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Gate Launches Snowball Perpetual Contract Trading With Up to 20x Leverage

Gate introduces USDT-settled Snowball perpetual contracts with 1–20x leverage, alongside the launch of Gate Perp DEX for decentralized derivatives trading, according to official sources.

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Summary

According to its official announcement, Gate has launched Snowball perpetual contract trading settled in USDT, offering leverage from 1x to 20x. The release also marks the introduction of Gate Perp DEX, a decentralized derivatives exchange designed to facilitate perpetual contract trading. Both products aim to expand trading opportunities in the crypto derivatives sector.

Terms & Concepts
  • Perpetual Contract: A type of futures contract without an expiry date, allowing traders to hold positions indefinitely.
  • USDT Settlement: A trading mechanism where contract profits and losses are settled in Tether (USDT), a stablecoin pegged to the U.S. dollar.
  • Decentralized Exchange (DEX): A peer-to-peer trading platform that facilitates transactions without a central intermediary.