Early Listing Announcement for Kite Token from Binance

The world's largest cryptocurrency exchange Binance has started pre-market trading for a new altcoin called Kite (KITE). The KITE token will be traded with a maximum leverage of 5x in the Tether (USDT) margined perpetual futures contract, as announced on Wednesday, October 29.

Kite (KITE) aims to build an AI-centric payment blockchain. The core objective of the project is to provide an infrastructure where autonomous AI agents can transact with verifiable identities and have programmable governance features. The total supply of the token has been set at 10,000,000,000 KITE.

Binance has announced that during the pre-market period, price calculations (Mark Price) will be limited to a range of ±%1 for each second. The price index will gradually transition to standard mark price calculation once sufficient data is formed in the spot markets. During this process, open positions and orders will be preserved, and no interruptions will occur.

After the pre-market trading ends, the funding rates will begin to operate according to the standard perpetual futures contract rules, with maximum and minimum funding rates set within the +%2.00 and -%2.00 range. Binance also stated that the new futures contract supports the Multi-Assets Mode feature. This feature allows users to trade with different collateral assets such as Bitcoin (BTC).

This early listing provides investors with an opportunity to observe the market impact of the Kite Token. Understanding how prices will be shaped and keeping track of future developments related to Kite will be an important step for investment strategies.