We are excited to announce that OKX will introduce USDT-margined perpetual futures for RENDER, alongside new margin trading and Simple Earn features. These updates are scheduled to go live on August 8, 2024, enhancing the trading experience for this digital asset.
The perpetual futures trading for RENDER will begin at 8:30 am UTC, while margin trading and Simple Earn products will be available from 4:00 am UTC on the same day. All services will be accessible via the OKX web platform, mobile application, and API.
New RENDER Trading and Earning Features
This expansion provides traders and investors with multiple ways to engage with RENDER, offering both leveraged trading opportunities and passive income solutions.
Margin Trading for RENDER
Spot margin trading will be activated for the RENDER/USDT pair. This allows users to borrow funds to amplify their trading positions, potentially increasing both gains and risks.
The specific tiered margin levels, which determine the amount of leverage available and the corresponding margin requirements, will be detailed on the official OKX platform following the listing. Traders are advised to review these details carefully to understand their obligations and the risks involved with leveraged trading.
Simple Earn for RENDER
The Simple Earn product enables users to earn rewards on their idle RENDER tokens by committing them to flexible or fixed-term plans. This offers a straightforward method to generate potential returns without active trading.
The specific limits, rates, and terms for RENDER Simple Earn will be published on the OKX website after the official listing goes live. Users can then choose the option that best fits their investment strategy and risk tolerance.
RENDERUSDT Perpetual Futures Contract Specifications
The new perpetual futures contract provides a way to speculate on the future price of RENDER without an expiration date.
| Feature | Details |
|---|---|
| Underlying | RENDER/USDT index |
| Settlement | USDT |
| Face Value | 1 |
| Price Quote | 1 RENDER value calculated in USDT equivalent |
| Tick Size | 0.001 |
| Leverage | 0.01x to 20x |
| Funding Fee | Calculated based on a formula with a clamp between -0.75% and 0.75%; Interest = 0 |
| Trading Hours | 24/7 |
A key feature of perpetual swaps is the funding fee, which is periodically exchanged between long and short traders to keep the contract's price aligned with the underlying spot index. The initial funding fee上限 will be set at a reduced rate of 0.03% until 4:00 pm UTC on August 8th to ensure stability at launch. After that time, the predicted funding fee上限 will return to the standard 1.50%.
The first funding fee payment for this new contract will occur at 12:00 am UTC on August 9, 2024. The price limit rules for this contract are consistent with those for other perpetual futures on the platform. For a comprehensive understanding of how these contracts work, you can explore more strategies on advanced derivatives trading.
Getting Started with RENDER on OKX
To begin trading or earning with RENDER, users should ensure they have a verified OKX account and sufficient USDT or RENDER in their wallet. The platform provides a user-friendly interface to navigate to the spot, margin, futures, or Earn sections easily.
As with any financial product, it is crucial to understand the associated risks, especially when using leverage. OKX offers a wealth of educational resources to help users make informed decisions. For those looking to dive deeper into leveraged trading techniques, you can view real-time tools and guides directly on the exchange.
Frequently Asked Questions
What are perpetual futures contracts?
Perpetual futures are derivative contracts that allow you to speculate on an asset's price without an expiry date. They use a funding rate mechanism to ensure the contract price closely tracks the spot price of the underlying asset, making them a popular tool for traders.
How does margin trading work for RENDER?
Margin trading allows you to borrow funds to open a larger position than your account balance would normally allow. For RENDER/USDT, you can use borrowed USDT to buy more RENDER (long) or borrow RENDER to sell it (short), aiming to profit from smaller price movements.
What is Simple Earn and how can I use it with RENDER?
Simple Earn is a service that lets you earn rewards on cryptocurrencies you hold. You can pledge your RENDER tokens in a flexible savings product for easy access or lock them in a fixed-term plan for a typically higher reward rate, helping your assets grow passively.
What is the funding fee in perpetual futures?
The funding fee is a periodic payment made between traders in a perpetual futures market. If the fee rate is positive, long positions pay short positions. If it's negative, shorts pay longs. This mechanism helps tether the futures price to the spot price over time.
Are there any special risks with new perpetual contracts?
New contracts can experience higher volatility and less liquidity initially. The premium can be unstable, which is why OKX implements a lower initial funding fee cap. Traders should be cautious and start with smaller positions until the market matures.
Where can I find more detailed guides on using these products?
OKX provides extensive help centers and articles covering everything from the basics of spot trading to advanced derivatives strategies. All official guides and real-time specifications are available within the platform's support section.