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Crypto exchange OKEx launches Litecoin and Ethereum Classic Perpetual Swap
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Cryptocurrency Exchange based in Malta OKEx has launched derivatives contracts for Litecoin (LTC) and Ethereum Classic (ETC).
In a blog post, the exchange said that the perpetual exchanges of the newly added cryptocurrencies began to operate on its platform on 2 January.
The OKEx Perpetual Swap, launched last month, is a virtual derivative product that is deposited in digital tokens. The product allows customers to take a long or short position relative to the price of tokens with no expiration date. The swaps use the following financing formula: financing = position value * financing rate.
Each contract value on OKEx is $ 10 and supports 1-40x leverage. ETC has a minimum price range of 0.001 points, while LTC has a minimum price range of 0.01 points. The settlement and financing fee of both coins occurs once every 12 hours a day at 3:00 and at 15:00.
