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What is Contract?
A contract is an oral or written agreement that allows parties (individuals or corporations), businesses, and society to come together and work on certain objectives and needs. They are formal agreements that are legally binding. A contract, in other terms, is a legal obligation.
When constructing any construction, whether a skyscraper or a startup, you must start with a strategy and a foundation. Contracts are used by businesses to build the foundation of their professional relationships while also providing the agreed-upon processes that regulate such ties. A contract establishes how the parties will collaborate and how each party’s tasks and responsibilities will be recorded and enforced.
Latest news about Contract
- Binance’s BTC/USDT perpetual contract experienced sudden price drops from $27,100 to $2,707 between 16:00 and 16:17 UTC+8. CEO Changpeng Zhao confirmed the issue was due to a Futures Kline display issue, which did not affect trading activities. The engineering team found the root cause of the problem, which took around an hour to resolve. Binance’s proactive approach ensures uninterrupted trading activities and minimizes disruptions in the crypto trading world.
- Orderly Network and Ref Finance have partnered to introduce perpetual contracts on the NEAR blockchain, allowing traders to speculate on cryptocurrency price movements without owning the underlying assets. The partnership aims to simplify liquidity provision across pools and streamline fund allocation. Orderly Network’s omnichain protocol enables perpetual traders from various blockchain networks to engage in trading activities in a single order book, powered by Orderly’s settlement layer.
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