Dear Hoo users,
We, at Hoo.com, are excited to announce that the Perpeual Contract trading will go live on Jan. 8 (UTC+8)!
Hoo Perpeual Contract is a positive perpetual contract with USDT standard which is the simplest type of contract - the pricing currency and the settlement currency are the same. Take BTC/USDT positive contract as an example, BTC is the underlying coin and USDT is the pricing and settlement coin. It is similar to spot trading and is user friendly for traders.
Introduction to Hoo Perpetual Contract
Trading time: 7/24
Settlement time: Real-time settlement, but only realized profit can be withdrawn
Margin calculation gradient: The initial rank is level 1,. For a certain number of contract positions, the rank will go up for one level; for details, please refer to risk limitation
Initial margin=1% * gradient rank + estimated trading fee
For the buying price higher than the mark price or the selling price lower than the mark price, extra margin will be charged.
Maintenance margin = 0.5% * gradient rank
Reasonable mark price: To avoid unnecessary liquidation, Hoo adopts reasonable mark price to evaluate if a user’s margin is enough
Funding fee collection intervals: every 8 hours
Service fee: Maker - 0.035%, Taker - 0.075%
Liquidation: If the margin is lower than the maintenance margin, the contract will be liquidated. And the rest of the assets will be returned to the trader
Partial liquidation: Perceptual contract is a highly speculative investment product. Hoo will deal with the losses through partial liquidation
Prior to its launch, users are encouraged to make a reservation to get up to 15USDT trading funds. Reserve here: https://forms.gle/LnQqUM5bJEhKeajf7
Jan. 5, 2020