged Tokens at your own risk.
Further information:
Details:
Note:
- Users who have previously traded any leveraged tokens on Luno will receive 30 days of zero trading fees in the form of rebates when trading Luno Leveraged Tokens (BLVT) from 2020/05/14 10:00 AM (UTC) to 2020/06/13 10:00 AM (UTC). Rebates will be distributed within 5 working days after the promotion ends. You will be able to login and see your rewards via Wallet > Distribution History.
The blockchain industry is still in its nascent stage. Every Luno product is launched and then matures based on our close attention to user feedback and suggestions. We welcome your feedback on Luno Leveraged Tokens (BLVT) as well as any feedback on existing or previously listed leveraged tokens. Please reach out to lvt@binance.com.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Luno will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.
Thanks for your support!
Luno Team
2020/05/12
Trade on-the-go with Luno’s crypto trading app:
Find us on
Telegram: https://t.me/binanceexchange
Twitter: https://twitter.com/binance
Facebook: https://www.facebook.com/binance
Instagram: https://www.instagram.com/binance
Comments
0 comments
Article is closed for comments.