This announcement covers the official launch of trading services for two digital assets: CTC and TURBO. Users can now access a suite of tools including perpetual contracts, margin trading, and Simple Earn products for these tokens, all paired with USDT.
The launch is structured to provide a seamless trading experience across web, mobile app, and API interfaces, incorporating industry-standard risk management protocols.
Available Trading Products and Launch Schedule
The new trading services for CTC and TURBO were introduced according to the following timeline:
For CTC (CTCUSDT):
- Perpetual Contracts: Launched at 4:00 PM UTC+8 on December 14, 2023.
- Margin Trading & Simple Earn: Launched at 3:30 PM UTC+8 on December 14, 2023.
For TURBO (TURBOUSDT):
- Perpetual Contracts: Launched at 6:00 PM UTC+8 on December 14, 2023.
- Margin Trading & Simple Earn: Launched at 5:30 PM UTC+8 on December 14, 2023.
Details on Margin Trading and Simple Earn
The launch of these assets includes integrated support for leveraged trading and earning products.
- Both CTC and TURBO are available for margin trading through their USDT trading pairs.
- The specific leverage tiers and margin requirements are based on a graduated level system. Traders should consult the platform's official guide on leverage and margin levels for the most current details.
- Availability and terms for Simple Earn products, including subscription limits and APY, are outlined in the platform's dedicated Simple Earn rules section.
Comprehensive Perpetual Contract Specifications
Perpetual contracts for these assets allow traders to speculate on future price movements without an expiry date.
CTCUSDT Perpetual Contract
| Contract Element | Details |
|---|---|
| Underlying Asset | CTC/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 10 |
| Price Quotation | USDT price per 1 CTC |
| Minimum Price Movement (Tick Size) | 0.0001 |
| Leverage | 0.01x to 50x |
| Funding Rate | Clamp(MA([(Contract Best Bid + Contract Best Ask) / 2 – Spot Index Price] / Spot Index Price – Interest), -0.75%, 0.75%), where Interest = 0 |
| Trading Hours | 24/7 |
TURBOUSDT Perpetual Contract
| Contract Element | Details |
|---|---|
| Underlying Asset | TURBO/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 10,000 |
| Price Quotation | USDT price per 1 TURBO |
| Minimum Price Movement (Tick Size) | 0.0000001 |
| Leverage | 0.01x to 20x |
| Funding Rate | Clamp(MA([(Contract Best Bid + Contract Best Ask) / 2 – Spot Index Price] / Spot Index Price – Interest), -0.75%, 0.75%), where Interest = 0 |
| Trading Hours | 24/7 |
Important Notes on Funding Rates
Due to potential price volatility and premium instability for new contracts, temporary measures were applied to the funding rate calculation:
- Until 00:00 (UTC+8) on December 15, 2023, the upper limit for the calculated funding rate was capped at 0.03%.
- After 00:00 (UTC+8) on December 15, 2023, the upper limit for the predicted funding rate was adjusted back to the standard 1.50%. The first actual collection of funding fees at this new rate occurred at 4:00 PM (UTC+8) on December 15, 2023.
All other trading rules for the CTCUSDT and TURBOUSDT perpetual contracts, including limit order specifications, align with existing tokens. For a full understanding of the mechanics, please refer to the official 👉 guide to USDT-margined perpetual contracts.
Frequently Asked Questions
What are perpetual contracts?
Perpetual contracts are a type of derivative product that allows you to speculate on the future price of an asset without an expiration date. They are settled periodically through a funding rate mechanism to keep the contract price aligned with the spot price.
How does the funding rate work?
The funding rate is a fee paid between long and short traders to tether the contract's market price to the spot index price. If the rate is positive, long positions pay shorts; if negative, shorts pay longs. Rates are calculated and applied periodically.
What is the difference between margin trading and perpetual contracts?
Margin trading involves borrowing funds to amplify your buying power in the spot market, where you directly own the asset. Perpetual contracts are derivatives where you speculate on price movements without owning the underlying asset, often with higher leverage options.
Is there a risk to using leverage?
Yes, using leverage significantly amplifies both potential profits and potential losses. It is possible to lose more than your initial margin deposit. It is crucial to understand risk management tools like stop-loss orders before engaging in leveraged trading.
How can I start earning with Simple Earn?
Simple Earn allows you to subscribe your idle assets to earn interest. You can typically choose between flexible products for liquidity or fixed-term products for higher yields. Always check the specific terms and APY for each asset on the product page.
Where can I learn more about advanced trading strategies?
The platform offers a wealth of educational resources, including tutorials, articles, and glossaries, covering everything from basic concepts to advanced trading techniques. It is highly recommended to educate yourself thoroughly before risking capital.