Gate.io, a leading global digital asset exchange, has announced that it has added over 3 million new users in the first half of 2021. The platform now has more than 6 million users globally, with daily volume consistently ranking among the top in the world. Gate.io’s perpetual contracts trading volume has also crossed $2 billion on several occasions.
Gate.io’s most popular offering, Startup, launched to great success in 2019 as an initial exchange offering (IEO) platform and has grown ever since. In May 2021, projects on Startup raised nearly $1 billion in funding. According to data from CryptoRank, Startup is one of the Top 3 IEO platforms in the world, with CER.live ranking Startup first in terms of safety and security.
Startup projects are rigorously screened with Gate.io ensuring only high quality projects with a proven team and long-term potential are listed on the platform. Startup’s success has led to an increase in both the popularity and value of Gate.io’s GT token as more and more successful projects are listed on Startup. Compared to Startup, Perpetual Contract trading has become just as successful, with daily trading volume surpassing $2 billion on several occasions as the feature grows in popularity and with plans to launch an Experience Fund to teach traders about the platform while covering their fees.
“According to data from Token Insight, we added more than 3 million new users in the first half of 2021, an increase of over 240% compared to the same period in 2020. We now have over 800 cryptocurrencies listed, reporting $374.1 billion in total trading volume in the first half of 2021. Our average daily trading volume is $2.07 billion, and the highest daily trading volume has surpassed $5.4 billion,” Marie Tatibouet, CMO at Gate.io, said in a statement.
In May 2020, Gate.io conducted an industry survey, comparing rates and trading fees between different mainstream cryptocurrency exchanges. The survey revealed that Gate.io’s tiered VIP user structure provided some of the best trading fees in the industry. Introduced in 2019, the tiered VIP user structure provides user benefits in three different ways; discounted trading fees, discounts based on GT token holdings and access to special features and services like Gate.io Startup.
Optimized Fees For Perpetual Contracts
Using insight from the industry survey and user feedback, Gate.io implemented an innovative approach to the maker and taker fees on its perpetual contracts trading platform, where market makers can enjoy discounts and other great rewards by providing liquidity to the platform.
The key to the contract rate optimization is the new structure in which the stepped rate and discount coexists, with users being able to freely choose how their fees will be deducted while executing trades. The current trading fees for perpetual contracts are -0.025% for makers and 0.075% for takers, bringing the lowest transaction fees to investors to enjoy.
There are three main types of contracts in the cryptocurrency market; perpetual contracts, options contracts and futures contracts. Of the three, perpetual contracts remain the most popular and widely used by investors, thanks to the popularization of perpetual contracts trading among mainstream traders. Gate.io continues to drive innovation by offering traders new ways to trade, their perpetual contracts are divided into forward contracts, reverse contracts and dual currency contracts.
Forward and reverse contracts are the most common amongst mainstream crypto exchanges, which is why Gate.io started offering dual currency contracts. Dual currency contracts aren’t tied to a single currency and allows investors to trade in a wider range of currencies, some of which they may be more familiar with. As a result, Gate.io’s perpetual contracts offer investors a more diverse trading environment, allowing them to trade with options while expanding the scope with multi-currency contract trading.
These factors drive the popularity of Gate.io’s perpetual contracts, while offering investors a safe and stable trading environment with products they’re familiar with and allowing them the option to leverage their trades. Unlike other mainstream platforms that have been pushed by regulatory policies to lower their leverage thresholds to a maximum of 20 times, Gate.io perpetual contracts still allow investors to exercise up to 100 times leverage, maximising potential returns.
A Feature-Rich, Comprehensive Trading Platform
Gate.io has thoroughly tested its perpetual contracts offering to ensure investors are offered a feature-rich and comprehensive trading platform. Some of the unique features offered by Gate.io include insurance funds, a market adjusting contracts and two-way position holding mode, all of which ensure a safe and trustworthy trading platform.
Gate.io uses insurance funds to ensure the smooth completion of the liquidation process. When the loss of a position is greater than the margin, the insurance fund will cover the loss that occurred during liquidation. The insurance fund is funded from the surplus funds generated by the forced liquidation of contracts. When liquidated, the order is placed at the bankruptcy price, then the order is placed on the market. If the market price is better than the bankruptcy price, the resulting surplus generated from the sale of the assets go into the insurance fund.
Forced into liquidation, if the balance of the insurance fund is insufficient to cover the liquidation order, the automatic system activates and the user with the highest profit on the opposite position on the contract is selected to lighten the load by filling the remaining order on the liquidation. On Gate.io, there is a rank indicator for users which the automatic system keeps track of.
Perpetual contracts on Gate.io also support a two-way holding mode. Users can hold both long and short positions in a single contract. Instead of the usual ‘long’ and ‘short’ holding modes, Gate.io introduced four types of holding modes; ‘open long,’ ‘flat long,’ ‘open short’ and ‘flat short.’ The two-way, or dual-way, holding mode can only be enabled by the user themselves when they do not have any open contracts.
In addition to all the advantages of Gate.io’s perpetual contracts listed above, the platform also provides a flexible, high-frequency API, stable trading environment, powerful risk controls and other sought after features. Combined with perpetual contracts, these features offer users with a robust trading system on a high-quality, leading exchange. No wonder perpetual contracts have joined Gate.io Startup as one of the platform’s most popular products.
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