OKX has launched pre-market futures, allowing users to trade futures contracts with leverage for upcoming tokens before public sale. This new feature aims to provide better liquidity, lower fees, and early market entry for traders.
Points
- OKX introduces pre-market futures for trading upcoming tokens with leverage.
- This feature allows early market entry and better liquidity.
- Lower fees compared to other major pre-market products.
- The first token available for Pre-Market Futures trading is the HMSTR token.
OKX, a leading cryptocurrency exchange, has unveiled a new feature aimed at enhancing crypto trading experiences: pre-market futures. This innovative offering allows users to trade futures contracts with two-times leverage for upcoming tokens before they are publicly sold. This move is set to revolutionize the way traders interact with new tokens, providing them with early market entry and improved liquidity.
Participating in Upcoming Token Launches
According to the company’s announcement, this new feature enables traders to engage with tokens even before their official market debut. By offering futures contracts with leverage, OKX aims to create a platform that opens new avenues in the crypto trading world. The futures contracts incorporate mechanisms from its expiry futures product, promising a better experience than traditional peer-to-peer （P2P） pre-market offerings. This allows customers to trade without needing to hold the underlying asset.
Lennix Lai, OKX’s Global Chief Commercial Officer, highlighted the innovative approach: “Our unique approach to assisting in the price discovery process for early-stage tokens is backed by our robust risk engine and extensive experience. By opening up new avenues to participate in crypto, we aim to make trading more accessible, efficient, and appealing.”
Enhancing P2P Pre-Market Products
OKX’s Pre-Market Futures grants traders early entry into the market, allowing them to engage in price discovery and capitalize on the initial buzz around new tokens. This feature aims to provide superior liquidity compared to existing P2P-based pre-market products. Additionally, OKX’s new product promises lower fees compared to other major P2P-based pre-market products, making it a cost-effective option for traders looking to launch new token offerings.
The first token available for Pre-Market Futures trading is the HMSTR token from the Telegram mini-app game Hamster Kombat. This addition exemplifies OKX’s commitment to providing exciting new opportunities for its users.
Recent Regulatory Adjustments
Most recently, OKX discontinued its services in Nigeria due to changes in local regulations. This step followed months of gradual service reduction, culminating in a complete exit by mid-August. In an email sent to clients in the region, the crypto exchange mentioned that all services would stop by August 16. Past this date, users will only access the platform to withdraw funds or close positions.
In another report, OKX suspended its license application to provide crypto services in Hong Kong and plans to discontinue centralized crypto trading services for users in the region. The exchange said it would withdraw its VASP license application and suspend centralized crypto asset trading services for Hong Kong residents.
Conclusion: A Forward-Thinking Approach
In conclusion, OKX’s introduction of pre-market futures represents a forward-thinking approach to crypto trading. By allowing traders early access to upcoming tokens with leverage and lower fees, OKX is setting new standards in the industry. The launch of the HMSTR token as the first offering under this new feature underscores the platform’s commitment to innovation and user engagement. As regulatory landscapes evolve, OKX continues to adapt and provide cutting-edge solutions to its global user base.