Binance Futures announced that it will carry out an upgrade of the Coin-M futures system from 06:00 AM (UTC) on June 2, 2022 onwards to improve the system’s performance and stability. The upgrade is expected to last about an hour. Coin-Margined futures contracts are futures contracts that are margin in other coins such as BTC, ETH, ADA,… and USD pairs (BTCUSD, ETHUSD,…).
During the upgrade, Binance will suspend the following services:
- Load and withdraw into the user’s Coin-M futures wallet.
- Trade on Coin-M futures contracts, including user futures contracts in the Escrow Program by category.
- Sign up for Coin-M futures contracts for new users.
- For api traders, Binance will stop accepting Coin-M futures order cancellation requests made via POST/fapi/v1/s/ountdownCancelAll, two hours before the start of the system upgrade.
- The upgrade is limited to Coin-M futures contracts on Binance. It will not affect USD(S)-M futures, options, Spot or Margin trading.
- Users who open Coin-M Futures positions should review their collateral balance before starting the upgrade to minimize possible price fluctuations during the upgrade.
- Binance will pause the transfer of Coin-M futures assets for 10 minutes before starting a system upgrade. Please ensure you have had enough time to make transfers, deposits and withdrawals processed before the above time.
- Users will have a time of 15 minutes after the upgrade process is completed to cancel the order, proceed to deposit, withdraw funds and use the functions related to the account before the trading activity is resumed.
- New users cannot open a future account during a system upgrade.
- The 1-hour upgrade time is just the number estimated by Binance and will likely change. As usual, Binance will regularly update the upgrade progress on Binance’s social media channels.
Risk warning: Trading futures contracts carries high risks, and the possibility of gains and losses is significant. Past profits do not represent future profits. All of your margin balances can be liquidated in the event of sharp price fluctuations. Take your own risks when using every trading strategy. Binance will not be liable for any losses arising from your use of futures contracts.
>>> See also: Registration guide and KYC Binance exchange details.