OKX to list pre-market futures for GRASS crypto
We are pleased to announce that USDT-margined pre-market futures for GRASS will be enabled at 7:30 am UTC on Oct 14, 2024.
The updates will cover both the web and app interfaces as well as the API. The details are as follows:
Pre-market Futures:
OKX Pre-market Futures allows you to trade expiry futures on crypto that have not yet been officially listed. These pre-market futures are USDT-margined and are usually delivered before the new crypto is listed on the spot market. OKX has introduced the pre-market futures trading feature to provide users with a safe and reliable platform for participating in the price discovery of new cryptocurrencies.
Pre-market futures contract:
Features | Grass |
Underlying | GRASS/USDT index (index is the last price of the contract) |
Settlement crypto | USDT |
Face value | 1 GRASS |
Price quotation | Quote based on the USDT price of 1 GRASS. |
Tick size | 0.0001 |
Leverage | 0.01 - 2x |
Trading hours | 24/7 trading |
Contract type | Expiry futures |
Delivery time | The futures delivery date has not been determined. Pre-market futures are usually delivered after the crypto is listed on the spot market. The specific delivery date will be announced separately. |
OKX Pre-market Futures differs from the standard OKX expiry futures in some product mechanisms. Tiered position limits and user-specific position limits are as follows:For details on trading rules such as limit prices and tier levels, please refer to the Introduction to Pre-market Futures.
1. Tiered position limits
Tier | Max open positions (Contracts) | MMR | IMR | Max leverage |
1 | 4,000 | 15% | 50.00% | 2 |
2 | 8,000 | 18% | 50.00% | 2 |
3 | 15,000 | 19% | 100.00% | 1 |
4 | 20,000 | 20% | 100.00% | 1 |
5 | 30,000 | 21% | 100.00% | 1 |
6 | 40,000 | 22% | 100.00% | 1 |
7 | 50,000 | 23% | 100.00% | 1 |
8 | 60,000 | 24% | 100.00% | 1 |
9 | 70,000 | 25% | 100.00% | 1 |
10 | 80,000 | 26% | 100.00% | 1 |
11 | 90,000 | 27% | 100.00% | 1 |
12 | 100,000 | 28% | 100.00% | 1 |
2. User-specific position limits
User type | Position limit |
USDT-margined futures DMM user | 100,000 |
Non USDT-margined futures DMM user | 8,000 |
Token Description:
Grass is a decentralised data layer built specifically for artificial intelligence, enabling access to verifiable web data through a distributed network of users sharing their internet bandwidth.
Asset name: Grass
Ticker: GRASS
Website: https://www.getgrass.io/
Twitter: https://x.com/getgrass_io
Risk reminders:
The crypto project team has not yet confirmed the crypto issuance plan, and the total supply is uncertain. Changes in issuance volume may cause market price fluctuations. Users should stay informed about market conditions, exercise risk control, and trade cautiously.
Prices in the pre-market futures are determined by market behavior and may not accurately reflect the actual listing price of the new crypto.
The pre-market futures don’t guarantee that the crypto will eventually be listed on the spot trading. Refer to OKX announcements for specific listing details.
OKX may suspend such trading in pre-market conditions at any time and at its sole discretion. Please refer to Terms of Service and Risk & Compliance Disclosure for more details.
OKX team
Oct 14, 2024