The gaming and Web3 ecosystem continues to evolve, and a new player has entered the arena: CATI, the native token of Catizen. For traders looking to engage with this new asset, OKX has officially listed CATI for spot trading and launched a unique pre-launch futures contract for it.
This guide provides a clear overview of the CATI listing schedule, the project itself, and the specific rules for trading its pre-launch futures contract on OKX.
CATI Listing Schedule on OKX
For those planning to trade or invest, here are the key dates and times for the CATI listing (all times in UTC+8):
- Deposits Open: September 9, 2024, at 9:00 PM
- Call Auction Period: September 20, 2024, from 5:00 PM to 6:00 PM
- CATI/USDT Spot Trading Begins: September 20, 2024, at 6:00 PM
- Withdrawals Open: September 21, 2024, at 6:00 PM
What is Catizen (CATI)?
Catizen is a pioneering game center built on the Telegram ecosystem. It stands out by merging the innovative features of a Launchpool with elements of short-form video and e-commerce. The platform actively engages users through gamification and a strategic Play-to-Airdrop model, rewarding participation.
This novel approach aims to lower the barrier to entry and fundamentally reshape how users access and interact with the broader Web3 space.
- Full Name: Catizen
- Ticker Symbol: CATI
Understanding the CATI Pre-Launch Futures Contract
OKX offers a pre-listing futures contract for CATI, which settles upon the token's official spot market launch. Understanding the settlement rules is crucial for managing risk.
1. Settlement Time
The pre-launch contract will settle 3 hours after CATI spot trading begins on OKX. The final settlement price will be calculated based on data from hours 2-3 after the spot listing. It's important to note that if the initial listing time for the spot market changes, the contract settlement time will be adjusted accordingly. Users should monitor official announcements for any updates.
2. Settlement Price
The settlement process is designed to be fair and resistant to manipulation.
- Index Price: OKX uses an index price derived from three or more major exchanges where CATI is listed.
- Final Settlement Price: The settlement price is determined by calculating the arithmetic average of the OKX index price over the hour immediately preceding the settlement time. This price is used to settle all user positions for the contract. Should the index price be subject to abnormal manipulation during this period, OKX reserves the right to adjust the final settlement price to a reasonable level.
Important Post-Settlement Note: Users with a position value greater than $10,000 at the time of CATIUSDT contract settlement will have all asset transfers within their trading account temporarily restricted. This restriction is automatically lifted after 30 minutes.
Historical order and bill records for the CATIUSDT futures contract will remain available for query after settlement. To download these records, users can visit the "Order Center" on the OKX website.
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3. Settlement Fee Rate
A settlement fee of 1% is applied to these contracts. OKX will issue a separate announcement if this fee rate is adjusted in the future.
4. Price Limit Rules
To maintain market stability, the pre-launch contract has automatic price limits that change as it approaches settlement.
After Contract Creation:
- Maximum Buy Order Price = Average Mid-Price (from the past 1 hour) × (1 + 15%)
- Minimum Sell Order Price = Average Mid-Price (from the past 1 hour) × (1 – 15%)
Within 60 Minutes Before Settlement:
- Maximum Buy Order Price = Index Price × (1 + 5%)
- Minimum Sell Order Price = Index Price × (1 – 5%)
The mid-price is calculated as (Best Bid Price + Best Ask Price) / 2, and these limits are recalculated every minute.
Risk Management is Essential
The period before a contract settlement can experience high volatility and significant price swings. Users are strongly advised to employ robust risk control measures. This can include reducing leverage multiples or closing positions early to mitigate potential losses.
In the event of an auto-deleveraging (ADL) event caused by uncapped losses at settlement, the platform's risk reserve fund will be used first for compensation. If the reserve is insufficient, the system will initiate auto-deleveraging, starting with the most profitable users in the market.
OKX reminds all users that digital assets are innovative investment products characterized by high price volatility and substantial investment risk. It is essential to thoroughly understand them, rationally assess your own investment capabilities, and make careful investment choices.
Frequently Asked Questions (FAQ)
Q: What is a pre-launch futures contract?
A: A pre-launch futures contract allows you to trade an asset's price before its official spot trading begins. It settles based on the asset's spot price shortly after its market launch, allowing for speculation on its initial value.
Q: How is the final settlement price for the CATI contract determined?
A: The price is not from OKX alone. It is based on the arithmetic average of the OKX index price (which aggregates data from multiple major exchanges) taken over the one-hour period immediately before the settlement time.
Q: Why were my account transfers restricted after settlement?
A: This is a standard security and risk management procedure. Accounts with a settlement position value exceeding $10,000 have all asset transfers temporarily paused for 30 minutes after the contract settles. This is an automated process that resolves itself quickly.
Q: What happens if there is extreme volatility or manipulation at settlement?
A: OKX's contract rules include safeguards. If the index price is deemed to be abnormally manipulated, the platform may adjust the final settlement price to a more reasonable level to ensure a fair outcome for all users.
Q: Where can I find my trade history for this contract after it settles?
A: All historical委托 (order) and billing records remain available. You can access and download them through the "Order Center" on the OKX website platform.
Q: What is the best way to manage risk with this type of contract?
A: Use lower leverage, monitor the market closely as the settlement time approaches, and consider closing your position early if volatility becomes too high. Always ensure you are not investing more than you can afford to lose.