We're excited to announce major platform upgrades coming to OKX on October 6, 2023, at 4:00 am UTC. This update introduces three significant enhancements for Wall Street Memes (WSM) traders:
- WSM/USDT Perpetual Swap Listing
- Margin Trading Activation
- Simple Earn Integration
I. Comprehensive Trading Features Update
Margin Trading Implementation
- New Trading Pair: WSM/USDT spot margin trading
- Tiered Margin System: Customizable leverage options
- Risk Management: Position tiers determine borrowing limits
👉 Discover how tiered margins protect your investments
Simple Earn Product Inclusion
- Flexible savings options for WSM holders
- Competitive yield opportunities
- Automatic interest accrual
II. WSM Perpetual Swap Specifications
The new WSMUSDT perpetual contract offers traders advanced features:
| Feature | Specification |
|---|---|
| Contract Type | USDT-margined perpetual swap |
| Index Calculation | WSM/USDT price index |
| Contract Value | 100 WSM per contract |
| Price Precision | 0.00001 USDT |
| Leverage Range | 0.01x to 50x |
| Funding Mechanism | Clamped rate with 0.75% ceiling |
| Market Availability | 24/7 trading |
Special Note: Initial funding rate cap of 0.03% until 4:00 pm UTC October 6 for market stabilization.
III. Risk Management Protocols
- Standard price limit rules apply matching other perpetual contracts
Funding rate calculations incorporate:
- Premium index
- Interest rate differentials
- Market volatility factors
👉 Master perpetual swap trading strategies
FAQ Section
Q: When can I start trading WSM perpetual contracts?
A: Trading commences October 6, 2023 at 4:00 am UTC simultaneously across web, mobile, and API platforms.
Q: What's the maximum leverage for WSM margin trading?
A: The platform offers up to 50x leverage, though we recommend conservative levels for new traders.
Q: How does Simple Earn differ from regular holdings?
A: Simple Earn automatically generates yield on idle WSM tokens without active trading requirements.
Q: Why the temporary funding rate cap?
A: This measure prevents excessive fees during initial market formation when price discovery occurs.
Q: Are there special requirements for margin trading WSM?
A: Standard margin rules apply - maintain adequate collateral to avoid liquidation events.
Q: Can I access these features via mobile app?
A: Yes, all new WSM features synchronize across OKX's web and mobile interfaces.
Final Notes
This strategic expansion demonstrates OKX's commitment to providing comprehensive trading solutions for meme coin enthusiasts and professional traders alike. The WSM integration combines leveraged trading opportunities with passive income features - a rare combination in crypto exchanges.
Remember to:
- Review the Perpetual Swap Trading Agreement
- Monitor positions during volatile market openings
- Utilize appropriate risk management tools
Stay updated with OKX's continuous platform improvements designed to enhance your digital asset trading experience.