OKX to list perpetual futures for TAO crypto
We are pleased to announce that USDT-margined perpetual futures for TAO will be enabled at 5:00 am UTC on September 20, 2024.
The updates will cover both the web and app interfaces as well as the API. The details are as follows:
I. Listing schedule
TAO/USDT perpetual futures trading will open at 5:00 am UTC on September 20, 2024.
II. Perpetual futures trading
TAOUSDT perpetual futures:
Bittensor is a decentralised platform that enables the creation of a peer-to-peer market for machine intelligence, allowing for the collective sharing and expansion of knowledge through a distributed network.
Project name：Bittensor
Project ticker：TAO
Official website：https://bittensor.com/
Features | Details |
Underlying | TAO/USDT index |
Settlement crypto | USDT |
Face value | 0.01 |
Price quotation | 1 TAO value calculated in USDT equivalent |
Tick size | 0.1 |
Leverage | 0.01-50x |
Funding fee | Clamp(MA([(Best bid + Best offer) / 2 – Spot index price] / Spot index price – Interest), -0.75%, 0.75%), Interest = 0 Note: Funding fees are received and deducted based on the current period. |
Trading hours | 24/7 |
III. Index weights and constituents
TAOUSDT perpetual futures:
Index constituents | Weightage |
Binance | 50% |
Bitget | 25% |
Gate | 25% |
Note: When a new contract is launched, the premium is unstable. To avoid unreasonable charges, the upper limit of the funding fee before 4:00 pm UTC on September 20, 2024 is 0.03%. After 4:00 pm UTC on September 20, 2024, the upper limit of the predicted funding fee will be adjusted back to normal 1.50%. (The funding fee for this period will be charged at 8:00 pm UTC on September 20, 2024.)
The price limit rules of TAO USDT-margined perpetual futures trading are the same as those of other currencies. Please refer to our perpetual futures trading guides for further details.
USDT-margined perpetual futures trading: OKX Perpetual Futures Trading User Agreement
OKX team
September 20, 2024