We are excited to announce the official launch of NOT perpetual contracts, margin trading, and simplified earnings features. This update enables users to trade and earn with NOT across multiple product offerings.
The NOT/USDT perpetual contract went live on May 16, 2024, at 8:30 PM UTC+8. Margin trading and the simplified earn feature for the NOT/USDT pair became available starting May 17, 2024, at 12:00 PM UTC+8. All services are accessible via the web platform, mobile app, and API.
NOT Margin Trading and Simplified Earn
Margin trading for the NOT/USDT pair is now available, allowing users to leverage their positions. The simplified earn feature also enables users to generate yields on their NOT holdings effortlessly.
Specific details regarding leverage tiers and initial earning limits can be found directly on the platform post-launch. We advise users to review these parameters carefully before engaging in trading or earning activities.
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NOT Perpetual Contract Specifications
The NOT/USDT perpetual contract introduces a new derivative instrument for traders. Key contract details are summarized below.
Key Contract Details
| Contract Element | Specification |
|---|---|
| Underlying Asset | NOT/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 100 NOT |
| Price Quotation | USDT price for 1 NOT |
| Minimum Price Movement | 0.000001 |
| Leverage | 0.01x to 50x |
| Funding Fee Calculation | Clamp(MA([(Contract Best Bid + Contract Best Ask) / 2 – Spot Index Price] / Spot Index Price – Interest), -0.75%, 0.75%); Interest = 0 |
| Trading Hours | 24/7 |
Important Initial Funding Rate Notice
To ensure stability during the initial launch phase, a special funding rate cap is in effect. The maximum funding rate was set at 0.03% until 12:00 AM UTC+8 on May 17, 2024. After this time, the standard maximum rate of 1.50% resumed.
The first funding fee collection under the standard cap occurred at 8:00 AM UTC+8 on May 17, 2024. All other trading rules, including limit order parameters, align with existing perpetual contracts for other assets.
Maximizing Your NOT Trading Experience
Understanding these new features can help you make informed decisions. Margin trading amplifies both potential gains and losses, so risk management is crucial. Perpetual contracts require attention to funding rates, especially in volatile markets.
The simplified earn feature offers a more hands-off approach to generating returns on your crypto assets. It's designed for users seeking yield without active trading.
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Frequently Asked Questions
What is the NOT/USDT perpetual contract?
It is a derivative product that allows you to speculate on the future price of NOT against USDT without an expiration date. The contract is settled in USDT and uses an index price to determine its value.
How does leverage work in NOT margin trading?
Leverage allows you to open a position larger than your initial capital. For example, with 10x leverage, a $100 margin can open a $1,000 position. It magnifies profits but also increases potential losses.
What is the simplified earn feature for NOT?
It is a passive earning product where you can allocate your NOT tokens to generate yield. The platform handles the technical aspects, and you earn rewards based on the amount you commit and the prevailing rates.
Why was there a special funding rate cap initially?
New perpetual contracts can experience high price volatility and premium instability at launch. The temporary lower cap prevented unusually high funding fees from being applied during this initial settlement period, protecting traders.
Are these services available worldwide?
Availability is subject to local laws and regulations. Users should check their local regulations to see which services are accessible in their region.
Where can I find the most current leverage tiers?
All current and accurate information regarding leverage tiers, interest rates, and staking limits is always available and updated within the platform's respective product sections.