THELOGICALINDIAN - On Monday Maltabased Crypto Exchange OKEx launched a artefact which it says perfects its derivatives artefact apartment The Perpetual Swap is a peertopeer basic acquired with no accomplishment date and circadian settlement
Letter Swap
In a adorned South Korean auberge ballroom, abounding with media and guests alien in from about the world, OKEx absurdly launched its latest product. I apperceive how adorned it was because I was one of the guests who they anticipation it would be a acceptable abstraction to invite… But why?
The aboriginal affair I abstruse is that I’ve been pronouncing OKEx wrong. Although to be fair, that happened the black afore the accident whilst talking with a colleague. I had been adage “oh-kex,” but she arresting it “oh-kay-ex,” which fabricated abundant added faculty because the assets standards they use.
Turns out we were both wrong, as the CEO came out the abutting day and accustomed us on account of “oh-kay-ee-ex.” Go figure.
Perpetual Swap
Anyway, the new artefact sits in the artefact agency about amid the acceptable futures arrangement and atom trading. The big aberration from a futures arrangement is the abridgement of accomplishment date, acceptation positions can be captivated indefinitely.
Contracts are acclimatized daily, and allotment is answerable or accustomed for accessible positions 24 hours afterwards settlement. Leverage is tiered based on the captivated cardinal of positions but can be up to 100x on beneath 500 swaps. This is to abbreviate the bazaar appulse during the affected defalcation of colossal positions.
This is absolutely not a apparatus aimed at amateur traders.
Virtual Swap
If you aren’t absolutely abiding what all this agency but would like to acquisition out more, again you’re in luck. From now until the barrage of the artefact on 11th December, OKEx are active a Perpetual Swap trading simulation competition.
Log into OKEx during the antagonism period, and go to the advance folio to assurance up and accompany a team. You’ll accept 10 basic BTC [coin_price] to comedy with, and the teams are ranked at the end according to profits and losses.
You can get aboriginal access, hands-on acquaintance of the new artefact and a adventitious to win up to 10 BTC. And you can’t lose the shirt off your back, the keys to the Lambo, or your bays (3rd) wife.
Which is nice!
What are your thoughts on OKEx’s new derivatives project? Don’t alternate to let us apperceive in the comments below!
Images address of Shutterstock.
