SEOUL (SEOUL), South Korea, December 3, 2018 / PRNewswire / – The world’s leading digital asset exchange, OKEx, headquartered in Malta, today announced the launch of the new Perpetual Swap derivative (perpetual swap) , taking a huge step forward in staffing its range of cryptocurrency financial products. The new product gives OKEx users the ability to perform an unlimited swap, futures contracts and spot sales with margin and leverage using a single platform. Perpetual swap transactions will be officially available at OKEx from 01:00 (GMT +9) on December 11, 2018.

Perpetual Swap is an equal, virtual derivative product from OKEx that allows traders to make assumptions about the direction of price fluctuations for digital assets like Bitcoin. This mechanism is very similar to a futures contract, but with no expiration date, and calculations for such a swap are made daily. Each swap contract has a face value in bitcoins, equivalent to 100 US dollars. Users can choose a long position in order to benefit from an increase in the value of a digital asset, or a short position, deriving profit from reducing the price of such an asset with a leverage of up to 100x.

OKEx’s Perpetual Swap tool has the following features compared to futures contracts:

  • Lack of validity – positions can be held indefinitely;
  • Trading within the base information index – as opposed to futures contracts, which, as a rule, are traded at different prices on the spot market
  • Leverage level – from 1 to 100x
  • Tracking spot market prices through a financial mechanism

In addition, other benefits to users include:

  • The “Mark Price (price registration)” mechanism avoids unnecessary liquidation
  • Low fees compared to other similar products on the market
  • Quick payments – swaps are paid daily with the possibility of daily withdrawal of profits;
  • Partial liquidation system – minimization of market influence during forced liquidation
  • The multilevel margin system allows traders to adjust the level of leverage depending on their risk preparedness and market conditions.

Director of Financial Markets at OKEx, Mr. Lennix Lai, said: “The appearance of this product marks the achievement of an important milestone for OKEx. The launch of the perpetual swap function has clearly demonstrated our continued commitment to create a set

Sourced from TASS.ru and machine translated for your benefit

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