Binance Futures Announces Adjustment to KORUUSDT Perpetual Contract Specifications
Binance Futures has released an official notice regarding a technical adjustment to the KORUUSDT perpetual contract. This change is a direct response to a corporate action involving the contract's underlying asset.
Reason for the Adjustment
The adjustment is necessitated by a 1-for-20 stock split executed by the KORU project. To ensure the derivative contract accurately reflects the new value of the underlying asset post-split and maintains pricing consistency, Binance must modify the contract's specifications accordingly.
Adjustment Schedule and Process
The platform has provided a clear timeline for the procedure, all times in UTC+8:
- Adjustment Start: July 15, 2024, at 08:15
- Expected Completion: July 15, 2024, by 21:30
Following the adjustment, the contract will enter a brief cancel-only period for up to 5 minutes. During this window, users may only cancel existing orders and will not be able to place new ones. This is a standard operational measure to ensure system stability during the transition.
Implications for Traders
The primary parameter being changed is the contract size, which defines the amount of the underlying asset per contract. The new size will align with the post-split asset value.
For users with open positions, the notional value and unrealized P&L of your holdings will not be affected by this technical recalibration. However, traders are advised to:
- Monitor the official announcement page for any updates.
- Review existing orders (e.g., stop-loss, take-profit) before the adjustment begins.
- Be aware that market liquidity may be atypical during the adjustment and cancel-only phase.
Exercise caution around the adjustment time. Once the process is fully complete, you can resume trading based on the updated contract parameters.