Huobi explained the key features of Huobi DM and then added support for some other cryptocurrencies.
On Friday 26th April, cryptocurrency exchange Huobi Global announced Huobi’s contract trading platform. The Huobi Derivative Market (Huobi DM), has launched TRON (TRX) futures contracts. This makes TRX the seventh crypto asset added to the platform.
More on Huobi Global
Huobi DM was launched (in beta testing mode) on 28 November 2018.
Huobi mentioned that the ability to sell cryptocurrencies at predetermined prices at specified times in the future will be an advantage. It will give investors and traders the ability to operate in both a long and short term basis. It also provides more advanced tools for hedging positions and in the control of risk and uncertainty.
Huobi made known the key features of Huobi DM, they include:
Superior risk management; this entails multiple limits for risk management and 24-hour monitoring, Investor protections; involving a 20,000 BTC insurance fund to protect users, Fee structure; here market makers pay no trading charges and get financial bonuses when trading as a maker.
Other features include; Leverage flexibility: Huobi DM offers 1X, 5X, 10X, and 20X leverage and
Speed: high memory and 10X matching speed compared to market average speed.
More cryptocurrencies added by Huobi
At inception, Huobi DM only offered contracts for Bitcoin (BTC) and Ether (ETH). Later on, it added support for some other cryptocurrencies. They include EOS contracts on the 28th of December, Litecoin (LTC) contracts on the 25th of January, XRP contracts on the 29th of March, Bitcoin Cash (BCH) contracts on the 12th of April.
According to reports, Huobi plans to give away one million TRX tokens to Huobi DM traders. It will also offer a 100% maker fee rebate on TRX contracts.