Introduction of USDT Perpetual Swap

Hotcoin Perpetual Swap is a virtual contract product settled in USDT currencies.

Currency Standard Futures: Futures products settled in currencies, just like profits and margins of BTCUSD futures products are all settled in BTC currency;

USDT Futures: Futures products settled in USDT currency, just like profits and margins of BTCUSDT futures products are all settled in USDT currency;

Investors can buy-in long positions to obtain the profits generated from virtual digital currency price moved up, or sell-out short positions to obtain the profits from virtual currencies.

Main Features Of USDT Perpetual Swap

• Future leverage ratios range from 1x-125x；
• Optional open long or open short, Both holding long and holding short positions are supported;
• Two patterns of Cross and Isolated；
• Both long and short leverages can be setting separately；
• This contract is perpetual and does not deliver；
• As there is no delivery date, Perpetual Swap adopts a funding mechanism to keep the Perpetual Swap market price in line with the Spot Index Price；
  
• The perpetual swaps uses the fair marked price to calculate the unrealized profit and losses of users, which effectively reduces the unnecessary liquidation in a high frequency when the market fluctuates (Please check other files for the selections of Fair Marked Price ) ；
• Interval Of Paying Funding By Every 8 hours：Settlements will be done by every 8 hours（Singapore Time 04:00、12:00 and 20:00）；
• Tiered Maintenance Margin Ratio System - Maintenance Margin Ratio (MMR) is the lowest margin ratio required for holding a user's current positions. When the Margin Ratio + Forced-Liquidation Fee Rate drops below the MMR, forced liquidation (of full or partial position) occurs. The larger the positions a user holds, the higher the MMR, and the maximal Leverage available will be lowered effectively；
• USDT Perpetual Swap supports the transaction of multiple currency pairs of contract at the same time.