This announcement covers the official launch of new trading services for a selection of popular tokens. The update introduces leverage trading, savings products, and perpetual contracts, providing users with more ways to interact with these digital assets.
The launch is comprehensive, encompassing the web terminal, mobile application, and API interfaces to ensure all types of traders have access.
New Leverage Trading and Savings Features
A key part of this update is the introduction of margin trading and savings for two specific tokens.
- New Leverage Trading Pairs: Users can now trade with leverage on the
STARL/USDTandGODS/USDTtrading pairs. This allows for amplified exposure to these assets' price movements. - Savings Product Integration: The tokens have also been integrated into the savings service, allowing users to earn interest on their idle assets.
It is important for users to understand the specific risk parameters associated with these new products.
- Leverage Tiers: The platform employs a graduated margin system for these pairs. The specific levels and corresponding maintenance margins are designed to manage risk and can be reviewed in the official leverage tier documentation after the launch.
- Savings Limits: The allocation limits for these assets within the savings service are subject to change based on market conditions. The most current details can be found in the platform's savings rules.
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Detailed Look at the New Perpetual Contracts
The launch includes five new USDT-margined perpetual contracts, offering continuous trading without an expiry date. The core specifications for each contract are outlined below.
KISHUUSDT Perpetual Contract
| Contract Element | Details |
|---|---|
| Underlying Asset | KISHU/USDT Index |
| Settlement Coin | USDT |
| Contract Face Value | 1,000,000,000 KISHU |
| Price Quotation | USDT price for 1 KISHU |
| Minimum Price Movement | 0.000000000001 |
| Leverage | 0.01x - 75x |
| Funding Rate | Clamp(MA((Contract Mid Price - Spot Index Price) / Spot Index Price - Interest), -0.75%, 0.75%); Interest = 0 |
| Trading Hours | 24/7 |
ELONUSDT Perpetual Contract
| Contract Element | Details |
|---|---|
| Underlying Asset | ELON/USDT Index |
| Settlement Coin | USDT |
| Contract Face Value | 1,000,000 ELON |
| Price Quotation | USDT price for 1 ELON |
| Minimum Price Movement | 0.000000001 |
| Leverage | 0.01x - 75x |
| Funding Rate | Clamp(MA((Contract Mid Price - Spot Index Price) / Spot Index Price - Interest), -0.75%, 0.75%); Interest = 0 |
| Trading Hours | 24/7 |
STARLUSDT Perpetual Contract
| Contract Element | Details |
|---|---|
| Underlying Asset | STARL/USDT Index |
| Settlement Coin | USDT |
| Contract Face Value | 100,000 STARL |
| Price Quotation | USDT price for 1 STARL |
| Minimum Price Movement | 0.00000001 |
| Leverage | 0.01x - 75x |
| Funding Rate | Clamp(MA((Contract Mid Price - Spot Index Price) / Spot Index Price - Interest), -0.75%, 0.75%); Interest = 0 |
| Trading Hours | 24/7 |
BABYDOGEUSDT Perpetual Contract
| Contract Element | Details |
|---|---|
| Underlying Asset | BABYDOGE/USDT Index |
| Settlement Coin | USDT |
| Contract Face Value | 1,000,000,000 BABYDOGE |
| Price Quotation | USDT price for 1 BABYDOGE |
| Minimum Price Movement | 0.000000000001 |
| Leverage | 0.01x - 75x |
| Funding Rate | Clamp(MA((Contract Mid Price - Spot Index Price) / Spot Index Price - Interest), -0.75%, 0.75%); Interest = 0 |
| Trading Hours | 24/7 |
GODSUSDT Perpetual Contract
| Contract Element | Details |
|---|---|
| Underlying Asset | GODS/USDT Index |
| Settlement Coin | USDT |
| Contract Face Value | 1 GODS |
| Price Quotation | USDT price for 1 GODS |
| Minimum Price Movement | 0.0001 |
| Leverage | 0.01x - 75x |
| Funding Rate | Clamp(MA((Contract Mid Price - Spot Index Price) / Spot Index Price - Interest), -0.75%, 0.75%); Interest = 0 |
| Trading Hours | 24/7 |
Important Initial Launch Notes
For the first day of trading, a temporary measure is in place to ensure stability.
- Initial Funding Rate Cap: To account for potential initial price volatility and premium instability, the maximum funding rate was temporarily capped at 0.03% for the first settlement periods.
- Return to Standard Parameters: After this initial period, the funding rate cap returned to its standard maximum of 0.75% for all subsequent settlements.
All other trading rules, including limit order specifications and other mechanics for these new perpetual contracts, are consistent with the platform's existing USDT-margined perpetual contracts.
This expansion is part of a continuous effort to provide a robust and feature-rich trading environment, offering users a wide array of products and services for their digital asset strategies.
Frequently Asked Questions
What are perpetual contracts?
Perpetual contracts are a type of derivative product that allows traders to speculate on the future price of an underlying asset without an expiration date. They are settled in USDT and use a funding rate mechanism to keep their price aligned with the spot market.
How does leverage work in trading?
Leverage allows traders to open a position that is larger than their initial capital deposit (margin). For example, using 10x leverage, a $100 margin can control a $1,000 position. While it amplifies potential profits, it also significantly increases the risk of losses, including the possibility of losing the entire margin.
What is the purpose of a funding rate?
The funding rate is a periodic payment exchanged between long and short traders. It is designed to tether the perpetual contract's market price to the underlying spot price. A positive rate means longs pay shorts, typically when the contract is trading at a premium, and vice versa.
What are the risks of using leverage and trading derivatives?
These products are complex and carry a high level of risk. The primary risks include liquidation (losing your entire margin if the market moves against you), high volatility, and the complexities of funding rates. They are suitable for experienced traders who understand these mechanisms.
Can I earn interest on my crypto holdings?
Yes, through savings products like the one mentioned for STARL and GODS. These services allow you to deposit your idle cryptocurrencies and earn interest over time, similar to a savings account in traditional finance.
Where can I learn more about specific trading rules?
The official documentation provided by the trading platform is the best source of information. It contains detailed explanations of leverage tiers, contract specifications, fee schedules, and risk disclosures that are essential to understand before trading. 👉 Access comprehensive trading resources