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    Gate.io Launches the Trading of 3X Long and Short Tokens of BTC, ETH, EOS, and XRP

    Create Time:2020-02-16 11:30:32 UTCRead:189046

    Issued by the FTX Crypto Derivatives Exchange, the FTX 3x leveraged tokens are ERC20 tokens that have exposure to crypto. The creation and redemption mechanisms of these tokens are managed by the exchange. In this way, users can trade these tokens without collateral (However, the annualized management fee of FTX on leveraged tokens is about 10.9%). The users can perform margin trading easily by trading and selling the tokens, which is similar to open a position in a Perpetual Contract with a trading fee. Therefore, a fee of trading these tokens will be charged according to certain market quotations. For example, take BTCBULL, a 3x long BTC token. For every 1% BTC goes up in a day, BTCBULL goes up 3%; for every 1% BTC goes down, BTCBULL goes down 3%. The exchange corrects the price of these tokens daily, followed by the rebalancing of these tokens, in order to reach their target leverage. Please note that the price of these tokens depends on their spread, irrespective of the price of their underlying token. Click here for more about the FTX 3x leveraged tokens: https://help.ftx.com/hc/en-us/articles/360032509552-Leveraged-Token-Walkthrough-READ-THIS

    3X Long Bitcoin Token: BTCBULL
    Trading time: UTC 3:00 February 17th, 2020 (The call auction is between 3:00 and 3:30.)
    Trade BITBULL at: https://www.gate.io/trade/BTCBULL_USDT
    Deposit BITBULL at: https://www.gate.io/myaccount/deposit/BTCBULL
    For app users, please enter “Market” for trading and enter “Wallets”- “Spot Account” for deposit.

    3X Short Bitcoin Token: BTCBEAR
    Trading time: UTC 4:00 February 17th, 2020 (The call auction is between 4:00 and 4:30.)
    Trade BTCBEAR at: https://www.gate.io/trade/BTCBEAR_USDT
    Deposit BTCBEAR at: https://www.gate.io/myaccount/deposit/BTCBEAR
    For app users, please enter “Market” for trading and enter “Wallets”- “Spot Account” for deposit.

    3X Long Ethereum Token: ETHBULL
    Trading time: UTC 5:00 February 17th, 2020 (The call auction is between 5:00 and 5:30.)
    Trade ETHBULL at: https://www.gate.io/trade/ETHBULL_USDT
    Deposit ETHBULL at: https://www.gate.io/myaccount/deposit/ETHBULL
    For app users, please enter “Market” for trading and enter “Wallets”- “Spot Account” for deposit.

    3X Short Ethereum Token: ETHBEAR
    Trading time: UTC 6:00 February 17th, 2020 (The call auction is between 6:00 and 6:30.)
    Trade ETHBEAR at: https://www.gate.io/trade/ETHBEAR_USDT
    Deposit ETHBEAR at: https://www.gate.io/myaccount/deposit/ETHBEAR
    For app users, please enter “Market” for trading and enter “Wallets”- “Spot Account” for deposit.

    3X Long EOS Token: EOSBULL
    Trading time: UTC 7:00 February 17th, 2020 (The call auction is between 7:00 and 7:30.)
    Trade EOSBULL at: https://www.gate.io/trade/EOSBULL_USDT
    Deposit EOSBULL at: https://www.gate.io/myaccount/deposit/EOSBULL
    For app users, please enter “Market” for trading and enter “Wallets”- “Spot Account” for deposit.

    3X Short EOS Token: EOSBEAR
    Trading time: UTC 8:00 February 17th, 2020 (The call auction is between 8:00 and 8:30.)
    Trade EOSBEAR at: https://www.gate.io/trade/EOSBEAR_USDT
    Deposit EOSBEAR at: https://www.gate.io/myaccount/deposit/EOSBEAR
    For app users, please enter “Market” for trading and enter “Wallets”- “Spot Account” for deposit.

    3X Long XRP Token: XRPBULL
    Trading time: UTC 9:00 February 17th, 2020 (The call auction is between 9:00 and 9:30.)
    Trade XRPBULL at: https://www.gate.io/trade/XRPBULL_USDT
    Deposit XRPBULL at: https://www.gate.io/myaccount/deposit/XRPBULL
    For app users, please enter “Market” for trading and enter “Wallets”- “Spot Account” for deposit.

    3X Short XRP Token: XRPBEAR
    Trading time: UTC 10:00 February 17th, 2020 (The call auction is between 10:00 and 10:30.)
    Trade XRPBEAR at: https://www.gate.io/trade/XRPBEAR_USDT
    Deposit XRPBEAR at: https://www.gate.io/myaccount/deposit/XRPBEAR
    For app users, please enter “Market” for trading and enter “Wallets”- “Spot Account” for deposit.

    Managing Risk (quoted from the official article from FTX):
    Leveraged tokens will automatically reinvest profits into the underlying asset; so if your leveraged token position makes money, the tokens will automatically add on 3x leveraged positions.

    In contrast, leveraged tokens will automatically reduce risk if they lose money. If you put on a 3x long ETH position and over the course of a month ETH falls 33%, your position will be liquidated and you will have nothing left. But if you buy ETHBULL instead, the leveraged token will automatically sell off some of its ETH as markets go down--likely avoiding liquidation so that it still has assets left even after a 33% downward move.

    *Risk warning: please note that prices fluctuate greatly in the cryptocurrency market, which means that 3x leveraged tokens bring greater risks. Users must be aware of the market risks and proceed with investments cautiously.

    Gate.io is a trading platform that does not charge listing fee, only launches quality projects, and provides users with a 100% guarantee and instant deposit-withdrawal services.
    Get 30% trading fee in the affiliate program at https://www.gate.io/myaccount/myreferrals

    Gate.io New Features:
    Spot Trading on Gate.io (200+ tokens):https://www.gate.io/trade/BTC_USDT
    Margin Trading on Gate.io (Long or Short):https://www.gate.io/margin_trade/BTC_USDT
    Perpetual Contract Trading:https://www.gate.io/futures_trade/BTC_USD
    Lending on Gate.io (secure and stable, high annual return):https://www.gate.io/margin/lend/USDT
    C2C Trading on Gate.io:https://www.gate.io/c2c/usdt_cny
    Download Gate.io APP:https://www.gate.io/mobileapp
    Download Wallet.io (ALL in ONE):https://www.wallet.io/

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    Gate.io
    February 16th, 2020



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