Bitget Enhances USDC-M Perpetual Futures with Pricing Denomination Update

Streamlining Operations for a Seamless Trading Experience

Victoria, Seychelles, January 9th, 2025 – Chainwire – Bitget, a leading cryptocurrency exchange and Web3 company, has announced a significant update to its USDC-M perpetual futures product. Effective January 15th, 2025 (UTC+8), the calculation of the index price for these futures will transition from USD to USDC, providing a more consistent trading experience for users.

Key Adjustments to Enhance Usability

The update will impact multiple pricing elements, including the index price, mark price, and order book prices, aligning all calculations directly with USDC. This change reflects Bitget’s commitment to streamlining operations and enhancing the usability of its USDC-M perpetual futures product. Key adjustments include:

* All pricing metrics, including entry price, liquidation price, and unrealized profit and loss (PnL), will be denominated in USDC.
* Initial and maintenance margins will be directly calculated in USDC, reducing complexities for traders.

Impact on Trading and Settlement Processes

The transition to USDC denomination will standardize calculations, reducing complexities for traders and aligning all pricing-related processes under a single denomination. Key implications for trading and settlement processes include:

* Pricing and PnL calculations: Unrealized PnL will be recalculated based on the new mark price, ensuring consistency across all trading metrics.
* Margins: Both initial and maintenance margins will continue to be calculated in USDC, providing a smoother margin management process.
* Settlement process: All settlement mechanisms will remain unchanged, except for adjustments to unrealized PnL calculations.

Ensuring a Seamless Experience for Users

Bitget has implemented these changes with minimal disruption to trading activities, ensuring continuity and a seamless experience for users. To fully leverage the updated features, users are advised to update their Bitget app to the latest version (2.49.0 for both iOS and Android).

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company, serving over 45 million users in 150+ countries and regions. The company is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to cryptocurrency prices.

Conclusion

Bitget’s update to its USDC-M perpetual futures product is a significant step towards streamlining operations and enhancing the usability of its trading platform. By transitioning to USDC denomination, Bitget aims to provide a more consistent trading experience for its users, reducing complexities and aligning all pricing-related processes under a single denomination.

Source: Crypto-news.net

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