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Official announcement
Binance will list BRC-20 Sats (1000SATS) and open trading for these spot trading pairs at 2023-12-12 12:00 (UTC).
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New Spot Trading Pairs: 1000SATS/USDT, 1000SATS/FDUSD and 1000SATS/TRY.
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Users can now start depositing 1000SATS in preparation for trading.
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Withdrawal will open at 2023-12-13 12:00 (UTC).
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1000SATS Listing Fee: 0 BNB.
In addition, Binance will add 1000SATS as a new borrowable asset with this new margin pair on Isolated Margin, within 48 hours from 2023-12-12 12:00 (UTC).
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New Isolated Margin Pair: 1000SATS/USDT
Please refer to Margin Data for a list of the most updated marginable assets and further information on specific limits and rates.
Notes:
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1000SATS is 1000 times of SATS. For example, if a user deposits 1100 SATS to Binance, Binance will automatically show it as 1.1 1000SATS.
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The Seed Tag will be applied to 1000SATS.
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TRY is a fiat currency and does not represent any other digital currencies.
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The withdrawal open time is an estimated time for users’ reference. Users can view the actual status of withdrawals on the withdrawal page.
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Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
What are Sats and BRC – 20?
SATS is a BRC-20 token commemorating Satoshi. SATS stands for satoshi, the smallest unit of Bitcoin. One satoshi is equal to 0.00000001 BTC. Note that this token is a meme token and was created by an anonymous group. 1000SATS is equivalent to 1000 times SATS.
BRC-20 is an experimental token created through the Ordinals protocol by writing data in text form directly to the Bitcoin network. The nature of BRC-20 is that it does not have the ability to interact with smart contracts and does not have many features. However, with the participation of BRC-20 developers, there are now many more applications than when it first launched.
Related: El Salvador’s Bitcoin Volcano Bonds Receive Approval
A few notes
1000SATS is a fairly new token, which carries higher risks than normal. This is a token with high price volatility. Make sure you are a good risk manager. Besides, you have researched the fundamentals of 1000SATS and fully understood the project before deciding to trade the token.
Seed Tag represents an innovative project that may exhibit higher volatility and risk than other tokens listed. Seed Tag will be applied to 1000SATS.
To gain access to trade Seed Tag tokens, users will need to pass the corresponding tests every 90 days on the Binance Spot and/or Binance Margin platforms and accept the Terms of Use . Tests are in place to ensure users are aware of the risks before trading tokens with Seed Tags. Users can find Seed Tags on the respective Binance Spot and Binance Margin trading pages. Users can also read on the Market Overview page. A risk warning banner will also be displayed for all tokens with Seed Tags.
