PANews reported on June 10 that Binance will automatically liquidate the PUMPUSDT U-margin perpetual contract at 17:00 on June 13 and rename it to PUMPBTCUSDT U-margin perpetual contract. After the liquidation is completed, the original contract will be removed. Users must close their positions before 16:30 to avoid automatic settlement. The new contract will be launched at 18:00 on the same day, supporting up to 50 times leverage and supporting multi-asset mode as margin.

It is reported that PUMPBTC is Babylon's liquidity staking solution, which aims to integrate the BTC derivatives market and expand the BTCFi territory.