Exchange’s Live AMA to Unveil Plans for New USDT Perpetual Contracts

A derivatives exchange has announced it is taking part in an “ask me anything” livestream on Cointelegraph’s YouTube channel. 

Bybit's broadcast is going to be taking place on March 24 — and presently, the transmission is scheduled to commence at 11 a.m. EST.

The exchange’s CEO, Ben Zhou, is set to make a special announcement during the livestream: the upcoming launch of USDT perpetual contracts.

Viewers are being invited to submit their questions and get expert answers. The AMA will be hosted by Cointelegraph’s Jackson Dumont.

USDT perpetual contracts, explained

Under these contracts, USDT is used as both the quote currency and settlement currency. Long and short positions can be held concurrently and with differing levels of leverage. Bybit emphasizes its goal is to replicate the underlying spot market, but with elevated leverages. The changes mean that users only need USDT as capital in their wallets.

It is a well-known fact that many major cryptocurrencies (if not all) are susceptible to volatility — with prices constantly changing, often without reason. As USDT is a stablecoin, the company notes this asset “is relatively stable from the U.S. dollar traders’ perspective.”

Other features offered through Bybit include auto margin replenishment, helping to protect holdings against fluctuations in pricing. Unrealized profit and loss can also be shared across positions and contracts — meaning floating profit from a BTC/USDT pairing can be used to execute a trade in ETH/USDT. Floating profits can also be used to prevent vulnerable positions from being liquidated.

Bybit has also beefed up its chart features — unveiling three brand-new options that enable users to open positions quickly, which reduces the chance of them missing out on trades during times of high volatility. Positions can also be closed or inverted as a matter of urgency. The company adds that its margin requirements for most tiers “are significantly lower than our competitors and a more substantial step-up for each level.”

Plenty of enhancements are in the pipeline, and the derivatives exchange is also gearing up to launch insurance and an advanced conditional order system.

Trading for everyone

Bybit says there are several features that help it stand out in the crowded market of crypto exchanges.

Founded in March 2018 and headquartered in Singapore, the Bybit team says it is determined to serve everyone — from individual retail clients to professional derivatives traders.

Customer services are available 24 hours a day, seven days a week and in multiple languages. Perpetual contracts are offered across several trading pairs, including BTC/USD, ETH/USD, XRP/USD and EOS/USD.

Bybit’s team of founders includes a rich array of professionals from the forex industry, investment banking, and specialists who were early adopters of blockchain technology.

The exchange claims that a state-of-the-art matching engine paves the way for 100,000 transactions per second — with server availability of up to 99.99%, meaning that there is practically no downtime.

When it comes to the company’s philosophy, Bybit continues to stick to its ethos: “Listen, care and improve to provide the best possible trading experience and create a faster, fairer and more human trading environment.”

For now, preparations are in hand for the YouTube livestream this Tuesday, where loyal Bybit users and newcomers will learn more about what’s in store for the crypto exchange in the coming weeks and months.