Announcement on the Launch of LINK Futures and Adjustment of LINK Perpetual Swap Rates and Tiered MMR Rules
Dear valued customers,
OKX will officially launch LINK Futures, and adjust the fee rules and Tiered MMR Rules of LINK Perpetual Swap. Please see below for details.
I. Launch of LINK Futures
1. Date: 6:00 August 20, 2020 (UTC).
2. We will officially launch LINKUSD and LINKUSDT Futures on the web, APP and API. Details as follows:
LINKUSD Futures:
|
Feature |
Details |
|
Underlying |
LINK/USD Index |
|
Settlement Coin |
LINK |
|
Face Value |
USD10 |
|
Price Quotation |
1 LINK value calculated in USD equivalent |
|
Tick Size |
0.001 |
|
Leverage |
0.01-33.33x |
|
Contract expirations |
Weekly、Bi-weekly、Quarterly、Bi-quarterly |
|
Trading Hours |
7*24 |
|
Contract delivery time |
08:00 (UTC), Friday of the expiring week |
|
Settlement Time |
08:00 every day (UTC) |
LINKUSDT Futures:
|
Feature |
Details |
|
Underlying |
LINK/USDT Index |
|
Settlement Coin |
USDT |
|
Face Value |
1 LINK |
|
Price Quotation |
1 LINK value calculated in USDT equivalent |
|
Tick Size |
0.001 |
|
Leverage |
0.01-33.33x |
|
Contract expirations |
Weekly、Bi-weekly、Quarterly、Bi-quarterly |
|
Trading Hours |
7*24 |
|
Contract delivery time |
08:00 (UTC), Friday of the expiring week |
|
Settlement Time |
08:00 every day (UTC) |
The price limit rules for LINKUSD & LINKUSDT Futures trading are the same as Futures trading of other cryptocurrencies. Please refer to our Futures trading guides for further details.
Coin-margined Futures trading: OKX Coin Margined Futures Trading User Agreement & Guide
USDT-margined Futures trading: OKX USDT Margined Futures Trading User Agreement & Guide
II. Fee Tier Adjustment
1. Date: 6:00 August 20, 2020(UTC).
2. In order to offer a better trading experience and enhance the liquidity in the market, we will set the LINK Futures/Swap contract fee rate according to the major assets standards (BTC, ETH, EOS, LTC, BCH, XRP, ETC, BSV, TRX).
Details as follows (30-day trading volume = total trading volume of all cryptocurrencies):
|
Normal User |
||||||
|
Tier |
Total OKB Holding |
30-day Trading Volume (BTC) |
Maker Fee(Swap) |
Taker Fee(Swap) |
Maker Fee(Futures) |
Taker Fee(Futures) |
|
Lv1 |
< 500 |
< 5000 |
0.020% |
0.050% |
0.020% |
0.050% |
|
Lv2 |
≥ 500 |
< 5000 |
0.018% |
0.045% |
0.018% |
0.045% |
|
Lv3 |
≥ 1000 |
< 5000 |
0.017% |
0.040% |
0.017% |
0.040% |
|
Lv4 |
≥ 1500 |
< 5000 |
0.016% |
0.035% |
0.016% |
0.035% |
|
Lv5 |
≥ 2000 |
< 5000 |
0.015% |
0.030% |
0.015% |
0.030% |
|
VIP User |
|||||
|
Tier |
30-day Trading Volume (BTC) |
Maker Fee(Swap) |
Taker Fee(Swap) |
Maker Fee(Futures) |
Taker Fee(Futures) |
|
VIP1 |
≥ 5000 |
0.010% |
0.030% |
0.015% |
0.030% |
|
VIP2 |
≥ 10000 |
0.005% |
0.030% |
0.010% |
0.030% |
|
VIP3 |
≥ 20000 |
0.000% |
0.030% |
0.005% |
0.030% |
|
VIP4 |
≥ 60000 |
-0.005% |
0.030% |
0.000% |
0.025% |
|
VIP5 |
≥ 100000 |
-0.008% |
0.030% |
-0.002% |
0.025% |
|
VIP6 |
≥ 150000 |
-0.010% |
0.030% |
-0.005% |
0.025% |
|
VIP7 |
≥ 200000 |
-0.015% |
0.030% |
-0.010% |
0.025% |
III. Tiered MMR Rules Adjustment
1. Date: 7:00 on August 18, 2020(UTC)
2. In order to further increase the position limits and enhance the market liquidity, we will adjust the tiered maintenance margin ratio rules of the Futures/swap. Details as follows:
|
Contract |
Basic risk limits (contracts) |
Step size to next tier (contracts) |
Basic maintenance margin ratio |
Basic initial margin ratio |
|
LINKUSD、LINKUSDT Futures/Swap |
10,000 |
10,000 |
1.5% |
3.0% |
Tier Calculation:
|
Parameters |
Formula |
Example (BTCUSDT Perpetual Swap) |
|
Max. contracts for a tier |
Tier-1 max. open contracts + tiers increased * step size |
Tier 3：10,000+2*10,000=30,000 |
|
Maintenance margin ratio for a tier |
Basic maintenance margin ratio + tiers increased * maintenance margin ratio increased |
Tier 3：1.5%+2*0.5%=2.5% |
|
Initial margin ratio for a tier |
Basic initial margin ratio + tiers increased * initial margin ratio increased |
Tier 3：3.0%+2*0.5%=4.0% |
|
Max. leverage level for a tier |
1 / initial margin ratio of the tier |
Tier 3：1 / 3.0%=33.33 |
Thank you for your support and we assure you of our best services at all times.
Regards,
OKX
Aug 18, 2020 (UTC)
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