Binance will implement the latest Price Protection Mechanism for the ONE Perpetual Futures Contract

BlockBeats News, August 14, due to a security incident on Harmony (ONE) causing abnormal spot prices on multiple exchanges, Binance Futures will implement the latest price protection (LPP) mechanism on the ONE USDT perpetual contract on August 14 at 20:00 UTC, ensuring users' assets are not affected.

The mark price will be calculated based on the moving average of the past 10 seconds and smoothly transitioned, with a maximum ±1% price change per second; the funding rate limits will also be narrowed from ±2.000% to ±0.005%. Once the ONE spot price stabilizes across exchanges, the LPP period will end, the standard mark price calculation will resume, and further announcements will be made.