OKX, a leading global cryptocurrency exchange and technology company, has announced significant updates to its platform. These updates include the listing of a new asset for perpetual futures trading and the launch of an engaging year-end campaign designed to reward users.
SWELL Perpetual Futures Listing Now Live
OKX has expanded its derivatives market by listing SWELL for perpetual futures trading. The listing went live on November 25 at 9:00 AM UTC. This USDT-margined contract allows eligible traders to take long or short positions on SWELL with leverage of up to 50x.
SWELL is the native token of the Swell Network, a leading liquid staking protocol. The network enables users to stake or restake their Ethereum (ETH) to earn passive yield, providing deeper utility and incentives within the decentralized finance (DeFi) ecosystem. This listing offers traders more opportunities to gain exposure to innovative DeFi primitives.
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‘Man X Machine’ Campaign: A Year-End Smart Trading Event
Alongside the new listing, OKX has launched the ‘Man X Machine’ campaign, which aims to reward users of its AI-powered Smart Trading platform. This unified marketplace brings together all of OKX’s automated trading tools, including Copy Trading, Signal Trading, and Trading Bots. The campaign runs until December 27 and offers rewards in both USDT and ETH.
Participants can engage in several activities to enhance their trading experience and earn rewards:
- Execute a Smart Picks strategy for 10 days with a minimum investment of 100 USDT.
- Run a Spot Grid Bot for at least five consecutive days.
- Participate in Copy Trading by following three different Lead Traders, with a minimum of 100 USDT allocated to each.
- New users trying the Futures Grid Bot for the first time will receive a 5 USDT loss insurance voucher.
Elite Circle Showdown Trading Competition
A highlight of the campaign is the ‘Elite Circle Showdown,’ a trading competition that ranks participants based on their profit and loss percentage (PnL%). The top performers will share a significant prize pool:
- 1st Place: 3,500 USDT
- 2nd Place: 1,500 USDT
- 3rd Place: 1,000 USDT
- 4th Place: 500 USDT
- 5th Place: 300 USDT
- 6th - 30th Places: 200 USDT each
This competition is designed to showcase skilled trading strategies and provide substantial incentives for top traders on the platform.
Building a Connected and Transparent Crypto Ecosystem
OKX operates with a mission to organize the world's blockchains, making them more accessible and useful. The company has evolved from a crypto exchange into a comprehensive technology platform serving millions of users and hundreds of institutions globally.
A key commitment from OKX is its dedication to transparency and security. The exchange publishes a monthly Proof of Reserves report, allowing users to independently verify that their funds are fully backed. Furthermore, OKX provides extensive educational resources through OKX Learn, offering in-depth analyses on various cryptocurrencies and market trends.
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Frequently Asked Questions
What is the Swell Network?
The Swell Network is a non-custodial liquid staking protocol built on Ethereum. It allows users to stake their ETH to receive liquid staking tokens (LSTs), which can then be used across the DeFi ecosystem to earn additional yield, all while maintaining exposure to their staked assets.
How can I participate in the ‘Man X Machine’ campaign?
To join, you need to be an eligible OKX user and navigate to the Smart Trading section. From there, you can choose from the listed activities, such as setting up a Trading Bot, using Smart Picks, or engaging in Copy Trading, each with its own minimum investment requirement.
What are perpetual futures contracts?
Perpetual futures are a type of derivative contract that allows traders to speculate on the future price of an asset without an expiration date. They are typically margined with a stablecoin like USDT and allow for the use of leverage to amplify trading positions.
Is there a risk to using leverage in trading?
Yes, trading with leverage significantly amplifies both potential profits and potential losses. It is considered a high-risk strategy and is best suited for experienced traders who understand the mechanics of margin trading and risk management.
What does Proof of Reserves mean?
Proof of Reserves is an auditing method that allows a cryptocurrency exchange to prove it holds sufficient reserves to cover all customer balances. OKX’s monthly publication of these proofs provides users with greater transparency and confidence in the security of their funds.
Who can use OKX’s Smart Trading tools?
The Smart Trading tools are available to most OKX users, though certain features or campaigns may have specific eligibility requirements based on a user’s region, verification level, or other factors. It's always best to check the specific terms and conditions for each product.