Cryptocurrency exchange, is launching a series of futures contracts tied to stablon Tether (USDT).
The exchange will support USDT pairs including bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), EOS, XRP, Bitcoin SV (BSV) and Tron (TRX) with a leverage of 1: 100, the first day of trading, namely on 6 November, said in a press release published on Tuesday, reports the portal CoinDesk cryptocurrency.
The company claims that its linear futures contracts will be simple for the traders because the owners don’t have margin to hedge the risk as it would when selling contracts.
“In most cases, users don’t want altcoins to hedge as margin, and they also note that selling contracts harder to understand. We hope that this linear contract will become an open door to many new retail traders”,
– said the Director of the market OKEx Lennix Lai (Lai Lennix).
Stablon Tether tied (at least should be) to US dollar so far has not been widely used as the basis for futures contracts, although CoinFLEX announced a similar product back in January.
OKEx said that in the near future will continue to develop products based on stablon.
“We will continue research and will add derivatives stablon to offer a simple hedging tool for traders who usually book their profits or losses in the value of the dollar,” added Lai.
To ensure fair market prices, futures contracts OKEx will have average prices of these exchanges like Huobi, Coinbase, Bittrex and spot prices tether on Binance. The settlement agreement will occur daily at 8:00 UTC.
Recall cryptocurrency resource “Coinews” recently reported that a leading cryptocurrency exchange Huobi has plans to become the first international player and will start to sell the Turkish Lira until the beginning of 2020, the exchange will launch trading stablon Tether against the Lira.