Binance Futures Launching Perpetual Contract for Basic Attention Token (BAT)

On Wednesday (February 12), digital asset exchange Binance announced that its futures trading platform, Binance Futures, which went live in September 2019, is launching a perpetual contract for Basic Attention Token (BAT).

Here is how Binance Info describes BAT:

"BAT (Basic Attention Token), a token for a decentralized ad exchange. It compensates the browser user for attention while protecting privacy. BAT connects advertisers, publishers, and users and is denominated by relevant user attention, while removing social and economic costs associated with existing ad networks, e.g., fraud, privacy violations, and malvertising. BAT is a payment system that rewards and protects the user while giving better conversion to advertisers and higher yield to publishers. We see BAT and associated technologies as a future part of web standards, solving the important problem of monetizing publisher content while protecting user privacy."

Binance Futures' new product is being launched at 08:00 (UTC) on 13 February 2020.

According to Binance's announcement, "to prevent market manipulation, Binance will implement a pricing limit of ±1% on the mark price within the first 30 minutes after trading starts."

Also, it is worth keeping in mind that, as with the ONT/USDT perpetual contract, which was announced on Monday, "perpetual contracts on Binance Futures are similar to the trading pairs on the spot market," and they are "priced and settled in the same manner."

Binance Futures users will be able to choose between 1x and 50x leverage.

Here are some of the main specifications for the contract:

  • Base Asset: BAT
  • Quote Asset: USDT
  • Settlement Asset: USDT
  • Contract Unit: 1 BAT
  • Tick Size: 0.0001
  • Minimum Contract Quantity: 0.1
  • Maximum Contract Quantity: 1 million
  • Base Initial Margin Rate: 1.3%
  • Base Maintenance Margin Rate: 0.65%
  • Liquidation Fee: 0.5%

The other 18 perpetual contracts being offered by Binance Futures are BTC/USDT, ETH/USDT, BCH/USDT, XRP/USDT, EOS/USDT, LTC/USDT, TRX/USDT, ETC/USDT, LINK/USDT, XLM/USDT, ADA/USDT, XMR/USDT, DASH/USDT, ZEC/USDT, XTZ/USDT, ATOM/USDT, BNB/USDT, and ONT/USDT.

According to data from CryptoCompare, BAT is currently trading $0.3136, up 11.88% in the past 24-hour period:

BAT-USD 24 Hour Chart on 12 Feb 2020.png

Featured Image Courtesy of Binance