BlockBeats reported on August 5 that Extended, a blockchain-based perpetual futures trading platform, introduced its RWA Prime market. Unlike a standard RWA market, RWA Prime lets users trade tokenized equity perpetuals that most other venues have not yet listed.
24/5 trading and a SOFR-linked fee model
Trading on RWA Prime is either available 24/5 or limited to regular stock exchange hours. The market pauses over weekends, on public holidays for the underlying equities, and outside regular trading sessions, but open positions stay active during those pauses.
The funding rate mechanism uses the Secured Overnight Financing Rate (SOFR) as its benchmark. Because the market operates on a request-for-quote model without a real underlying order book, the funding rate is driven by the skew in open interest rather than by bid-ask spread impact premia seen in traditional perpetual contracts.
Which tickers are live
As of August 5, roughly 36 stock tickers were available on RWA Prime, spanning several sectors:
- Semiconductor capital equipment: KLA Corp, Microchip Technology
- Wafer foundry: GlobalFoundries
- Electronic design automation: Synopsys, Cadence
- Chinese ADRs: PDD Holdings
- Cloud computing and software: Datadog, Autodesk, Shopify
- Bitcoin miners: MARA Holdings, Riot Platforms, CleanSpark, IREN Limited