Today, cryptocurrency exchange Huobi launched IOST/USDT margined swaps, deposits, and all transactions are now enabled supporting 1x to 75x leverage.
IOST is the 50th token in this contract, which also includes leading tokens such as BTC and ETH.
The newly launched IOST/USDT contract is a long perpetual contract, with the following features:
- Stablecoin (USDT) as collateral.
- No delivery date.
- The primary mechanism for anchoring the spot price is the “Funding Mechanism.”
- Swaps are settled every 8 hours. The settlement timestamps are 0:00, 08:00, and 16:00 (GMT+8).
- Users may withdraw the realized P&L immediately after settlement.
IOST is a decentralized blockchain network based on the next-generation consensus algorithm “Proof of Believability” (PoB).