Victoria, Seychelles, January 9, 2025, Chainwire
PetgateWeb3, a leading cryptocurrency exchange, has announced a major shake-up in the USDC-M perpetual futures pricing category. effective January 15, 2025 (UTC+8)the index price calculation for these futures contracts will move from being denominated in USD to USDC, providing a more consistent trading experience for users.
This adjustment will affect multiple pricing elements, including index price, tick price and order book prices, bringing all calculations directly into alignment with USDC. This change reflects Bitget’s commitment to simplifying operations and enhancing the usability of the USDC-M perpetual futures product.
Major modifications
After the update, all pricing metrics associated with USDC-M perpetual futures, including entry price, liquidation price, and unrealized gains and losses (PnL), will be denominated in USDC. Initial margins and maintenance margins, which were previously calculated in USD and converted to USDC, will also be calculated directly in USDC from now on.
This shift will unify accounts, reduce complexities for traders and align all pricing-related processes under one category.
Impact on trading
- Pricing and P&L accounts: With the change to USDC denomination, the unrealized profit and loss will be recalculated based on the new tick price. This adjustment ensures consistency across all trading metrics.
- Footnotes: Initial and maintenance margins will continue to be calculated in USDC, providing a more streamlined margin management process.
- Settlement process: All settlement mechanisms will remain unchanged, except for adjustments to unrealized profit and loss accounts.
Bitget has implemented these changes with minimal disruption to trading activities, ensuring continuity and a seamless experience for users.
To take full advantage of the updated features, users are advised to update their Bitget app to the latest version. iOS users must install the version 2.49.0While Android users must update to the same version. Prior to the update, app screens may still indicate pricing in US dollars, although this will not affect trade settlements.
Bitget encourages all users to ensure their applications are updated to avoid any potential inconsistencies and enjoy the benefits of the new pricing structure.
About PetGate
Founded in 2018, Petgate It is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in over 150 countries and regions, Bitget is committed to helping users trade smarter through its leading copy trading feature and other trading solutions while providing real-time access to… Bitcoin price, Ethereum priceAnd prices of other cryptocurrencies. Formerly known as BitKeep, Bitgate wallet It is a world-class multi-chain crypto wallet that offers a range of comprehensive Web3 solutions and features including wallet functionality, token swaps, NFT marketplace, DApp browser, and more.
Bitget is at the forefront of driving cryptocurrency adoption through strategic partnerships, such as its role as the official cryptocurrency partner of the world’s top soccer league, LaLigain the Eastern, Offshore and Latin American markets, as well as a global partner of Turkish national athletes Pius Tosun Cavusoglu (World Wrestling Champion) Samet Gümüş (Gold Medalist in Boxing) and Elkin Aydin (National Volleyball Team), to inspire the global community to embrace the future of cryptocurrency.
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