Bitget, a derivatives exchange, officially launched the Quanto Swap Contract demo mode and held the Quanto Swap Contract Demo Mode Elite Trading with a $200,000 prize pool. In addition, Bitget also distributed BTC, ETH and other demo funds to the demo account of all the registers of Bitget. Users can use these demo fund to participate in the event during Apr. 6- Apr. 13, 2021 (UTC+8).
Last week, Bitget issued an announcement that it would launch brand-new contract products - USDT Unified Account and Quanto Swap Contract. These two contract products aim to meet the needs of more trading users and improve user experience. In order to make more users get familiar with products and reduce the trading risk, Bitget has launched the Quanto Swap Contract Demo Mode. In the meanwhile, Bitget will launch the Quanto Swap Contract Demo Mode Elite Trading with a $200,000 prize pool.
In order to improve users experience products, Bitget has distributed 1BTC, 5ETH, 100EOS and 3000USDT demo funds to the demo account of users. Users can participate in the competition with these funds.
This competition is composed of the Elite Trading and the Advising Elite. A $100,000 prize pool is set up for each competition. The ranking of the Elite Trading will be subject to the individual rate of return of participators. The top three users in the ranking will win $ 30,000, $ 25,000 and $ 20,000. Users from the fourth place to the tenth place will share the rest $ 25,000 equally.
The Advising Elite aims to encourage users to put forward valuable suggestions or product BUGs regarding the new contract products. The ranking will be subject to the number of suggestion adopted. For participators from the first place to the tenth place, each person will win $ 25,000; For participators from the eleventh place to the thirty place, each person will win $ 1,250; For participators from the thirty-first place to the sixtieth place, each person will win $ 833; For participators from the sixty first place to the hundredth place, each person will win $ 625;
After the event ends, Bitget will officially launch the Quanto Swap Contract at the end of Apr. After new products are launched, Bitget will divide contract products into four sectors, including USDT Margined Contract / Coin Margined Contract / USDT Unified Account / Quanto Swap Contract. Users can choose the contract according to personal trading preference. The biggest highlight of the USDT Unified Account launched this time is that it realizes that users can choose USDT to trade multiple trading pairs at the same time, in which multiple contracts share the equity of one account, and the profit and loss, occupation and risk in the account are shared.
Quanto Swap Contract is a new contract trading mode launched by Bitget. This trading mode can use multiple currency as margin for multiple contract trading pairs, realizing using other coins as margin trading and supporting 125 times of leverage. Compared with other exchanges, the advantages of Bitget Quanto Swap Contract are that users do not need to mortgage BTC or ETH, and they can use held currencies as the margin for position opening. After closing, users will get the original margin coins, and enjoy both trading interests and gains for price rise.
In addition, Quanto Swap Contract is easy to operate and is free from currency exchange during trading, additional currency exchange formality fee and exchange rate loss. When the market is optimistic, users can use the existing currency for opening, avoiding loss of the trading opportunity arising from currency exchange. At last, Bitget has realized the account sharing function. This means that the margin currency can be used to trade multiple trading pairs at the same time, realizing multi-currency hedging in one account as well as profit and risk sharing.
Bitget CEO Sandra says: " Quanto Swap Contract is a sincere work of our team in this year. We have input a lot of energy to develop this product. We hope that users can get better trading experience in Bitget."