OKEx Launches USDT-margined Perpetual Swap Trading
VALLETTA, Malta, Dec. 5, 2019 /PRNewswire/ -- OKEx (www.okex.com), the world's largest futures cryptocurrency exchange, is set to launch the USDT-margined Perpetual Swap Trading, a linear contract, on December 16, 2019, after the recent launch of USDT Futures Trading. While it allows users to long or short a position to profit from or hedge against the rise or decline of a digital asset's price, there is no contract expiry nor the need for roll-over. USDT-margined Perpetual Swap offers 9 types of trading pairs including BTC, EOS, ETC, ETH, LTC, BCH, BSV, TRX and XRP with a leverage level of 0.01-100x to maximize users' trading strategy.
OKEx Perpetual Swap, one of the most popular derivative products of its portfolio throughout the year, is a synthetic margin trading instrument that saves traders from the hassle of re-opening new positions and paying extra transaction fees for a new contract, making it an ideal instrument for long-term investment or risk hedging. Upon its launch, the trading volume of the never-expiring contract has continued to break its record high thanks to its well-received highly leveraged nature. The USDT Perpetual Swap is quoted and settled in USDT digital tokens, and each contract has a face value of fixed amount of digital token with no expiry date.
Key features of OKEx USDT-margined Perpetual Swap Trading include:
- No contract expiry
- Leverage level: 0.01 to 100x
- Supported pairs: BTC, EOS, ETC, ETH, LTC, BCH, BSV, TRX and XRP
- Daily Settlement
"OKEx has been at a stage where we kept evolving. We received great response from users after the launch of USDT futures trading last month. It has been a good example of us demonstrating our commitment in cultivating a good vibe in the derivatives space," said Jay Hao, CEO of OKEx. "Our goal is to provide a one-stop shop for professional and retail traders, offering both spot and derivatives product portfolio at one place. We're always working to meet the needs of users in a shifting global economy and cryptocurrency ecosystem."
OKEx has adopted an enhanced risk management system for derivatives, which includes:
- Mark Price -- Well-established mark price system to effectively avoid huge fluctuations and unusual liquidation
- Tiered Maintenance Margin Ratio (TMMR) System -- to avoid liquidation of large positions and its after-effect on market liquidity
- Forced Partial Liquidation Mode -- to eliminate the market impact caused by many liquidated orders
USDT Perpetual Swap Simulation
From now to December 11, 2019, users can try out the trading simulation to get familar with BTCUSDT, ETHUSDT and EOSUSDT perpetual swap and get a chance to win daily and grand prizes, totaling 50,000 USDT up. Participant can obtain virtual money of 10,000 USDT each to the Perpetual Swap accounts for trial trading, i.e. 30,000 USDT in total. The virtual money is only for USDT-margined Perpetual Swap Trading and cannot be transferred or withdrawn.
Factsheet of USDT-margined Perpetual Swap
For more details of OKEx USDT-margined Perpetual Swap, please visit OKEx website and stay tuned on OKEx's Twitter.
About OKEx
OKEx is a world-leading digital asset exchange headquartered in Malta, offering comprehensive digital asset trading services including fiat-to-token trading, spot trading, futures trading, and perpetual swap trading to traders globally with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimize their strategies.
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