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Binance, a renowned cryptocurrency exchange platform, recently launched a Football Fan Token Index perpetual contract (FOOTBALLUSDT) that tracks the performance of certain football fan club tokens listed on the Binance spot market.
Binance Football Fan Token Index is available 24/7 trading hours and can give up to 25 times leverage.
To adapt to the market conditions, Binance will adjust the contract specifications periodically, which may include modifying metrics like tick size, maximum leverage, maintenance margin requirements, and initial margin.
The crypto exchange company also launched its USDC perpetual contracts, a new product that will allow the users to trade their USDC balance on Binance derivative market. The USDC perpetual contract can be used as collateral with no expiration date and place short or long contracts with up to 25x leverage.
Users can place orders depending on the number of cryptocurrencies they hold, such as Bitcoin, Ether, and more. Additionally, they can also calculate the profits, margins, and losses based on the USDC.
The company already offers four fan tokens that include Santos FC, football club Lazio, FC Porto, and Alpine Formula 1.
Binance has perfectly timed the launch of their Football Fan Token Index as most football seasons are imminent or have already begun. Moreover, the most popular 2022 FIFA world cup is also scheduled from 20 November to 18 December in Qatar.
Fan tokens are an excellent way for football clubs to generate a new source of revenue by providing membership benefits to their fans. As a result, fan tokens have grown immensely, and several renowned football clubs offer them, such as Barcelona, Atletico Madrid, Manchester City, Porto, AC Milan, and more.
Like other cryptocurrencies (such as Bitcoin), fan tokens can be traded on exchanges and share a few similarities.
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