OKX broadens its offerings by launching AI-focused perpetual futures with fee adjustments to manage volatility and reduce risks.
By Temitope Olatunji
Edited by Julia Sakovich
Updated
3 mins read
OKX is introducing USDT-margined perpetual futures for two new AI-focused cryptocurrencies, GRIFFAIN and ZEREBRO. The listing will be today, December 27, at 07:00 a.m. UTC for GRIFFAIN and 07:15 a.m. UTC for ZEREBRO. The exchange informed its users that the updates will cover both the web and app interfaces, as well as the AP.
The exchange explained GRIFFAIN as an AI agent platform where users can create personalized AI agents to turn their ideas into actions by interacting with other AI agents in its network. Traders can use up to 50x leverage on GRIFFAIN perpetual futures, starting from 0.01x, which will be settled in Tether. OKX stated:
“Griffain is an AI agent platform that transforms user intentions into actionable outcomes by engaging with AI agents. Users have the ability to create personalised AI agents and leverage Griffain’s network.”
ZEREBRO, on the other hand, is designed to produce, distribute, and analyze content across decentralized and social media platforms. Its autonomous system offers innovative content creation and management tools in the digital age. Like GRIFFAIN, users can use up to 50x leverage on ZEREBRO perpetual futures, settled in USDT.
Both cryptocurrencies feature contracts with a face value of 10 units and pricing increments of 0.0001 USDT. OKX is cautious of possible high fees from price swings; therefore, to reduce fees, it will limit the funding fee for both futures to 0.03% until December 27, 4:00 p.m. UTC. After that, it will return to the regular rate of 1.5%, with the fee charged at 8:00 p.m. UTC the same day. The exchange wrote:
“To avoid unreasonable fees arising from significant premium fluctuations of newly launched futures, the upper limit of the funding fee before 4:00 pm UTC on December 27, 2024 is 0.03%. After 4:00 pm UTC on December 27, 2024, the upper limit of the predicted funding fee will be adjusted back to the regular rate of 1.5%. (The funding fee for this period will be charged at 8:00 pm UTC on December 27, 2024.)”
The price limits for ZEREBRO and GRIFFAIN USDT perpetual futures follow the same rules as other currencies. OKX advised users to read its perpetual futures trading guides to gain more insight into how it works. Moreover, the exchange is adding these futures to meet the growing demand for AI-themed crypto assets.
OKX has continued to expand its growth, with the number of its users further increasing. In a short video released on X, it revealed that more than 2 million users have joined its community. It also recently launched OKSOL, a liquid staking token for Solana, providing users with the opportunity to stake while maintaining liquidity. The exchange wrote that staking SOL will give users OKSOL at a 1:1 ratio, allowing them to earn rewards while keeping their funds flexible. OKSOL can be used as collateral, traded, or applied in DeFi strategies, with the underlying SOL staying securely staked.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
