Bibox, one of the world’s leading crypto exchanges, has announced that the EOS perpetual contract trading will be available on March 20, 2019, and that LTC (Litecoin) is coming soon. As used to be the case, there will be no funding rate charged from buyers and sellers.
Launched on February 18, 2019, Bibox has already opened Bitcoin (BTC) and ETH (Ethereum) for its perpetual contract, allowing users to long or short in the contract market with a flexible leverage of up to 50x in line with their risk preference. What is so special about Bibox perpetual contracts is that they are based on the weighted-average price of 5 top crypto exchanges (Binance, Bibox, Huobi, OKEx,Bitfinex), and they are priced in USDT. Bibox has rolled out an individual and team trading competition with the reward of 1 BTC and 10 BTC for the champion respectively. More than 140 teams with almost 1000 participants who joined the team competition and traded accumulated 250 million contracts, and one user has earned 40,000 USDT in total, according to the official data. Now the second round of team competition is set to kick off with more tempting rewards, and the recruitment for team leaders is open to the public.
To celebrate the launch of the EOS/USDT perpetual contract, Bibox users are able to enjoy a 90% discount on transaction fees for EOS tokens trading from March 14 to March 22. The transaction fees for makers of EOS/USDT, EOS/BTC, and EOS/ETH will be lowered from 0.1% to 0.01%.
“Before the launch, we have already done the function and pressure tests over and over again, since security is the very first thing we value”, Bibox Co-Founder Kevin Ma told the media, “We wouldn’t launch the perpetual contract until all the indicators are qualified and achieved. Bibox will keep on innovating in the AI technology to improve our risk control system.”
Less than a month after the launch, the daily trading volume of Bibox perpetual contracts has already surpassed 100 million USD, taking up 16.8% of the total trading volume of both the spot market and contract market. As per the Bibox official data announcement, the high-frequency daily trading volume through API already exceeded 10 million USDT. Currently, the contract trading is available on Bibox App which supports the IOS & Andriod system in English, Chinese and Korean.
Bibox, an AI-enhanced crypto exchange, with a daily trading volume of around $300 million, has operation centers in the US, Switzerland, Canada, China, South Korea, Japan, Singapore, Vietnam., with plans to expand to more countries. Bibox traders enjoy secure, stable, and user-friendly digital assets managementservices, with access to over 100 high-quality coins and over 200 trading pairs.
