Binance Futures launched two USDT-settled perpetual contracts on Sept. 6, adding markets for Pons (PONS) and the Chinese meme coin 哈基米, commonly rendered as Hajimi.
The PONSUSDT contract opened at 06:45 UTC. HajimiUSDT followed at 07:15 UTC, according to Binance announcement. Both products allow eligible traders to take leveraged positions without owning the underlying tokens.
The launches followed sharp price increases for both assets. At the time of the initial report, PONS traded near $0.891 after gaining about 23.9% over 24 hours. Hajimi was quoted near $0.0584 following an approximately 248.5% increase.
Later information on Binance Alpha showed Hajimi near $0.070 and up more than 330% over 24 hours. The difference reflects the tokens rapid movement and the timing of each price snapshot. These figures describe past trading conditions and do not establish a continuing trend.
Binance futures contracts use USDT settlement
PONSUSDT and HajimiUSDT are USDⓈ-margined perpetual contracts settled in USDT. Perpetual contracts have no scheduled expiration date. They use recurring funding payments to help keep their prices aligned with the relevant underlying markets.
Binance set the minimum order at one token for each contract. Each order must have a notional value of at least 5 USDT. The PONSUSDT tick size is 0.0001, while HajimiUSDT uses a smaller 0.00001 tick.
Both markets operate continuously, subject to maintenance and risk controls. Their funding rates are initially capped at positive or negative 2%, with funding settled every four hours. The cap does not mean traders will always pay or receive 2%. The applicable rate changes according to conditions in each market.
Multi-Assets Mode is supported. This feature lets eligible traders use approved assets other than USDT as margin, subject to Binances collateral haircuts and account rules. Binance said it would also make the contracts available for Futures Copy Trading within 24 hours of their launch.
Binances PONS leverage details contain a conflict
The published material provides inconsistent information about maximum PONSUSDT leverage. Its introductory summary says PONSUSDT offers up to 20x leverage and HajimiUSDT offers up to 3x.
However, the contract specifications table lists 3x as the maximum for both markets. That discrepancy remains material because leverage determines the amount of collateral required and how quickly an adverse price movement can trigger liquidation.
Until Binance corrects or clarifies the notice, traders should check the leverage and margin brackets displayed on the live PONSUSDT trading interface. Those operational settings determine which positions users can actually open.
Binance also reserves the right to change leverage, initial margin, maintenance margin, funding rates and tick sizes in response to market risk. Any later adjustment could therefore replace the limits shown in the launch announcement.
Even 3x leverage can create substantial losses in highly volatile markets. A roughly 33% adverse move can theoretically consume the starting margin of a fully leveraged 3x position before fees and maintenance requirements are considered. Liquidation can occur earlier because exchanges require positions to retain maintenance margin.
PONS futures follow its earlier Binance Alpha addition
Pons describes itself as a non-custodial token launchpad built on Robinhood Chain, an Ethereum Layer 2 network. Its native PONS token was added to Binance Alpha several days before the futures launch.
The Alpha addition gave Binance Wallet users access to the token but did not amount to a regular Binance Spot listing. The new perpetual contract also does not change that status. Binance explicitly says that futures and spot listing decisions are separate.
Pons had already recorded fast growth before the derivatives announcement. The protocol reported $5.95 million in daily fees in early September, while its token reached a then-record price above $0.52. The project also recorded more than $719 million in cumulative decentralized exchange volume at the time.
The figures were covered when Binance Alpha added PONS and FLORK. PONS subsequently climbed above the level reported in that earlier coverage. Crypto.com showed the token near $0.890 with approximately $200 million in daily trading volume on Sept. 6, broadly supporting the price cited around the Binance futures launch.
In related coverage, Uniswap Labs purchased PONS without disclosing the size, price or structure of the purchase. That transaction should not be interpreted as a guarantee of demand or future performance.
Hajimis rapid rally raises liquidation risk
Hajimi is a meme coin whose name is written as 哈基米 in Binances contract specifications. The announcement describes it simply as a Chinese meme coin and does not identify additional utility, revenue or governance functions.
Binance Alpha data showed Hajimi trading near $0.070 after the derivatives market opened. Its recorded 24-hour range extended from about $0.016 to $0.145. That spread demonstrates the difficulty of relying on a single price when an asset is moving rapidly.
The same data showed approximately $30.3 million in 24-hour volume and an estimated $70 million market capitalization. Those figures are snapshots and can change quickly. Market capitalization is also based on reported supply and token price, rather than cash held by the project.
A futures listing can increase access to an asset by allowing traders to take long or short exposure. It does not show that the exchange has endorsed the tokens value, security or long-term prospects. It may also increase volatility as leveraged positions build and liquidations produce forced orders.
Previous meme coin futures launches have produced similarly abrupt market moves. For example, Fartcoin rose following a Binance futures announcement, although historical reactions cannot predict how PONS or Hajimi will trade.
Funding rates and leverage updates are the next checks
The first operational data to watch are open interest, trading volume and four-hour funding rates. Positive funding generally means long positions pay short positions. Negative funding normally reverses that transfer. Extreme rates can show that positioning has become concentrated on one side.
Binance may alter the funding interval or capped rate during volatile conditions. It may also change position limits and margin tiers. Traders should use the live contract page rather than the original announcement when the two provide different specifications.
Futures Copy Trading support was scheduled to arrive within 24 hours of launch. Binance did not announce conventional Spot listings for either asset. PONS and Hajimi therefore remain separate cases from tokens admitted to Binances main spot exchange.
Regional restrictions also apply. Binance said the announced products may not be available in every jurisdiction. Users remain responsible for checking whether derivatives trading is permitted where they live.