KuCoin AMA Series -KuCoin Futures — Full Transcript
Dear KuCoin Users,
Time: 3rd, June, 2020, 20:00–21:00 (UTC+8)
KuCoin hosted an AMA (Ask-Me-Anything) session with KuCoin Futures in the KuCoin English Telegram Group.
Host:
Alicia — Senior Partner of KuCoin
Guest:
Johnny Lyu — Founder and CEO of KuCoin Global
Winar Zhang — Head of KuCoin Futures
Introduction to KuCoin Futures
Firstly launched on July 8, 2019, KuMEX is a cryptocurrency derivatives trading platform
developed and backed up by the KuMEX team that offers various leveraged contracts.
Since its inception, KuMEX has pushed through with ‘Users First and Foremost’ as its core value and grown rapidly together with users, upholding the principle of security and transparency. KuMEX has insisted on taking the tech as its backbone and building a better trader relationship while constantly pushing for the sustainable development of the digital currency trading ecosystem as the ultimate goal.
This platform focuses on leveraged trading and supports leverage up to 100x with a smart algorithm for index calculation. It comes in two formats: Lite and Pro, for new starters and experienced investors respectively. It also offers Level 3 market data feed support. Both USDT-Margined and BTC-Margined Futures, Perpetual, and Delivery Futures are available on the platform.
Q&A from KuCoin
Alicia: Johnny, would you like to introduce the major changes in KuCoin Futures’ brand upgrade this time?
Johnny: The official website of KuCoin Futures has been updated to futures.kucoin.com (https://futures.kucoin.com/), as well as the communities and social media channels. The original domain name kumex.com will still be available for the next 6 months. Users do not need to re-register, and they can continue using their original accounts to access the web, app, and API.
Here, I’d like to share our cool brand video and pages of our brand-new KuCoin Futures: https://land.kucoin.com/brand-upgrade-program.
Alicia: As the key focal point of KuCoin’s development, what effects will this brand upgrade have on KuCoin and KuCoin Futures?
Johnny: The upgrade of the branding is a milestone, which marks the fresh new chapter of positioning and core value for KuCoin Futures.
For KuCoin, the derivatives market would become one of the core trading venues in Crypto field in the future. By the time, the proportion of its trading volume will get dramatically elevated in the traditional financial field.
The next few years are the golden age for the rapid development of the derivatives, and the upgrading of the brand of KuCoin’s futures trading will grant it more resources and chances for the constant polishing and promotion of the products. This will surely open up a broader prospect and explore the vast potential for KuCoin’s futures development.
On the other side, strategically, KuCoin has been working on the layout of its ecosystem construction. As the derivatives market is getting more and more mature, we believe that the value and the global influence of KuCoin on the derivatives market will become more and more evident. Within this golden period, the growing maturity and development of KuCoin Futures will for sure become the most critical driving force to boost the development of the overall KuCoin ecosystem.
Alicia: What makes KuCoin Futures different from other future trading platforms? And what convenience can we get if we trade in KuCoin Futures?
Einar: What KuCoin Futures distinguishes itself from other futures trading platforms are:
1. Globalization
KuCoin is at the top of globalization deployment with 5 million users around the world. About 10% of these users have enabled futures trading. KuCoin Futures provides 24/7 customer services with 14 languages available together with professional translation support. Each year, we will hold more than 40 meetups for global users.
2. Product & User Experience
We valued the interaction experience for users very much and has designed and developed KuCoin Futures Lite and Pro versions for traders of different demands. Users can trade anytime and anywhere via our official website, App, API as well as H5.
3. Leading Technology
KuCoin is a team with technical genes. Since the very beginning of our KuCoin Futures project, the team has selected the most professional engineers and experts with technology as belief and pursuit, and this has kept our technology the pioneer in the industry.
Alicia: Building an exchange and gaining a trust must be really difficult. What difficulties and challenges did you face in the developing side?
Einar: Exchange platform, especially the derivative ones, its entire system is indeed complicated. To make users feeling secured to trade on our platform, we need to firstly win their trust.
We are the only futures trading platform supporting level 3 market data that offers all-round market news pushes to ensure the openness and transparency of data and avoid malicious manipulations.
We have innovated the technologies including dynamic traffic distribution for high-frequency tradings, intelligent index outlier recognition algorithms, etc., which has greatly improved the robustness and accuracy of our system under extreme market fluctuations.
For example, the current index price on KuCoin Futures is calculated based on the latest trade price from six exchanges. We found that to guarantee and improve the effectiveness of the index price we used, KuCoin Futures must be equipped with a good fault tolerance towards the interfaces of those exchanges.
As there may be problems like API modifications, downtime, error notifications, etc., which can result in the error of index price and further lead to serious accidents that have happened before within this field, therefore, we have developed a series of intelligent algorithms in index outlier recognition and they turn out to be very efficient. Up to now, our platform system is working very well thanks to the works we have done.
Alicia: For a newbie into futures trading, what indicators and options do you recommend? How robust are your matching engines and order speed?
Einar: More and more spot traders, even users who haven’t engaged in cryptocurrency are starting futures trading these days. Newbies are always getting confused by the complicated logic and display of trading interface. To avoid such problems, KuCoin Futures has provided the Lite version to help the novices to have a quick and clear understanding and experiencing of the futures trading.
