OKX is excited to announce the official launch of IDUSDT Perpetual Swaps on our web, app, and API platforms, along with ID/USDT Margin Trading and Simple Earn products. This expansion offers more flexibility and earning opportunities for traders and investors.
These new offerings are designed to meet growing user demand for diversified trading and investment strategies within the crypto ecosystem.
📈 Overview of New ID Features
OKX has expanded its product suite to include innovative ways to engage with the ID token. These new features provide users with advanced tools for trading and earning.
Leverage Trading and Simple Earn
Leverage trading allows you to borrow funds to amplify your trading position, potentially increasing both profits and losses. Simple Earn offers a straightforward way to generate yield on your idle assets.
The ID/USDT trading pair for margin trading went live, enabling users to take long or short positions with borrowed funds.
Specific margin level requirements and tiered loan-to-value ratios can be found directly on the platform after launch to help you manage risk effectively.
For those interested in a more passive approach, Simple Earn provides a fixed income product. The available subscription limits for these savings products are displayed within the dedicated Simple Earn section.
👉 Explore more earning strategies
Understanding Perpetual Swaps
Perpetual swaps are a type of derivative contract that allows traders to speculate on the future price of an asset without an expiration date. They are popular for their flexibility and around-the-clock trading.
The newly launched IDUSDT perpetual swap contract has the following specifications:
| Contract Element | Details |
|---|---|
| Underlying Asset | ID/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 10 ID |
| Price Quotation | Price of 1 ID in USDT |
| Minimum Price Movement | 0.0001 |
| Leverage | 0.01x to 20x |
| Funding Rate Calculation | A specific formula based on the contract mid price and the spot index price, with an initial cap of 0.03%. |
| Trading Hours | 24/7 |
A temporary funding rate cap was implemented initially to ensure stability during the launch phase. This mechanism helps create a fair trading environment as the new market matures.
All other standard trading rules for USDT-margined perpetual swaps, such as limit order specifications, apply to the ID contract as well. These rules are consistent across the platform for user convenience.
🔍 Frequently Asked Questions
What are perpetual swap contracts?
Perpetual swaps are derivative products that let you speculate on an asset's price direction using leverage. Unlike futures, they have no expiry date, and a funding rate mechanism helps keep the contract price aligned with the spot price.
How does margin trading work on OKX?
Margin trading allows you to borrow funds to open larger positions than your account balance would allow. This can magnify gains but also increases potential losses. It's crucial to understand the risks and use risk management tools like stop-loss orders.
What is Simple Earn?
Simple Earn is a product that allows you to earn interest on your cryptocurrency holdings. You can subscribe to fixed-term offers and generate a yield on assets you are not actively trading.
What was special about the funding rate at launch?
To ensure a smooth market debut, a temporary funding rate cap of 0.03% was in place for the first day. This precaution is common for new listings to prevent excessive volatility caused by premature funding rate mechanisms.
Are these products available in all regions?
Availability of specific products like perpetual swaps and margin trading is subject to local laws and regulations. Users should check their respective jurisdiction's rules and OKX's terms of service to confirm access.
How can I learn more about trading with leverage?
It's highly recommended to study educational resources on leverage and risk management before engaging in margin or perpetual swap trading. Understanding concepts like liquidation price is essential for protecting your capital.
The introduction of ID perpetual swaps, margin trading, and Simple Earn provides our users with more tools to execute their trading and investment visions. We are committed to continuously enhancing our platform with secure, innovative, and user-centric products.