World Leading Crypto Exchange Bibox Launches Perpetual Contract Trading with No Funding Rate

Bibox, the world-leading AI-enhanced, encrypted digital asset exchange, announced the upcoming launch of perpetual contract trading for Bitcoin (BTC) and Ethereum (ETH) in a statement published on their blog. Bibox will hold an online trading contest from February 18 to March 4, inviting users to experience the new product. Perpetual contracts will be priced in Tether (USDT). According to the statement, no transaction fees will be charged during the contest.

A perpetual contract is a derivative product that is similar to a traditional futures contract but has no expiry or settlement and mimics a margin-based spot market, which trades close to the underlying reference index price. Perpetual contracts enable traders to use greater leverage options.

Bibox Enhances Derivatives Ecosystem

Perpetual contracts are only the latest addition to Bibox’s derivates ecosystem. The company issued BIX-denominated bonds for both institutional and retail investors on November 22, 2018, which sold out within 24 hours.

According to Bibox Co-founder Aries Wang,

“not only is the roll-out of perpetual contracts a significant addition to Bibox’s derivatives offering, but also a promise that we will continue creating a transparent, secure and user-friendly trading environment for our users.”

Bibox perpetual contracts also provide more flexible leverage options, allowing users to buy or sell with a leverage of up to 50x. For instance, users that want to trade 100 BTC/USDT contracts (the face value of one contract is 0.01BTC), with leverage of 25x and given an index price of 3000USDT, the user will need a margin of 120USDT, while a margin of only 60USDT is needed with a 50x leverage. Flexible leverage provides users with the ability to speculate for greater potential returns in line with their risk preference.

One thing worth noting is that, unlike the existing contract trading platform, Bibox perpetual contract does not charge the funding rate from buyers or sellers.

Zero Transaction Fees to Celebrate the Perpetual Contract Trading Launch

Bibox has announced a range of incentives for traders that will participate in the launch. First, users will not be charged any transaction fees for the contract trading during the contest period. Second, Bibox sets 1,000 places for the contest, users who deposit more than 100USDT and trade accumulatively up to 25BTC or 740 ETH of the contract face value will be awarded as experience officers and eligible to receive an exclusive10-60USDT reward. Third, the top 30 perpetual contract traders by earnings will be rewarded, that is, 1BTC for the champion, 50USDT for each of the remaining 29 users.

About Bibox

Bibox is an AI-enhanced and encrypted top 10 digital asset exchange with a daily trading volume of around $300 million. The Estonia-registered company also has operation centers in the US, Switzerland, Canada, China, South Korea, Japan, Singapore, and Vietnam, with plans to expand to more countries. Bibox traders enjoy secure, stable, and user-friendly digital assets management services, with access to over 100 high-quality coins and over 200 trading pairs.

 

For details please contact:
media_release@bibox365.com or visit our official website right here.

The post World Leading Crypto Exchange Bibox Launches Perpetual Contract Trading with No Funding Rate appeared first on AMBCrypto.

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