Cryptocurrency exchange KuCoin has announced the launch of beta-version of KuMEX, a cryptocurrency platform that offers various leveraged contracts.
Initially, KuMEX will open the Bitcoin Perpetual Contract (XBTUSDM) which is quoted in USD and denominated in bitcoin (EXANTE: Bitcoin) and offers up to 20x leverage.
The platform will also support three types of contracts: limit, market and stop orders.
It's expected that after the official release of KuMEX, the platform will use 50% of the net revenue from KuMEX for KCS Bonus distribution for KCS holders.
In addition, KuCoin extended the period of locking tokens owned by the founders of the company and private venture investors:
"After discussing the partial release of the tokens with all parties holding locked KCS, we decided that these tokens should remain locked for another additional year until September 2, 2020. The agreement was made to help promote the growth and expansion of the exchange," states the announcement.
Earlier this year, KuCoin introduced a Sub-Account trading feature.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.