Back

Huobi HTX Introduces IRYS/USDT Perpetual Contracts With 20x Leverage

HTX launches IRYS/USDT perpetual contracts with a promotional event offering $10,000 in rewards for eligible traders between November 27 and December 4.

USDT

Summary

On November 27, HTX announced the launch of IRYS/USDT perpetual contracts with up to 20x leverage. From November 27 to December 4, users trading at least $10,000 USDT are eligible to share in a $10,000 prize pool, with additional rewards for new contract traders. This initiative aims to promote the new derivative product while incentivizing trading activity on the platform.

Terms & Concepts
  • Perpetual contracts: A type of derivatives contract without an expiration date, allowing traders to speculate on asset prices with leveraged positions.
  • Leverage: The use of borrowed funds to increase potential returns on investment, with 20x leverage meaning positions can be 20 times larger than the trader’s margin.
  • USDT: Tether, a popular stablecoin pegged to the U.S. dollar, commonly used as a trading pair in cryptocurrency markets.