We are excited to announce the official launch of MINA leverage trading, savings products, and MINAUSDT perpetual contracts across our web platform, mobile app, and API interfaces.
This expansion offers traders and investors more ways to interact with MINA, enhancing flexibility and opportunity within their trading strategies.
MINA Leverage and Savings Features
MINA will be available for margin trading against USDT, allowing users to long or short the asset with borrowed funds.
Leverage Tiers
Leverage tiers and corresponding margin requirements are structured to manage risk effectively. These tiers determine the initial and maintenance margin rates required for positions at different sizes. Users are advised to review the specific margin requirements applicable to their expected trading volume to avoid unexpected liquidations.
👉 Check current leverage margin tiers
Savings Products
The savings feature, often referred to as "Earn" or "Savings" on platforms, allows users to earn interest on their idle MINA holdings by lending them out. The available interest rates and capacity for MINA will fluctuate based on market supply and demand.
It is a popular way to generate passive income from cryptocurrency assets that are not actively being traded.
MINAUSDT Perpetual Contract Specifications
The MINAUSDT perpetual contract is a key addition for derivatives traders. The detailed specifications are outlined below.
| Contract Element | Specification |
|---|---|
| Underlying Asset | MINA/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 1 MINA |
| Price Quotation | USDT price for 1 MINA |
| Minimum Price Movement | 0.001 USDT |
| Leverage | 0.01x to 75x |
| Funding Rate Calculation | Clamp(MA((Mid Price - Index)/Index - Interest), -0.75%, 0.75%); Interest = 0 |
| Trading Hours | 24/7 |
Important Initial Funding Rate Note
To ensure stability during the initial launch period, a modified funding rate cap will be in effect:
- Until June 9, 2021, at 24:00 (HKT), the maximum funding rate will be capped at 0.03%.
- After this time, the standard maximum funding rate cap of 0.75% will be restored.
The first settlement at the normal cap will occur on June 10, 2021, at 16:00 (HKT). This mechanism is designed to protect users from extreme volatility and potentially unreasonable funding rate payments during the market's initial price discovery phase.
Other standard trading rules for perpetual contracts, such as limit order parameters, apply to the MINAUSDT contract. These rules are consistent across our suite of trading products to provide a seamless experience.
👉 Learn more about perpetual contract trading
Frequently Asked Questions
What is a perpetual contract?
A perpetual contract is a type of derivatives product that allows you to speculate on the future price of an asset like MINA without an expiration date. It uses a funding rate mechanism to tether its price closely to the underlying spot market index.
How can I start trading MINA with leverage?
To start leverage trading, you need to ensure your account is funded and you have transferred assets to your margin account. Then, you can select the MINA/USDT pair on the margin trading interface, choose your desired leverage level, and execute your trade.
What determines the interest rate for MINA in the savings product?
Interest rates for savings products are determined algorithmically based on real-time supply (users lending assets) and demand (users borrowing assets) in the market. Higher demand to borrow an asset typically leads to higher interest rates for lenders.
Is there a risk of liquidation in leverage trading?
Yes, using leverage amplifies both gains and losses. If the market moves against your position and your equity falls below the maintenance margin requirement, your position may be automatically liquidated to prevent further losses. Always use risk management tools.
Why was the funding rate cap adjusted at launch?
Newly listed assets often experience high volatility and premium instability. The temporary lower funding rate cap at launch prevents unusually high funding payments in either direction, protecting both long and short traders during this initial period.
We are committed to providing a robust and secure trading environment with a wide array of products to meet the evolving needs of our users.