Binance Expands Derivatives Options with PHAROS and STAR Launch

Binance, a leading cryptocurrency exchange, is preparing to introduce perpetual futures contracts for Pharos (PHAROS) and Star Power (STAR) on May 14. This move comes as part of the exchange's ongoing efforts to broaden its derivatives offerings.

The PHAROS perpetual contract will support up to 20x leverage, while the STAR contract will have a maximum leverage of 3x. Perpetual futures are derivative contracts that allow traders to speculate on an asset's price without an expiration date, using funding rates to keep the contract price aligned with the spot market.