A theme that is found in the mouth of the passionate by the cryptocurrencies, and even traditional media, are the Future of Bitcoin. His appearance was controversial and caused a great impact within the criptomercado. However, he recognized its quality of being unique, until now. Being the news of today, OKEx challenges Bakkt to launch a Future Tether.
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Future of USDT
The fifth exchange, the world’s largest OKEx announced that it plans to bring to the trade the option of Future Tether (USDT). The idea is to offer a futures contract linear with a leverage of up to 100x. According to a press release, the contracts shall be an agreement daily, and offers peer support with Bitcoin, EOS, Ethereum, Litecoin, Bitcoin, Cash, XRP, Ethereum Classic, Bitcoin VS and Tron. OKEx has indicated that it will use a price-mark to calculate Profit and Losses (PnL) are not made of the users to mitigate the settlement unnecessary in terms of market volatile. A daily settlement process will move the Nlp is not performed in the Nlp done to ensure greater flexibility in the use of capital. The platform also offers tools coverage as insurance to help the traders. They comment that these futures will have contracts with a delivery date fixed, with the price set at the average value of the index to the hour before delivery. In addition, the OKEx argue that the Future of Tether will be launched on the 14th of November and the simulation will begin on November 5. The Perpetual Swap of USDT will be launched on the 9th of December, and the simulation will begin on November 30.
Competence of Future
If you are knowledgeable of these cryptocurrencies, they will be able to observe that it is happening a competition between Future Criptos traditional against Future of Stablecoins. OKEx argues that offer derivatives contracts based on stablecoins will offer a more simple and efficient for operators to navigate the market and calculate risks. Particularly with USDT, which is directly associated with the us dollar (USD). They argue that this will reduce the hassle of having to switch between the cryptocurrencies for those who record their gains and losses in value in USD. Lennix Lai, Director of the Financial Market in OKEx, decided to comment on it. He indicated that the exchange platform could implement more derivatives of stablecoins based on USD to provide hedging instruments that are similar and simplified. Lai also pointed out the reasons behind the choice of the exchange to offer futures contracts are linear, rather than inverse, for USDT: “most of the times, users are not willing to keep altcoins as margin, and also see that the contracts inverse in themselves are complicated to understand. We see that this contract is linear would be an open door for many new retailers”. The following two tabs change content below. I am a student of economics, interested in innovation and technological development, always faithful to that tomorrow will be a better day.