OKEx USDT perpetual swap trading will go live on December 16. OKEx, the popular cryptocurrency exchange, will soon be launching its much-awaited USDT-margined perpetual swap trading feature on its platform. As per the official announcement, this cryptocurrency derivative product will go live on December 16.
OKEx USDT perpetual swap is very much similar to the conventional futures trading that the platform already offers to its users. The underlying cryptocurrency’s future price will be bet upon by the traders. The buy-sell mechanism will also be same as per the trader’s anticipation. For example, if the trader thinks the price will fall in the near future, he can short the cryptocurrency or vice versa.
However, the major difference in the new product offering is ‘Perpetual Nature’. This means that the trade will remain open indefinitely with no expiry date.
OKEx USDT perpetual swap is well-cushioned against risks
OKEx USDT perpetual swap will be available in a wide variety of cryptocurrencies. The options for speculation include Bitcoin, Ethereum, XRP and more. Interestingly, the high leverage advantage of the platform, i.e. 100X, is also available for the new OKEx perpetual swaps.
Chief Operating Officer of OKEx, Jay Hao, explained the success of their derivatives sector. He said that OKEx had evolved continuously by implementing numerous suggestions given by users trading on the platform. Recently launched USDT futures trading has contributed immensely to the platform’s growth. OKEx aims to deliver unmatched features in the cryptocurrency trading realm for both the institutional and individual users.
How OKEx USDT perpetual swap trading works
OKEx USDT perpetual swap is not prone to high risk as the exchange has implemented suitable measures to prevent unfair liquidation. Firstly, the mark price is dependent on the cumulative ‘Index Price’ which ensures price dampening that further reduces associated market risks.
The trademark ‘Tiered Maintenance Margin Ratio’ system of OKEx ensures that huge market liquidation is handled well by deleveraging the traders. Additionally, the exchange’s ‘Forced Partial Liquidation Mode’ reduces the effects of market slippage that result from various simultaneous liquidations. These systems will also help protect the perpetually open positions from significant downside risks.
The trial run of the OKEx perpetual swap begins from December 4 and run-up to December 11. Users are recommended to check out the latest trading feature during the trial run period.
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