We are excited to share that USDT-margined pre-market futures for DOGS will be available starting at 3:00 am UTC on August 5, 2024. This update applies to the web platform, mobile application, and API services, offering a new way to engage with emerging digital assets.
What Are Pre-Market Futures?
Pre-market futures enable traders to engage with expiry futures contracts for cryptocurrencies before their official listing on the spot market. These USDT-margined contracts are typically settled ahead of the asset’s public trading debut. This innovative product is designed to offer a secure and structured environment for early price discovery.
Key Features of DOGS Pre-Market Futures
The DOGS pre-market futures contract includes the following specifications:
- Underlying Asset: DOGS/USDT index (based on the contract’s last price)
- Settlement Currency: USDT
- Face Value: 1000 DOGS
- Price Quotation: USDT price for 1 DOGS
- Tick Size: 0.000001
- Leverage: 0.01x to 2x
- Trading Hours: 24/7
- Contract Type: Expiry futures
- Delivery Time: To be announced; usually occurs before the spot market listing.
This structure differs from standard expiry futures in several mechanisms, including tiered and user-specific position limits.
Tiered Position Limits and User Caps
To manage risk, the exchange implements a tiered system for open positions and specific limits for different user types.
Tiered Margin and Position System
| Tier | Max Open Positions (Contracts) | MMR | IMR | Max Leverage |
|---|---|---|---|---|
| 1 | 1,000 | 15% | 50.00% | 2x |
| 2 | 2,000 | 18% | 50.00% | 2x |
| 3 | 3,000 | 19% | 100.00% | 1x |
| 4 | 4,000 | 20% | 100.00% | 1x |
| 5 | 6,000 | 21% | 100.00% | 1x |
| 6 | 8,000 | 22% | 100.00% | 1x |
| 7 | 10,000 | 23% | 100.00% | 1x |
| 8 | 12,000 | 24% | 100.00% | 1x |
| 9 | 14,000 | 25% | 100.00% | 1x |
| 10 | 16,000 | 26% | 100.00% | 1x |
| 11 | 18,000 | 27% | 100.00% | 1x |
| 12 | 20,000 | 28% | 100.00% | 1x |
MMR: Maintenance Margin Rate; IMR: Initial Margin Rate
User-Specific Position Limits
| User Type | Position Limit (Contracts) |
|---|---|
| USDT-margined futures DMM user | 20,000 |
| Non-USDT-margined futures DMM user | 2,000 |
For comprehensive details on all trading rules, including limit prices and tier levels, traders should consult the official help center.
An Overview of the DOGS Token
The DOGS token draws its inspiration from Spotty, a mascot created by TON founder Pavel Durov for the Telegram community. It aims to embody the unique spirit and culture of its origin.
- Asset Name: DOGS
- Ticker: DOGS
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Important Risk Disclosures for Traders
Engaging in pre-market futures trading involves significant risk. Participants must understand the following points before allocating capital.
- Unconfirmed Issuance Plan: The project team has not finalized the token's issuance details or total supply. Any changes to these metrics can lead to substantial price volatility. Traders must stay informed and employ rigorous risk management strategies.
- Price Discovery Mechanism: Prices in the pre-market are driven by trader sentiment and market behavior. They are speculative and may not accurately predict the final listing price on the spot market.
- Listing Uncertainty: Trading a pre-market futures contract does not guarantee that the asset will ultimately be listed for spot trading. All listing details are subject to official announcements.
The exchange reserves the right to suspend pre-market trading at any time at its sole discretion.
Frequently Asked Questions
What are pre-market futures?
Pre-market futures are expiry contracts that allow trading of a cryptocurrency before it is officially listed on the spot market. They are settled in USDT and are designed for early price discovery, providing a way to speculate on an asset's future value.
How is leverage applied to DOGS pre-market futures?
Leverage for the DOGS contract ranges from 0.01x to a maximum of 2x. The allowable leverage decreases as a trader's open position size increases across the tiered system, which is designed to mitigate risk.
What determines the delivery time for these futures?
The delivery time is not set at launch. These contracts are typically delivered just before the cryptocurrency is listed on the spot market. The exact delivery date will be communicated through an official announcement at a later time.
Who has higher position limits?
Users designated as USDT-margined futures DMM (Designated Market Maker) users have a significantly higher position limit of 20,000 contracts compared to the 2,000-contract limit for non-DMM users.
Are the prices in pre-market trading reliable?
Prices are determined by market activity and are purely speculative. They should not be considered a reliable indicator of the eventual spot listing price, as they can be highly volatile and influenced by market sentiment.
What is the biggest risk of trading DOGS pre-market futures?
The primary risk is the uncertainty surrounding the token's official issuance and final listing. Since the project's details are not fully confirmed, unexpected changes can lead to sharp price movements and potential losses.