Dear CoinEx users:
We are glad to inform you that CoinEx Perpetual public testing will be released on May 17, 2019 (UTC).
What is Perpetual Contract?
A Perpetual Contract is similar to a traditional Futures Contract, but it does not have an expiry or settlement date. It also adopts a Funding fee mechanism to anchor its price to the spot market. You can buy contracts for long or sell for short based on your predictions about the market and profit from the ups and downs of the prices.
The first perpetual contracts available on CoinEx is BTCUSD and we will later release BCHUSD, ETHUSD, LTCUSD etc. contracts. All contracts are USD priced and the insurance fund, PNL, are settled in the corresponding coin.
Win BTC rewards in Perpetual promotions
To encourage users to participate in contract trading for public testing, CoinEx will also launch 3 promotions in a row on May 17, 2019 (UTC):
1. Trading Challenge: Top 1-100 contract users with most profits have a chance to win up to 10,000 USD worth of BTC.
2. Newbie Party: Altogether, CoinEx will give away 1,000,000 CET to our contracts newbies who have successfully finished their newbie tasks. First come, first served.
3. Bug Bounty: Please feel free to Email us if you have encountered any bugs or ideas in terms of contract trading. Once accepted, you have a chance to be rewarded with up to 2,000 USD worth of BTC.
Promotion time and arrangements
For more details, please stay tuned for our official announcement.
CoinEx reserves the final rights of explanation of this announcement.
May 16, 2019