Binance Futures, the leading cryptocurrency derivatives platform, has announced the launch of a new trading product, the USDⓈ-M 1000RATS Perpetual Contract.
This product, which went live on December 15, 2023, at 14:00 UTC, is an innovative addition to the crypto market, as it allows traders to speculate on the price movements of the BRC-20 token 1000RATS.
About the 1000RATS Perpetual Contract
1000RATS is a BRC-20 token representing 1000 RATS, another BRC-20 token pegged to the value of one satoshi, the smallest unit of Bitcoin. RATS stands for Rats Are The Standard, a slogan that reflects the belief that Bitcoin is the ultimate standard of value in the crypto space.
1000RATS was created to facilitate trading and arbitrage opportunities for RATS, as well as to reduce the decimal places and increase the readability of the token’s price.
The 1000RATS Perpetual Contract is a derivative product that allows traders to buy or sell 1000RATS at a predetermined price in the future without an expiry date. The contract is paired against USDT, the stablecoin that is pegged to the US dollar and offers a leverage option of up to 50x, meaning that traders can amplify their profits or losses by up to 50 times their initial margin.
The contract also has a tick size of 0.00001, which is the minimum price movement of the contract, and a capped funding rate of +2.00% / -2.00%, which is the periodic payment that traders exchange based on the difference between the contract price and the spot price. The funding fee settlement occurs every four hours, ensuring that the contract price is aligned with the market price.
Traders can trade the 1000RATS Perpetual Contract 24/7, and Binance supports Multi-Assets Mode, which allows traders to use other assets like BTC as collateral for their margin.
Benefits of trading the 1000RATS Perpetual Contract
Trading the 1000RATS Perpetual Contract has several benefits for traders, such as:
- Accessing a new and innovative trading product that is based on a BRC-20 token
- Taking advantage of the high leverage option of up to 50x, which can magnify the potential returns or losses
- Hedging against the price fluctuations of 1000RATS and other BRC-20 tokens
- Benefiting from the 0.005% maker fee rebate for qualified USDⓈ-margined futures liquidity providers, which is a temporary incentive that lasts for about two weeks
- Supporting the development and adoption of BRC-20 tokens, which are a new class of tokens that run on the Binance Smart Chain
How the 1000RATS Perpetual Contract affects the BRC-20 token market
The launch of the 1000RATS Perpetual Contract by Binance Futures has coincided with a remarkable rally of BRC-20 tokens, such as RATS, SATS, and ORDI.
These tokens have seen impressive gains, with RATS and SATS yielding 610.6% and 329.9% weekly gains, respectively. ORDI, although not as high in returns, boasts a significant market capitalization and trading volume, reflecting a 10% increase in the same period.
The BRC-20 token market has been fueled by several factors, such as:
- The growing popularity and innovation of the Binance Smart Chain, which is a fast, cheap, and secure blockchain platform that supports smart contracts and decentralized applications
- The increasing demand and adoption of BRC-20 tokens, which offer various use cases and benefits, such as governance, utility, rewards, and meme value
- The listing of 1000RATS on Binance Futures and the introduction of 1000SATS in spot trading which have increased the exposure and liquidity of these tokens
- The positive sentiment and hype surrounding the BRC-20 token community which has attracted more investors and users to join the movement
The 1000RATS Perpetual Contract is expected to further catalyze the interest and investment in BRC-20 tokens, as it provides a new way to trade and profit from these tokens. At present, 1000SATS is trading at $0.0007934, while ORDI is priced at $56.92 on Binance.
