Binance Futures Launches Rocket Pool Perpetual Contract, RPL Price Up by 30%

Key Points

• Binance Futures announced the launch of RPL Perpetual Contract today.
• RPL price surged by 30% today.

In an official announcement, Binance revealed the launch of RPLUSDT Perpetual Contract on Binance Futures later today.

Futures listings are part of the exchange’s ongoing efforts to expand the offerings for users and to enhance their trading experience.

RPLUSDT Perpetual Contract Details

Here are the key details about the RPLUSDT Perpetual Contract launch today:

• Launch time is 12:30 (UTC).
• The underlying asset is Rocket Pool (RPL).
• The settlement asset is USDT.
• The tick size is 0.01.
• The capped funding rate is +2%/-2%.
• The funding fee settlement frequency is set every four hours starting today at 16:00 (UTC).
• Maximum leverage is 75x.
• Trading hours are 24/7.
• Multi-Asset Mode is supported.

According to the official announcement, Binance may adjust the specifications of the futures contract mentioned above from time to time.

These specifications include the following:

• Funding fee
• Tick size
• Maximum leverage
• Initial margin
• Maintenance margin requirements

Multi-Assets Mode allows users to trade the Perpetual Contract across multiple margin assets. For instance, when the Multi-Assets Mode is activated, users can use BTC as margin when trading RPLUSDT.

The Perpetual Contract is subject to Binance Terms of Use and the Binance Futures Service.

What is Rocket Pool (RPL)?

Rocket Pool is a decentralized Ethereum staking pool that offers up to 4.33% APR for ETH2 staking. Users can join the Rocket Pool with its decentralized node operator network to run their own nodes with only 16 ETH.

Rocket Pool provides liquid staking which means that users can benefit from an increasing exchange rate instead of adding on to their initial staked collateral.

Rocket Pool also offers smart nodes.

Today, ahead of the Binance Futures listing, Rocket Pool (RPL)’s price surged by around 30%. At the moment of writing this article, RPL is trading above $12 and the token has a market cap of almost $250 million.