OKEx Exchange Stops Deposit Of Funds and Launches Perpetual Swaps
The OKEx cryptocurrency trading platform announced the suspension of deposit and withdrawal of funds from the high-performance blockchain (HPB), as well as the launch of a new cryptocurrency derivative Perpetual Swap, according to the official website.
Operations with HPB will be suspended from 8:00 (UTC), December 19, 2018. At the same time, the representatives of the exchange did not reveal the specific date for options restoring, but said that the services would be resumed after the completion of the system upgrade. During this time, the possibility of making HPB deposits into OKEx will be still available, but the assets will be credited to customers’ accounts only after the update. The developers appealed to users with apologies for the inconvenience.
It is also reported that the Perpetual Swap derivative is officially launched on the website and in the exchange application. This service supports BTC with maximum hundredfold leverage. Each swap contract has a nominal value of $100.
Traders can open long positions in order to profit from an increase in the price of a сrypro asset, or short ones to benefit from a decrease in its value. A multi-level margin service and a partial liquidation mechanism for better risk management are also available to users.
Earlier, Lennix Lai, Financial Market Director at OKEx, claimed that the introduction of the perpetual swap shows the intention of the exchange to build a perfect economic system in the field of distributed technologies and will allow investors to choose the right product for trading.