Gate Launches 'Snowball' Perpetual Futures Trading Settled in USDT

According to Gate’s official announcement, the exchange launched the Snowball perpetual contract with 1–20x leverage and introduced the Gate Perp DEX platform for decentralized derivatives trading.

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Summary

According to an official announcement, Gate has launched its Snowball perpetual contract trading product, settled in USDT, with leverage options from 1x to 20x. The release also marks the debut of the Gate Perp DEX, a decentralized exchange platform for perpetual contracts, enhancing Gate’s derivatives offerings.

Terms & Concepts
  • Perpetual Contract: A type of derivative in cryptocurrency markets with no expiration date, allowing traders to hold positions indefinitely while using leverage.
  • USDT (Tether): A U.S. dollar-pegged stablecoin commonly used as a settlement currency in cryptocurrency trading.
  • DEX (Decentralized Exchange): A blockchain-based platform that allows peer-to-peer trading of digital assets without centralized intermediaries.