OKEx Launches a 'Timeless' Bitcoin Derivatives Product – Bitcoinist.com

Cryptocurrency and Blockchain Businesses Aim to Scrape Perfection

On Monday, Malta-based Crypto Exchange, OKEx, launched a product which it says, ‘perfects’ its derivatives product suite. The ‘Perpetual Swap’ is a peer-to-peer digital by-product with no expiry date, and each day settlement.

Letter Swap

In a fancy South Korean lodge ballroom, rife with media and company shipped in from all over the world, OKEx excitedly launched its newest product. I understand how fancy it was as a result of I used to be one of many company who they thought it might be a good concept to ask… But why?

The very first thing I discovered is that I’ve been announcing OKEx incorrect. Although to be honest, that occurred the night earlier than the occasion while speaking with a colleague. I had been saying “oh-kex,” however she pronounced it “oh-kay-ex,” which made rather more sense contemplating the capitalization requirements they use.

Turns out we have been each incorrect, because the CEO got here out the subsequent day and welcomed us on behalf of “oh-kay-ee-ex.” Go determine.

Perpetual Swap

Anyway, the brand new product sits within the product line-up someplace between the standard futures contract and spot buying and selling. The massive distinction from a futures contract is the shortage of expiry date, that means positions may be held indefinitely.

Contracts are settled each day, and funding is charged or obtained for open positions 24 hours after settlement. Leverage is tiered primarily based on the held variety of positions however may be as much as 100x on underneath 500 swaps. This is to reduce the market impression throughout the pressured liquidation of outsized positions.

This is actually not a software aimed toward novice merchants.

Hong-Kong Based Exchange OKEx Plans to Move to Malta

Virtual Swap

If you aren’t actually positive what all this implies however wish to discover out extra, then you definately’re in luck. From now till the launch of the product on 11th December, OKEx are working a Perpetual Swap buying and selling simulation competitors.

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