LBank Futures, a leading derivatives exchange, has announced the launch of a new perpetual contract based on SimonsCat $CAT settled in Tether (USDT). The CATUSDT contract will be available for trading starting from August 23, 2024, at 10:00 UTC.
The CATUSDT perpetual contract offers traders the opportunity to speculate on the price of SimonsCat without worrying about expiration dates. This contract is margined, allowing traders to use leverage to increase their potential profits or losses. The leverage ratio for the CATUSDT contract ranges from 1x to 50x.
The contract’s tick size is 0.00000001 USDT, ensuring precise price movements. Additionally, the funding fee for the CATUSDT contract will be settled every four hours, helping to maintain the contract’s price in line with the underlying asset.
LBank has provided educational resources for traders to understand the intricacies of perpetual contracts and the risks involved. The exchange emphasizes that digital assets are subject to high market risks and price volatility, and traders should be aware of the potential for loss.
LBank reserves the right to adjust the contract specifications, including leverage limits, margin requirements, and funding fee rates, based on market conditions. Traders are advised to stay updated on any changes to the contract terms.
With the launch of the CATUSDT perpetual contract, LBank continues to expand its offerings and provide traders with more opportunities to participate in the cryptocurrency market.
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