Dear OKX Users,
We're excited to announce that LOOKS leverage trading, savings products (Earn), and LOOKS/USDT perpetual contracts will be officially available across our web platform, mobile app, and API starting February 17, 2022, at 18:00 (HKT). Below are the detailed specifications:
I. Leverage Trading & Savings Products
1. Trading Pairs
- LOOKS/USDT pair will be available for margin trading
2. Leverage Tiers
The tiered margin system will apply as follows:
- Refer to our Leverage Trading Tier Guidelines after launch
3. Earn Product Limits
- Savings product quotas will follow our 👉 OKX Earn Rules
II. Perpetual Contracts Specifications
LOOKS/USDT Perpetual Contract Details:
| Contract Parameter | Specification |
|---|---|
| Underlying Asset | LOOKS/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 1 LOOKS |
| Price Quotation | USDT price per 1 LOOKS |
| Minimum Price Movement | 0.0001 |
| Available Leverage | 0.01x - 75x |
| Funding Rate Calculation | Clamp(MA((Mark Price - Spot Index)/Spot Index), -0.75%, 0.75%) |
| Trading Hours | 24/7 |
Special Notes:
- During initial launch (until February 17, 2022, 24:00 HKT), funding rate caps will be temporarily set at 0.03% to prevent volatility
- Standard 0.75% caps will resume after February 18, 2022, 16:00 (HKT)
FAQ Section
Q1: What makes LOOKS perpetual contracts unique?
A: LOOKS contracts offer up to 75x leverage with USDT settlement, following the same reliable trading mechanisms as our other perpetual contracts.
Q2: How do the savings products work for LOOKS?
A: Our Earn program allows you to generate passive income by lending your LOOKS holdings, with rates determined by market demand.
Q3: Are there any special risk considerations for LOOKS margin trading?
A: As with all leveraged products, we recommend using stop-loss orders and maintaining adequate margin levels, especially during high volatility periods.
OKX remains committed to delivering exceptional trading products and superior service. Start trading LOOKS derivatives today!
Last Updated: February 2022
Key Features Optimized:
- Removed promotional website references
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