Launch Times:

• PUNDIXUSDT: April 30, 2025, at 13:00 (UTC)
• CTKUSDT: April 30, 2025, at 13:15 (UTC)

Both contracts are USDT-margined and will support leverage up to 75x.

About Pundi X (PUNDIX) and Shentu (CTK)

• Pundi X is a project focused on developing blockchain-powered point-of-sale (POS) devices, aiming to revolutionize the retail sector through blockchain technology.
• Shentu (CTK) is a security-first, delegated proof-of-stake (DPoS) blockchain designed to enable secure operations in critical applications such as DeFi, NFTs, and autonomous vehicles.

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Technical Specifications

The PUNDIXUSDT and CTKUSDT perpetual contracts are tradable 24/7 and allow users to open both long and short positions. These contracts are cash-settled in USDT.

• Maximum Leverage: 75x
• Funding Rate: ±2.00%
• Funding Interval: Every 4 hours
• Tick Size: 0.0001

These new perpetual products offer traders flexibility to develop complex strategies, with consistent funding rates and high leverage being particularly appealing for professional users.

Both contracts are compatible with Binance’s Multi-Assets Mode, allowing users to trade using not just USDT, but other assets such as BTC as margin—offering increased flexibility in capital allocation.

Additionally, Binance confirmed that these contracts will be available for Futures Copy Trading within 24 hours of launch. This allows users to follow and copy trades of experienced traders, helping newer participants engage in futures markets more effectively.

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To ensure a seamless experience for its users, Binance stated it will temporarily suspend CTK token deposits and withdrawals on November 19, 2024, at 06:00 AM  to support the network upgrade and hard fork.

Key Points to Note:

– The trading of tokens on the specified network will not be affected.

– Binance will handle all technical requirements on behalf of its users.

– Deposits and withdrawals for tokens on the upgraded network will resume once the network is deemed stable.

What Is a Hard Fork? 

A hard fork is a protocol update that validates previously invalid blocks or transactions. In such cases, all nodes or users must upgrade to the latest version of the protocol software. In simpler terms, a hard fork is a permanent divergence from the previous version of the blockchain.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Binance Will Support the CTK Coin Network Upgrade! appeared first on Coin Engineer.

Key Details of the Upgrade and Hard Fork

– Upgrade Time: The network upgrade and hard fork will occur when the blockchain reaches block height 20,949,300, approximately at 12:00 UTC on October 30, 2024.

– Scope: Although deposits and withdrawals will be halted, Shentu (CTK) token trading will continue without interruption. Users can trade tokens on Binance as usual.

– Technical Support: Binance will manage all technical requirements to ensure user security, meaning users will not need to take any technical actions during this process.

User Security

Binance aims to prioritize user security during network upgrades and hard fork processes. Crypto exchanges typically monitor token trading volume or price fluctuations during such upgrades, which are often done to enhance token security and performance. Binance will take technical precautions to prevent any negative impact on users and will resume deposit and withdrawal operations once the upgrade is complete.

Points of Interest

This announcement highlights the importance of network updates in the crypto ecosystem. These upgrades make the network more secure, scalable, and efficient. However, the technical details can be confusing for many users. Binance’s focus is on providing secure trading for its users while keeping them away from complex technical processes.

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The post Support for Binance Shentu (CTK) Network Upgrade and Hard Fork! appeared first on Coin Engineer.