Our KuCoin Futures Lite has covered all the basic components that futures trading needs: Sign up -> Log in -> Deposit -> Trade and real-time market tracking and monitoring. User can access to trade via web or H5.
We will be providing more videos and guides for beginners and organize seminars for futures tradings shortly. You can find out more by joining our KuCoin Futures Telegram: https://t.me/KuCoin_Futures_TG.
Alicia: Some of our users has a suggestion. Chain trade: Opening a position with the potential outcome of active trade. If the active trade closed (stop-loss, limit, etc.) new position opens automatically.
Einar: Interesting suggestion. We haven’t yet provided such function on KuCoin Futures, but actually, it can be realized through API, it indeed is about quantitative trading.
We always think of quantitative trading as a matter of professional institutions or the kind that will require a large sum of money. However, it is not. KuCoin Futures has released the “Quantitative Program for Users” that our professional quantitative trading team is offering diversified quantitative trading strategies and script for users.
Traders only need to set up the parameters according to their needs to start their quantitative trading and this way will be of great help for beginners. Our platform has also organized a series of classes over quantitative strategies and practices. Welcome to join us by contacting newapi@kucoin.plus!
Below is the link of trading strategy: https://github.com/Kucoin-academy/Guide, where general trading strategies and illustrations can be found.
Alicia: I’ve noticed that the USDT-Margined ETH Contract has been launched on June 2. Can you give us more details about this brand-new product? What features can we expect out there?
Einar: Sure! As the first futures not using BTC as the underlying asset on KuCoin Futures, the ETH Perpetual Futures is top-equipped with. The highest leverage of 100x. The lowest maintenance margin rate of 0.5%. Low maintenance margin rate means it is less likely to get liquidated on KuCoin Futures when opening positions under the same margin and price, and this will bring great benefits for users.
With the advent of ETH 2.0, the Ethereum’s active address and price have greatly increased. We hope that the launch of the ETH perpetual futures this time can attract Ethereum followers to our platform.
Alicia: How to keep the motivation to use your futures platform in the long term?
Einar: Apart from the previously mentioned advantages in technology and products, KuCoin Futures has rolled out various programs for users centered on “Traders First”:
1) VIP Program: Users with futures trading volume ≥ 20 BTC in 30 days can join the VIP Experience Program and enjoy 0% maker fee. For users who are already VIPs on KuCoin Futures, they can enjoy a quadruple jump in VIP level. In addition, we also provide one-on-one VIP services and trading strategy support.
2) Affiliate Program: No matter you are a crypto trader, influencer, content writer, community contributor or even a business entity, come to join and become a business partner of KuCoin Futures and turn your personal influence into tangible benefits. We are offering up to 50% commissions for referrals and professional business development support.
Business Partner of KuCoin Futures: https://futures.kucoin.com/agent.
3) Trading Activities: Until June 9, 2020, all futures are 20% off in trading fees, time-limited trading fee discount for ETH futures which is up to 100%, with trial fund reward worth of 3,000 USDT. More info can be found here: https://www.kucoin.com/news/en-celebrate-the-launch-of-eth-contracts.
Alicia: Where do you see KuCoin Futures in 2 years’ time?
Einar: In the next two years, we will focus more on the development of our financial products and new trading engine and keep improving our financial products and technologies. Our roadmap:
2020.07: Launch EOS/XRP and other futures
2020.11: Launch portfolio margin
2021.08: Launch new trading engine
2021.10: Support more portfolios
2022: Launch options
Free-Ask
Q1: How secure is KuCoin Futures?
For KuCoin Futures, the security defense builds a security depth defense system from four levels: organization system, management system, technical system, and execution system. We also have the big data risk control platform, which can detect the abnormal behavior of users in real-time, and perform early warning and interception processing.
Q2: As we know lately bitcoin price dumped hard -$1,000 in just a few minutes, and also in Bitmex almost drop $2,000 which effects liquidation to users, how you guys can ensure that Kucoin Futures is safer than others for users?
BTC price dumped quickly yesterday, BitMEX reached the lowest 8600 and the lowest price of KuCoin Futures was 9254. To ensure the trading experience under extreme market conditions, the update frequency of our market price is 1/s to keep sensitive to price changes. Meanwhile, the overall liquidation is higher, which helps to ensure the prices of extreme markets are reasonable.
Q3: Is KYC verification needed to use the KuCoin Futures? What benefits that KuCoin Futures offers to KYC verified users?
It is not necessary to use KYC in KuCoin Futures, you can start trading after registration. But after completing the KYC, you can get the maximum 100x leverage, and enjoy the higher daily withdrawal limit which can reach up to 100 BTC.
Q4: Currently, Perpetual Swap & Futures still does not support the trader to set advanced orders such as stop limit, trailing stop … like MT4 or BitMEX exchange platform. So in the next time will Kucoin add the same tool to the trader?
Now KuCoin Futures supports many kinds of senior entrusts, which include post-only, hidden, reduce-only, GTC/IOC. And you can use take-profit/stop-loss, Close Position by Limit/Market Price with full or part position when you have positions.
*** If you haven’t got a KuCoin account yet, you can sign uphere! ***
KuCoin AMA Series -KuCoin Futures — Full Transcript was originally published in kucoinexchange on Medium, where people are continuing the conversation by highlighting and responding to this story.
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