KuCoin opens KuMex

KuCoin is a spot trading exchange similar (very similar!) to Binance.

But now they wanna do something else - competitor of BitMex.

KuMEX is a brand new cryptocurrency derivatives trading platform, independently developed by the KuMEX team that offers various leveraged contracts. KuCoin will launch the public beta for KuMEX at 18:00 on July 8, 2019 (UTC+8). The public beta of KuMEX will be used for simulated trading only. Deposits and withdrawals will not be supported in the public beta. The development of a contract trading platform has extremely high requirements, and so the autonomy of technology is an important basis for the stable development of the contract trading platform in the long term.

KuMEX Platform Introduction

KuMEX will firstly open the Bitcoin Perpetual Contract (XBTUSDM) which is quoted in USD and denominated in Bitcoin and offers up to 20 times leverage. The platform currently supports three types of order: limit order, market order and stop order. After the official release of KuMEX, the platform will use 50% of the net revenue from KuMEX for KCS Bonus distribution for KCS holders.

Public Beta Activity

To celebrate the public beta launch of KuMEX, the platform will deposit demo assets of 1 XBT (that is, 1 BTC) into each user's account for simulated trading. The activity will last for 3 weeks after launch, with a total rewards of 10,000 KCS for the first week of the event.

KuMEX是一个全新的数字货币衍生品的交易平台和品牌，提供永续合约交易产品，由KuMEX团队完全自主研发，并计划于2019年7月8日18:00（UTC+8）上线公测。KuMEX公测采用模拟盘交易形式，不开放充值及提现。合约交易平台的开发对技术有着极高的要求，因此，技术自主是合约交易平台稳定、长期发展的重要基础。

产品简介

KuMEX首批开放交易合约为比特币永续合约XBTUSDM，以美元报价、以比特币结算，最大可选择20倍杠杆。目前支持三种委托类型：限价、市价和条件委托。KuMEX实盘上线后，KuMEX会将手续费净收入的50%用于在二级市场中购买KCS用作鼓励金发放给KCS持有用户。

公测活动

为庆祝KuMEX为模拟盘公测，KuMEX将向每位用户账户中存入1 XBT（即1 BTC）测试币供用户交易。活动期间，KuMEX将会根据用户的收益率进行排名。上线后活动将持续3周，第一周活动奖励总金额达10,000 KCS。更多活动信息请于上线当日查看活动公告。

Reminder

If you buy KCS on KuCoin now the new platform will be generating more volume for their paybacks. May be good time to grab some of their native token. Of course check yourself.