Binance Expands ZKsync (ZK) Offering to Earn, Margin, and Futures

Binance,
a
leading
cryptocurrency
exchange,
has
announced
the
addition
of
ZKsync
(ZK)
to
its
Simple
Earn,
Margin,
and
Futures
platforms.
This
update
aims
to
provide
more
trading
options
for
users
and
enhance
the
overall
trading
experience
on
the
platform,
according
to

Binance.

ZKsync
on
Binance
Simple
Earn

Starting
from
June
17,
2024,
ZKsync
(ZK)
has
been
integrated
into
Binance
Simple
Earn.
This
service
allows
users
to
earn
rewards
on
their
cryptocurrency
holdings
in
a
simplified
manner.
Users
can
now
opt
to
earn
passive
income
by
holding
ZK
in
their
Simple
Earn
accounts.

ZKsync
on
Binance
Margin

In
addition
to
Simple
Earn,
ZKsync
(ZK)
is
now
available
on
Binance
Margin.
The
cryptocurrency
has
been
added
as
a
borrowable
asset
on
both
Cross
and
Isolated
Margin.
Users
can
trade
the
ZK/USDT
pair
on
these
margin
platforms
starting
from
June
17,
2024,
at
11:00
(UTC).
This
addition
expands
the
borrowing
and
trading
options
available
to
margin
traders.

ZKsync
on
Binance
Futures

Binance
Futures
has
also
launched
the
USDⓈ-M
ZK
Perpetual
Contract,
allowing
users
to
trade
with
up
to
50x
leverage.
The
contract
went
live
on
June
17,
2024,
at
11:00
(UTC).
The
maximum
funding
rate
at
launch
is
set
at
+2.00%
/
-2.00%,
with
a
funding
fee
settlement
frequency
of
every
four
hours.

Binance
noted
that
it
might
adjust
the
specifications
of
the
ZKUSDT
Perpetual
Contract
based
on
market
risk
conditions.
These
adjustments
could
include
changes
to
the
funding
fee,
tick
size,
maximum
leverage,
initial
margin,
and
maintenance
margin
requirements.

Furthermore,
the
Multi-Assets
Mode
allows
users
to
trade
the
ZKUSDT
Perpetual
Contract
across
multiple
margin
assets,
subject
to
applicable
haircuts.
For
instance,
users
can
use
BTC
as
margin
when
trading
the
ZKUSDT
Perpetual
Contract.

The
ZKUSDT
Perpetual
Contract
is
subject
to
Binance’s
Terms
of
Use
and
the
Binance
Futures
Service
Agreement.

Additional
Information

Binance
has
provided
additional
resources
and
guides
for
users
who
wish
to
learn
more
about
the
new
offerings.
Users
are
encouraged
to
check
the

Margin
Data
for
the
most
updated
list
of
marginable
assets
and
further
information
on
specific
limits,
collateral
ratio,
and
rates.

As
always,
Binance
reminds
users
to
exercise
caution
when
trading
digital
assets
due
to
high
market
risk
and
price
volatility.
Users
should
consider
their
investment
experience,
financial
situation,
investment
objectives,
and
risk
tolerance,
and
consult
an
independent
financial
adviser
before
making
any
investment
decisions.

Image
source:
Shutterstock