LONDON, Sept. 27, 2020 /PRNewswire/ -- To celebrate the seventh anniversary of Huobi, Huobi Futures now introduces "Huobi Stablecoin Yield Farming: Trade USDT/USD Swaps and Gain 100% Transaction Fee Return". All transaction fees that the users contributed through trading USDT/USD swaps will be returned to the Makers of USDT/USD swaps in 100%.
This campaign will start at 16:00 UTC on September 25 and will end at 15:59:59 UTC on October 2nd.
Ciara Sun, Vice President of Huobi Global Markets said that "There are multi-layer perspectives about why Huobi launches this campaign at this time. Stablecoin mining is a great jumpstart for stablecoin holders to gain some returns with manageable risks.
1x to 1000x USDT/USD swaps is a brand new market that is not yet available on any other exchange, and the 1x to 1000x leverages are pioneering moves. We hope that this new market will bring in new assets and users, and nurture the seed users for its upcoming USDT-margined perpetual swaps.
With the same leverages, Huobi also launches USDT/USD futures with expirations weekly, bi-weekly, quarterly and bi-quarterly a few hours behind its USDT/USD swaps, though the trading volume of USDT/USD futures will not be counted in the campaign this time.
The 1x to 1000x leverage will provide great arbitrage space for speculative traders who seek opportunities among USDT/USD price fluctuations.
USDT longs and shorts can avoid the risks of price fluctuation by forward and reverse hedging.
The USDT/USD trading pair will be available for all users including market makers, VIPs and regular users. Huobi provides 0 fees for makers and only 0.04% fee for taker!"
Users who trade USDT/USD swaps as a Maker during the campaign period will be automatically considered as participants of this yield mining campaign. The reward fees of a user will be available for collection due to his/her USDT/USD trading volume proportion of the overall platform trading volume.
The more the Maker trades, the more mining reward the user will receive. (Note: A Maker transaction refers to placing a limit order which does not instantly be filled with the open orders in the order book; therefore, the order will be placed in the order book and wait to be filled. A Maker order can only be finalized after a fully complete transaction.)
Current-day all transaction fees collected by the platform from USDT/USD swaps trading
Note: All users (including Liquidity Providers, VIP clients and common users) shall enjoy the same fee rate when trading USDT/USD swaps on Huobi Futures, which is 0% for maker and 0.04% for taker.
1. The recording time of daily mining is from 16:00:00 to 15:59:59 (UTC).
2. Sub-accounts shall not participate in this event as independent accounts; the trading volume of a sub-account can be counted into its main account; Huobi APP will not display mining rewards of sub-accounts on the activity page.
3. Users can view their mining awards at Huobi APP: open Huobi APP, click [Mining] and enter into the activity page to check mining awards. Download APP: https://m.huobi.fm/zh-en/download.
4. Daily mining awards will be distributed in USDT and the reward will be calculated to 4 decimal places. The exceedances will be truncated and the reward below 0.01 USDT will not be issued.
5. Daily mining awards will be announced and delivered to users' perpetual swaps account in the following day. Please kindly note the email or SMS notification.
6. The expenses of this event are all derived from the transaction fees of USDT/USD swaps, therefore this trading pair is not included in Huobi Invitation Program.
7. The final interpretation right of this event belongs to Huobi Futures.
SOURCE Huobi Futures