According to the announcement from Binance, the platform will close all positions and conduct an automatic settlement on the USDⓈ-M HIFIUSDT and BAKEUSDT perpetual contracts at 2025-10-03 09:00 (UTC). Following the settlement, these contracts will be delisted. Users are advised to close any open positions before the delisting time to avoid automatic settlement. Starting from 2025-10-03 08:30 (UTC), users will not be allowed to open new positions for these contracts.
During the final hour leading up to the scheduled settlement time, the Futures Insurance Fund will not support the liquidation process for these futures contracts. Any liquidation triggered during this period will be executed as a single Immediate or Cancel order (IOCO), which will be offloaded into the market in one attempt. If the IOCO execution leaves sufficient assets in the user's account to meet the required Maintenance Margin, the liquidation will cease. However, if the IOCO fails to reduce the position to meet Margin Maintenance requirements, any unfilled portion will be resolved through the Auto-Deleveraging (ADL) process. Users are strongly advised to monitor and manage open positions during this final hour due to potential heightened volatility and reduced liquidity.
To protect users and mitigate risks in extremely volatile market conditions, Binance Futures may implement additional protective measures for these contracts without further notice. These measures could include adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price. Users should remain vigilant and manage their positions accordingly.
Catherine
