It is reported that the BaseFEX Futures Exchange, which is invested by Zhengge and Yuanyuan, has launched HT, BNB and OKB perpetual contracts on March 28, 2019, Beijing time, and supports up to 20 times leverage to provide hedging and leverage for platform investors. Do more investment options. In the 6 days of the online launch, the number of trading users exceeded 2,000, and the transaction volume exceeded 1 billion US dollars.
It is understood that BaseFEX believes that the digital currency futures trading market is in the early stage of the industry, there is still room for growth in volume, and there are many problems in the products and services of the trading platform.
Futures trading plays an important role in traditional financial markets, both as a retail investment allocation and as an institution's risk management tool. The spot market turnover of China's securities market in 2018 is about 120 trillion yuan, and the futures turnover is about 30 trillion yuan. It is 4:1. In April 2019, the global digital currency spot daily turnover was about 500 billion yuan, and the futures trading volume was about 5 billion, with a ratio of 10:1.
In terms of products, fairness, security and service have become recognized challenges in the digital currency futures industry.
Among the major contract exchanges, the contract price has deviated significantly from the spot index and the order has been placed, resulting in hundreds of thousands of user data explosions, and even hundreds of millions of yuan. However, these users have not only defended their rights, but even The basic requirements for the data to be traded to the platform are not available.
At present, many exchanges have great security risks, including technical and exchange operating mechanisms, and two risks. At the end of 2017, Youbit, the famous old exchange in South Korea, declared bankruptcy due to hacking losses of huge amounts of money. In January 2018, the Japanese exchange Coincheck was hacked, and more than $500 million worth of new coins were stolen. In December 2018, Gerald Cotton, the founder of QuadricaCX, the Canadian digital currency exchange, died of illness. Because the exchange’s key was only owned by Coton, the $190 million digital currency and legal tender were “locked”. Thousands of users can't withdraw cash.
On the product, most futures exchange mechanisms are not flexible enough. For example, there are fewer types of leverage supported, and they cannot be adjusted at any time. They cannot meet professional traders and timely adjust the strategy for market conditions.
The BaseFEX platform, launched in early 2019, focuses on fairness, security, and service, and aims to improve the product.
BaseFEX calculates profit and loss and margin through reasonable mark price, avoiding unnecessary forced liquidation of traders on highly leveraged products. The reasonable price is equal to the target index price plus the capital cost basis of declining time, effectively eliminating the mark price Market manipulation or lack of liquidity deviates from the price index, resulting in unnecessary forced liquidation. BaseFEX's index price comes from the average price of multiple exchanges, avoiding price fluctuations caused by the manipulation of an exchange price.
At the same time, BaseFEX exchange provides 7*24 hours of multi-language customer service. If the user has any problems with the transaction results, the professional will solve the problem for the first time. The platform will provide reasonable compensation for the user loss caused by the platform problem. The solution guarantees the interests of every investor.
The BaseFEX platform's own technical solutions and industry endorsements provide investors with a good foundation of trust.
BaseFEX's trading system is all self-study, 100% of assets are stored in cold wallets that require multiple signatures to unlock, and any asset transfer requires at least 5 signatures from 7 partners to protect trader funds and prevent team members. The liquidity brings hidden dangers to assets. The platform is manually audited and processed at 3 pm every day in Beijing time.
In terms of industry endorsement, the BaseFEX team has had successful entrepreneurial experience. The core members of the team are from the top Internet and financial companies in Google, Baidu, Firecoin, Industrial Futures and other industries. They have extensive experience in trading engines and Internet financial products. It has obtained investment from well-known institutions such as Zhenge Fund and Yuanyuan Venture Capital.
The investment background of well-known institutions provides a full endorsement of the professionalism of the platform. In addition, the investment institution and the core members of the team have many years of cooperation experience, fully trust the development potential of the BaseFEX team in the direction of the Internet and financial products, and optimistic about the market of digital currency futures, only to invest in the product before the product goes online. BaseFEX.
The BaseFEX platform supports 1~100x leverage, setting risk limits arbitrarily, and adjustments can take effect in real time. And you can switch between the full position and the warehouse mode at any time, to ensure that the trader can respond to any market in a timely manner, and provide a stable API trading interface.
At present, the platform supports reverse contracts, and has already launched four sustainable contracts of BTC, BNB, HT and OKB. The platform currency hedging service has evaded the risk of platform currency falling for new users of IEO.
The platform attracts thousands of traders and dozens of market-making teams from around the world, with daily transactions exceeding $200 million.
The BaseFEX fee is relatively low, with a pending order rate of 0% and a payable rate of 0.05%. Before June 30, 2019, you can enjoy a 20% discount on the handling fee. For 7 consecutive days, large customers with a cumulative transaction amount of more than 35 million US dollars can be reduced by 50% based on the 0.05% handling fee.
At present, the platform is recruiting the first batch of angel users, participating in the early construction of the platform, and enjoying the platform's experience gold, fee deduction, chief analyst guidance and other generous feedback, the details can be added to the official micro-signal basefex for consultation.
Official website: https://www.basefex.com WeChat: basefex