On December 3, trading platform OKEx announced at its NEXTGEN Conference the launch of the new Perpetual Swap, a perpetual cryptocurrency futures contract.
The wait is over. Perpetual swap is finally live on the OKEx platform.
On December 3, the OKEx team officially launched the platform’s new derivative product at the OKEx NEXTGEN Conference in Seoul, South Korea—three months after the promised initial launch date.
https://twitter.com/OKEx/status/1069620681191632898
Similar to futures trading, interested traders can profit from or hedge against the changes in prices of a crypto on perpetual swap. The difference—however—lies in the duration of the contract. There is no contract expiration, nor is there a rollover, on perpetual swap.
Lennix Lai, financial market director at OKEx, said:
“This marks a key milestone for OKEx. The launch of perpetual swap demonstrates our continuous commitment to building a complete financial ecosystem for blockchain and crypto. With the new offering, investors and traders can select the products which best fit their trading and hedging strategies. However, we would like to remind our users that due to its high-leverage nature, implementing risk control strategies are equally crucial in trading.”
Apart from perpetual swap, OKEx also announced the implementation of a new tiered maintenance ratio system as an improved risk management measure.
Meanwhile, the OKEx crypto exchange platform—launched in early 2014—is currently the second biggest with a daily volume of US$496 million, based on data provided by CoinMarketCap.
| Related: Phishing Attack Leads Unsuspecting Facebook Users to Fake Crypto Exchanges
