Binance to Enable Latest Price Protection Mechanism for BULLA Perpetual Contracts

Odaily reports: Binance has announced that, due to price discrepancies in BULLA spot prices across multiple exchanges and restrictions on deposits and withdrawals, it will enable the Latest Price Protection (LPP) mechanism for the USD-margined BULLAUSDT perpetual contract at 14:00 on October 28. This mechanism will be implemented gradually through smoothed adjustments to the mark price, which will be calculated based on the average latest traded price of the perpetual contract within a certain limited range. Once spot prices across exchanges converge and the spot market is able to provide a stable index price, Binance will decide to end LPP and will separately announce arrangements for restoring the standard mark price calculation method.