Last weekend, @ BITstocks_CN opened a public beta for its margin account, which our friends in the industry must be familiar with. You can now use leverage to buy US stocks! Of course, currently the leverage ratio is very moderate, not exceeding 1.6 in the early stage. I think it is still suitable for asset forms such as the US stock market. It is not as suitable for high leverage PVP of 10 times and 20 times as Meme In the language familiar to our circle, the leverage of BIT is closer to AAVE's "leverage" of lending funds by mortgaging high-quality assets to improve capital efficiency, but the lender has changed from a pool to a securities firm. There is a significant difference between the open close lever and the Perp lever 1. Borrowing cost vs. Funding rate Friends who play contracts know that if you go long on a bullish target for a long time, the wear and tear of the Funding Rate is actually quite astonishing. Generally speaking, it meets the two attributes of "long-term+popular", and the cost of Funding Rate is definitely much higher than the cost of borrowing interest rates. That's also why Perp tends to be more focused on pure trading, with short-term and mid short term trading as the main focus, and rarely long-term trading For targets like the US stock market, the medium and long term may be more in line with the needs of the vast majority of people, so leveraging through financing accounts is naturally more suitable for the US stock market 2. Liquidation and liquidation In addition to the fact that contracts usually start at three to five times, and 10 to 20 times is a common high leverage that leads to a large amount of liquidation and liquidation, the liquidation method of contracts is also different from lending. Usually, it is a simple and crude liquidation based on Mark Price. That's also why I often saw the phenomenon of up and down pins, even the heaven and earth pins, in the cryptocurrency circle before. However, when it comes to Perp trading in the US stock market, due to the limited duration of spot trading, the operational status of Perp during market closure is quite intriguing. This includes the price sources cited by Oracle, how to calculate Fair Price after market closure, and Oracle update rules during after hours, weekends, and major events such as financial reports. BIT, a type of securities financing, is similar to traditional Margin Call, focusing only on spot trading. In extreme market conditions, you even have enough time to partially close positions or replenish margin, which is much more friendly 3. Dividends! This may be a point that many people overlook, after all, most of the "governance tokens" in our circle, whether you hold spot or Perp is essentially the same... But stocks are different. You can buy more real stocks through your financing account before the dividend day, and naturally receive more dividends. Compared to Perp, which only provides one price exposure, this is a real and greatly differentiated feature. During the current public testing period, users who are using financing for the first time can borrow for 30 days with zero interest, which is quite popular. Friends in need can come and experience it. Personally, I am more looking forward to the option function after BIT. With leverage and options, there will be even more tricks to play! If you haven't used BIT yet, I strongly recommend it to friends who want to speculate in the US stock market. Convenient stablecoin deposit and withdrawal, beautiful stocks, easy account opening without CRS. Compared with the traditional volume traders, the friendship between the old iron and the old iron in our currency circle is full, which is really "a necessary medicine for home stock trading"