Dear CoinEx users:
As a widely used USD stablecoin, USDT is of high uncertainty and its price fluctuates drastically in OTC. To provide users with risk management and hedging, CoinEx supported CNY future pair against USDT on Jul 26, 2019. The details are as follows:
1. Future pair: USDT/FCNY (FCNY represents the future asset of CNY and 1 FCNY is worth of 1 CNY upon delivery)
2. Trade mark: USDT/CNY Index, which is generated according to the weight avg. price of best price in Bid/Ask on USDT/CNY Market of most mainstream exchanges (Currently Huobi and OKEx)
3. Max. Leverage: 10X
4. Trading insurance: USDT
5. Delivery time: 2019-08-31 20:00（UTC +8）
6. Delivery price: The arithmetic mean of minutely USDT/CNY closing index price one hour before delivery
7. Delivery method: USDT differential
8. Price limits
Short-term price limits: No more than 2% in 15 minutes
Long-tern price limits: No more than 20% in 24 hours
9. Opening: Call auction; Advised to borrow FCNY assets based on the price of 1 USDT = 6.92 FCNY
10. Opening time: Call auction starts at 2019-07-26 17:00 (UTC +8) and tradable at 2019-07-26 20:00 (UTC +8)
Bid/Ask on USDT/FCNY to share daily BONUS
2019-07-26 20:00（UTC +8）, after USDT/FCNY trading pair is supported, all valid Bid/Ask orders will be qualified for "Bid/Ask for Credits" and share CET rewards on a daily basis.
1. Duration：2019-07-26 20:00（UTC +8）～ 2019-08-31 8:00（UTC +8）
2. Bonus：10,000 CET PER DAY
3. Rules：Users can share CET bonus based on the valid orders in buying and selling for this pair
4. Valid Interval %：0.3%（According to the market depth and liquidity, each pair has a specified valid interval.）
5. Attention: Bonus will be allocated daily at 00:00 (UTC) but remain locked for 90 days
6. More about USDT/FCNY: Bid/Ask Credit System
Risks
1. As an innovative investment, please evaluate your investment carefully before participation.
2. Futures Trading not only allows you to magnify gains with fewer funds but can also saddle you with amplified losses when the market moves against you. Therefore, we strongly advise entry-level users not to use highly leveraged trading to avoid forced liquidation or even bankruptcy.
3. Futures traders should also reasonably use leverage, adjust their positions, and learn when to take profits or cut losses by liquidating positions.
4. For more details about USDT/FCNY Futures, please refer to Help Center.
CoinEx reserves the final right of explanation of this announcement.
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We welcome ideas from the community and would love to continue providing better products as well as services to users over the globe.
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