Dear OKX Users,
We are excited to announce the official launch of ZKUSDT Perpetual Contracts on our web platform, mobile app, and API at 4:30 PM UTC+8 on June 18, 2024. Additionally, ZK/USDT Leverage Trading and Simple Earn will go live at 12:00 PM UTC+8 on June 19, 2024. Below are the detailed rules:
1. Leverage Trading & Simple Earn
Key Features:
- ZK/USDT Pair: Leverage trading will be available for the USDT trading pair.
- Leverage Tiers: Refer to the Leverage Margin Tier Guide post-launch for gradient margin levels.
- Simple Earn Quotas: Check the OKX Simple Earn Rules for allocation details upon release.
👉 Maximize your trading potential with OKX’s leverage tools
2. Perpetual Contracts
Contract Specifications:
| Contract Detail | Description |
|---|---|
| Underlying | ZK/USDT Index |
| Settlement Currency | USDT |
| Face Value | 10 |
| Price Quotation | USDT price per 1 ZK |
| Tick Size | 0.0001 |
| Leverage | 0.01–50x |
| Funding Fee | Clamp(MA([(Mark Price – Spot Index) / Spot Index – Interest]), -0.75%, 0.75%) Interest = 0 |
| Trading Hours | 24/7 |
Special Notes:
- Funding Rate Cap: To ensure fairness during initial volatility, the rate is capped at 0.03% until 12:00 AM UTC+8 on June 19, reverting to 1.50% thereafter.
- Fees will be collected starting 8:00 AM UTC+8 on June 19.
For general perpetual contract rules, see the OKX Perpetual Contracts Documentation.
FAQs
Q1: What’s the minimum price increment for ZKUSDT contracts?
A: 0.0001.
Q2: When does leverage trading for ZK/USDT begin?
A: June 19, 2024, at 12:00 PM UTC+8.
Q3: Are funding fees charged during the initial volatility period?
A: Yes, but capped at 0.03% for stability.
Q4: How is the funding fee calculated?
A: Based on the difference between the mark price and spot index, adjusted for interest.
👉 Explore ZK trading opportunities today
OKX remains committed to delivering innovative products and exceptional services.
OKX Team
June 18, 2024
### Keywords:
- ZKUSDT Perpetual Contracts
- ZK/USDT Leverage Trading
- OKX Simple Earn
- Cryptocurrency Trading
- Funding Fee Calculation
- Trading API