OKEx Crypto Exchange is Getting Better for Users

Leading cryptocurrency exchange, OKEx has announced plans to launch a range of cryptocurrency-based futures contracts settled in Tether (USDT).

According to reports, OKEx kickstarts USDT Futures Contracts on 14th November, and simulation commences on 5th November. USDT Perpetual Swap also starts on 9th December, and the simulation starts on 30th November.

Besides, the futures contract now carries out a daily settlement and offers supported pairs with Bitcoin (BTC). Also including EOS, Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), XRP, Ethereum Classic (ETC), Bitcoin SV (BSV) and Tron (TRX).

More on Tether (USDT) futures trading

In terms of USDT futures, the contracts use a fixed delivery date. Its price also stands at the mean value of the index at the hour preceding delivery.

Importantly, OKEx mentioned they’ll use a marked price to calculate users’ unrealized profits and losses. Therefore, ensuring a reduction in unnecessary liquidation of volatile market conditions. The daily settlement process also moves unrealized profit or losses into realized profit or losses. Thus, ensuring higher flexibility of capital utilization.

Besides, the platform offers hedging tools like insurance to assist traders.

Simpler and more efficient medium for traders

The Malta-based exchange strongly believes offering stablecoin-based derivatives contracts creates a simpler and more efficient means for traders to calculate and manage market risks. Furthermore, OKEx claims a USDT-based derivative (to be specific) reduces the stress of switching between cryptocurrencies. Especially for users who book their profits and losses in USD value.

OKEx’s Financial Market Director, Lennix Lai also commented about the exchange’s plans to add more USD-based stablecoin derivatives. She particularly believes it’ll help provide a simplified hedging medium. Additionally, Lai gave the rationale behind the exchange’s choice of linear and not inverse futures contracts for USDT. He said: “Most of the time, users don’t want to hold altcoins as margin. They also see inverse contracts itself as complicated to understand. We a believe linear contract would be an open door to many new retail traders.”

To remind, OKex set up a cryptocurrency index fund. It allows both retail and corporate investors with about $100 to purchase six coins & tokens. The Malta-based cryptocurrency exchange also suffered under the “Whale Alert” radar. Find out more here.


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