A leading cryptocurrency exchange, OKX, has revealed that it will list a Wall Street Memecoin perpetual swap at 4:00 am UTC on October 6 and will allow users to long and short WSM/USDT with up to 50x leverage.
The OKX will also simultaneously introduce margin trading and a Simple Earn listing for WSM. OKX also mentioned that this update will take place on the web and app interfaces as well as API. Spot margin trading will be activated for WSM/USDT.
OKX also noted that due to the contract launch, the premium is unstable and stated, “the upper limit of the funding rate before 4:00 pm UTC on October 6 is 0.03%. After 4:00 pm UTC, the upper limit of the predicted funding rate will be adjusted back to the normal 1.50%.”
This announcement follows the addition of WSM to the exchange’s spot market on September 26 at 10:00 (UTC). WSM is the memecoin that powers Wall Street Memes, a decentralized meme platform based on the Ethereum blockchain. Creators can create and sell memes, and collectors can buy and sell memes on Wall Street Memes.
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