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KuCoin Introduces USDT-Margined W Contract with 1-50x Leverage
KuCoin has recently rolled out the USDT-Margined W (Wormhole) Contract, allowing users to trade with leverage ranging from 1 to 50 times. This innovative smart contract does not have an expiration time and each contract is equivalent to 0.001 BTC. As of the time of writing, the value of one BTC stands at $66,388.50, with the contract being quoted and settled in USDT, boasting an open interest of 7.86 million lots.
Key Features of the USDT-Margined W Contract
- Funding Interval: The funding interval occurs every 8 hours, subject to adjustment during periods of heightened volatility.
- Funding Rate: The funding rate is currently set at 0.0275%, with a projected rate of 0.0251%.
- Fee Rates: Makers and takers incur fee rates of 0.0200% and 0.0600% respectively.
- Margins: Initial margin and maintenance margin are fixed at 1/leverage and 0.40% respectively.
- Contract Specifications: The contract multiplier converts one lot to 0.001 BTC, with a minimum price increment of 0.1 USDT. The price range is capped at a maximum of 1,000,000.00 USDT, and traders are limited to a maximum order quantity of 1,000,000 lots.
- Risk Management: The Fair Price method is employed, with risk limits set at 100,000.00 USDT and risk steps at 50,000.00 USDT.
Rewarding Activities for Users
In addition to the launch of the USDT-Margined W Contract, KuCoin has introduced lucrative rewarding activities aimed at engaging and rewarding its user base.
The campaign offers Mexican users the opportunity to participate and potentially win up to 80,000 USDT. Although exclusive to Mexican users, the announcement has generated considerable interest across other regions.
The rewarding activities include four distinct initiatives:
- Activity 1 – Trading Volume Challenge: Users who achieve a Future trading volume of 8,000 USDT on the platform are eligible to receive a share of the 50,000 USDT prize pool based on their trading volume.
- Activity 2 – New User Voucher: Newly registered users can claim a voucher worth up to 50 USDT to protect them from initial losses on their first transaction. This initiative has a prize pool of $10,000 and operates on a first-come, first-served basis.
- Activity 3 – Referral Program: Existing users can earn commissions of up to 20% by inviting new users to the platform. Successful invitations also stand a chance to win up to 100 USDT, with newly referred users receiving a gift pack and up to 700 USDT upon registration.
- Activity 4 – Highest Trading Volume: Users who attain a trading volume surpassing 8,000 USDT on any contract are rewarded with a 50 USDT Futures Deduction Coupon.
Enhancing Platform Integrity and Community Engagement
The introduction of the USDT-Margined W Contract and the accompanying rewarding activities underscore KuCoin’s commitment to providing innovative trading solutions and fostering community engagement. These initiatives not only add value to the platform but also contribute to its growth and exposure in the rapidly evolving cryptocurrency market.
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