Huobi Futures Launched USDT/USD Futures and Perpetual Swaps With Up To 1000x Leverage!

• Huobi launched its USDT/USD futures and perpetual swaps pairs with up to 1000x leverage!
• Huobi launched liquidity mining on 7 different crypto-margined swaps on its platform.

In a news release sent to our desks this Friday, Huobi exchange’s derivatives wing, Huobi Futures, announced the launch of its first stablecoin pair futures and perpetual swaps. At launch, the derivatives exchange-listed Tether’s stablecoin, USDT, against the U.S. dollar (USD) – USDT/USD – futures and perpetual swaps with up to 1000x leverage.

Huobi Futures will hold its USDT/USD perpetual swaps liquidity mining activity competition from Sep 26 till October 2 offering an prize pool of all transaction fees collected by the platform from USDT/USD swaps trading. During the activity period, the maker fees are zero while the takers pay a small 0.04% fee on their USDT/USD swaps trades.

The statement further read,

“All USDT/USD perpetual swaps transaction fee will be rebated to USDT/USD swaps makers in the proportion of total maker volume”.

Huobi Futures announced the launch of perpetual swaps liquidity mining activities including 63 coin-margined perpetual swaps, (including 28 kinds of DeFi swaps), 13 coin-margined delivery futures and BTC/USDT, ETH/USDT options. The USDT/USD futures and perpetual swaps pairs joined the list on Sep.25.

In an incentive to push the swap liquidity mining product into a larger market base, Huobireleased a $200,000 prize pool awarding the top market makers participating in the above mentioned liquidity mining activity. The event runs till October 1, 2020 23:59:59(GMT +8).

Huobi is currently riding the wave from the DeFi ecosystem aiming at connecting perpetual swaps with the decentralized finance market. As at the moment, 12 DeFi coin-margined perpetual swaps including Uniswap (UNI), yearn.finance (YFI), Chainlink (LINK), Sushi swap (SUSHI) and Polkadot (DOT) are listed on the exchange.