Binance to Launch TOKEN Perpetual After Multiple Exchange Listing

TokenFi’s TOKEN Gains Momentum

Binance Futures is all set to introduce the USDⓈ-M TOKEN Perpetual Contract on November 3, 2023, at 15:00 (UTC). This addition to Binance’s diverse offering comes with the potential for up to 50x leverage. A noteworthy aspect of this development is that Binance has yet to list the TOKEN in its spot market.

Binance’s approach to the TOKENUSDT Perpetual Contract is dynamic, with certain contract specifications that may be adjusted based on market risk conditions. These conditions include the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements.

The TOKEN, which serves as the focal point of this development, is a cryptocurrency introduced by FLOKI for its venture, TokenFi. This launch builds upon FLOKI’s recent forays into the crypto space, aiming to diversify its presence and offerings.

TokenFi is a platform that reportedly simplifies and democratizes launching cryptocurrencies. The platform aims to provide an all-in-one platform that equips users with the tools and resources for successful crypto token creation.

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TOKEN’s Ascension: Listing on Leading Exchanges and Disputes

The launch of the TOKEN Perpetual Contract on Binance Futures is the latest milestone in TOKEN’s journey. The token has already made securing listings on ByBit, MEXC, BingX, and KuCoin exchanges.

However, the TOKEN’s listing journey hasn’t been entirely smooth. Bitget, a prominent exchange, recently stirred up controversy by announcing the delisting of the TokenFi TOKEN just days after it went live.

Bitget cited reasons such as “suspected market manipulation” and “malicious control of liquidity” on decentralized exchanges (DEXs) as grounds for delisting. Bitget also raised concerns about Floki’s role in providing liquidity to the token. Allegations surfaced that Floki added only $2,000 worth of tokens to liquidity pools.

Floki, in response, took to social media platform X (formerly Twitter), asserting that Bitget had listed the token without permission. Floki further claimed that Bitget listed a fake version of TOKEN just twelve minutes before it was officially launched. Floki asserted that Bitget’s actions led to a $10 million deficit as the value of TOKEN surged.

TOKEN is trading at 0.047, up 1% in 24 hours.

TOKEN 24-hr chart (Source: CoinMarketCap)

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