OKEx Exchange Launches Ethereum Based Perpetual Swaps for Crypto Traders
OKEx, the second largest cryptocurrency exchange by the trading size, now lists perpetual swaps of Ethereum (ETH) on its platform. Since its announcement a few days ago, the crypto world has been excited to explore the platform’s new offering.
The Perpetual swaps is unlike any existing futures contracts that the platform offers, instead of being focussed on delivery, funding, market price and daily settlement costs, the new offering has a different approach. For one, they will facilitate daily settlements taking place every twelve hours.
ETH PERPETUAL SWAP: We are launching the ETH perpetual swap at 13:00pm Dec 26, 2018 (CET, UTC+1). And we are going to launch the perpetual swaps for LTC, ETC, XRP, BCH, and BSV soon, please stay tuned.#OKExAnnouncementhttps://t.co/ez47hty3Az
— OKEx (@OKEx) December 26, 2018
The perpetual swaps further enable a far greater leveraging compared to futures by allowing up to 40 times leverage for buyers with accompanying equality in weight constituents within accompanying fiat or crypto. It includes trading pairs from other crypto exchanges like GDAX, Gemini, Bitstamp among a number of others.
The Hong Kong-based exchange has hinted that after their Bitcoin and Ethereum perpetual future contracts, they might be soon listing other similar perpetual swap products for other cryptocurrencies like Litecoin, Ethereum Classic, Ripple (XRP) soon. In fact soon after the aforementioned announcement, there Bitcoin Cash, and BSV perpetual swap went live as well.
— OKEx (@OKEx) December 28, 2018
OKEx is making sure that the bear market does not majorly affect their growth strategies. The platform recently launched another venture dubbed as OK Piggy Bank, that will enable the users to earn daily interest for their cryptocurrencies kept in their piggy bank wallet.
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