OKEx Donates $4.5 Million to Foster Perpetual Swap Market
Last year, we introduced the perpetual swap market along with a new risk management system in order to benefit our traders with more hedging and arbitrary options and extra protection from market swings.
Since the adoption of the new risk management system, we have recorded zero clawback for the futures and perpetual swap markets, even under several times of extreme volatility. After being tested by the market, we are very pleased to see our crypto derivative products have become more trusted by retail and institutional customers from around the world.
But we hope to do more to make every trader feel more comfortable trading on OKEx.
Because of this idea, we decided to donate a fund of US$4,567,888-equivalant Bitcoin to our perpetual swap insurance fund. The fund is designed to compensate a margin call before clawback is triggered. Therefore, the larger the insurance fund, the less possible a clawback would take place. With an extra layer of protection, we hope to have all customers’ interests safeguarded.
“No clawback has occurred on OKEx perpetual swap since its launch. We introduced a new risk management system to strike a better balance between avoiding early liquidation and maximizing traders’ benefits,” said Andy Cheung, Head of Operations of OKEx. “We believe the $4.5 million donation can give extra confidence for customers trading on our platform. Developing a robust crypto marketplace where everyone can trade freely in a fair manner is something that has always been our mission.”
“Customer satisfaction is the core of our service. The key to delivering the best user experience to our customers is security,” added Andy Cheung. “Our founding members and executives are all tech and internet experts, allowing us to lead in product and technology development. As believers in Bitcoin and blockchain, we are dedicated to bringing more positive changes to the existing financial system, bridging the traditional and crypto markets with our technologies.”
Published at Thu, 25 Jul 2019 01:34:56 +0000
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