A professional crypto derivative trading platform, BaseFEX, has announced that the perpetual contracts of 3 most popular exchange platform tokens became available on March 28th, 2019. The 3 new contracts support up to 20x leverage.
Binance relaunched its Launchpad with several new tokens: Fetch.AI (FET) has seen 5 times growth since a series A round, and BitTorrent (BTT) 10 times. The success of Initial Exchange Offerings (IEOs) was inspiring, Huobi and OKEx, 2 other major platforms followed to launch their own offering projects, Huobi Prime (DPO) and OK Jumpstart. TOP Network, the first token of Huobi Prime was just launched and sold out in a few seconds on March 26th, Tuesday. Huobi announced that over 130,000 people participated in the IEO of TOP Network, and only 2968 of them made successful purchases. The TOP price soared for 26 times on Day 1.
The platform tokens of the 3 major exchanges became once again popular on the market, due to the success of these new IEO-alike projects and repurchase policies of the exchanges. Binance Coin(BNB) has seen roughly 300% growth in 3 months, Huobi Token(HT) rose by about 40% after the announcement of TOP Network, and OK Blockchain Token (OKB) rose by about 60% after the announcement of OK Jumpstart.
Huobi and OKEx have both opened leverage trading to help users trade on spot markets, but the high lending rate rejected a big portion of investors. BaseFEX, a new crypto derivative exchange, launches the perpetual contracts of the 3 tokens, providing more flexibility for investors, with the support of up to 20x leverage for the 3 tokens. For investors who hold great expectations, such a contract allows long positions with low leverage in the long run; for those who already hold a big amount of tokens, such a contract can be a risk hedge with short positions at high prices.
BaseFEX is one of the only two cryptocurrency futures exchanges in the world that support the cross-margin mode (the other being BitMEX, based in Hong Kong), a popular feature among professional traders. BaseFEX is already seeing a daily trading volume of over 200 million USD and increasing. The exchange supports 100x leverage for Bitcoin perpetual contract, and the world’s lowest commission fee, 0% for makers and 0.05% for takers.
BaseFEX development team uses a lot of cutting-edge internet technologies to make sure the trading engine is extremely reliable and fast, with 0 glitches processing buy and sell orders. By far the server overload probability has reduced to nearly 0%, while most of its competitors, such as BitMEX, are still harassed by this issue.
Before June 30th, 2019, all BaseFEX users can enjoy a 20% discount on their commission fees. Furthermore, big traders who reach 35 million USD trading volume in 7 continuous days can enjoy an additional 50% discount.