Saw it from a post
Binance will list the SPCXUSD1 Perpetual Futures contract tomorrow (July 20)
Trading opens at 17:00 (Beijing time). Maximum leverage is 25x. Minimum order is 0.01 SPCX.
The key point is: the settlement asset is USD1, not USDT.
My first reaction:
This isn’t just a matter of adding a contract.
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First, let’s talk about the underlying asset itself—SpaceX.
IPO on June 12. Opening price was $135. It closed at $160 on day one.
Then it kept falling. It has already broken below its issue price—down nearly 45% from its peak.
There will be another lock-up release in early August, with 123 billion dollars’ worth of shares set to be released.
So at this timing, SpaceX contracts won’t lack volatility.
With 25x leverage, you can make money fast—and lose money fast too. Don’t get carried away.
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But what I care about more is the USD1 layer.
I’ve been tracking USD1.
Previously, it mainly relied on Binance and Bybit’s holding rewards to attract volume, and there were also on-chain incentives.
But honestly, rewards can bring people in, yet they can’t keep them.
This time is different.
It’s directly used as the futures settlement asset for the period.
If you want to open a SpaceX contract, your margin has to be USD1.
Funding is settled once every 8 hours, and the funding is also in USD1.
Not “you can choose to use it”—you can only use it.
The rewards campaign is basically an invitation for you to come sit at the table.
This is a completely different situation—here you must hold it to be allowed at the table.
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Think one step further:
Anyone who wants to trade this contract has to go swap in USD1 first.
That’s short-term buy-side demand.
Funding is settled every 8 hours, and USD1 will keep circulating inside the system.
That’s ongoing liquidity.
And because SpaceX is itself such a hot topic, the exposure is far stronger than those previous on-chain reward campaigns.
Of course, risks are there too.
SpaceX is currently trading below its issue price, volatility is high, and there won’t be few people who get wrecked with 25x leverage.
USD1’s connection to the Trump family is also being watched—regulators have had eyes on it for a long time.
Even previously, a Democratic senator requested a hearing.
So my view is:
In the short term, it’s driven more by sentiment and flow; in the long term, we need to see whether USD1 can keep maintaining settlement use cases like this.
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After it goes live tomorrow, pay attention to these details:
The actual trading volume of SPCXUSD1, and the changes in USD1 holdings on Binance.
The former tells you whether the contract itself can really run.
The latter tells you whether new money is coming in because of this contract.
For anyone who wants to participate: manage leverage well.
At this point, SpaceX’s direction is unclear—don’t bet with a big position.
Not investment advice. DORY
#USD1