Binance has listed two new leveraged tokens for trading – XLM UP and XLM DOWN. Both trading pairs will go live on 11th December 2020 at 7:00 AM UTC. These XLM UP/DOWN tokens allow users to do leverage trading inside spot market.
This means if you buy XLM UP, it will give you leveraged gains if Stellar Lumens (XLM) price increases in value. Similarly, if you think XLM price will go down, buying XLM DOWN leveraged token will quantify your gains.
Price of XLM UP or DOWN tokens change in notional amount of perpetual contract positions in basket and changes in multiples of leverage level.
Also, just like other Binance Leveraged tokens, target leverage range of XLM UP or XLM DOWN will be adjusted between 1.25x to 4x.
If you have not done leverage trading or have no idea about risks involved in it, we suggest simply doing spot trading XLM against USDT, BNB and ETH on Binance.
In addition to XLM UP/DOWN tokens, Binance will also be adding XLM / EUR pair on the very same date and time – 2020/12/11 10:00 AM (UTC).