Dear Nami community,
In order to satisfy the trading needs of users and adapt to recent market developments, Nami Exchange will make adjustments to adjust trading rules and apply new funding mechanism from 2023-10-12 08:00 (UTC).
Open positions will not change to new trading volume limit and maximum leverage, but only apply the new funding mechanism. Users need to carefully monitor their positions to avoid unnecessary risks.
1.Update Futures Trading Rules
From 2023-10-12 08:00 (UTC), Nami Exchange adjusted trading rules, including increasing Maximum Trading Volume and Maximum Leverage for multiple trading contracts.
Notable adjustments: Trading contracts with ETH increased maximum trading volume with limit orders to 5 billion VNDC, 5 billion VNST and 250,000 USDT; trading contracts with BCH, ETC, LINK, XRP, ADA, DOGE, LTC increase maximum leverage to x75, increase maximum trading volume to 2 billion VNDC, 2 billion VNST and 100,000 USDT; trading contracts with TRX, ATOM, VET, NEO, MKR, AVAX, MATIC, AXS, SAND, 1000SHIB, MASK, DYDX, GALA, APE, OP, UNI, WLD, FTM, MANA, CFX, ARB, SUI, SOL , APT, LDO increased maximum leverage to x50, increased maximum trading volume from 1 billion VNDC, 1 billion VNST, 50,000 USDT to 2 billion VNDC, 2 billion VNST, 100,000 USDT depending on each contract...
Users can follow the detailed Trading Rules are updated in the Information section for each trading contract or follow trading rules of all contracts here.
At the same time, from 2023-10-12 08:00 (UTC), Nami Exchange will adjust the funding interval from 8 hours to 4 hours for Futures trading contracts of assets IMX, LPT, API3, HIFI, NMR, TRB, BLZ, DODO, STMX, CYBER, YGG, UNFI, FLM, PERP, AMB.
Funding Time with each interval:
2.New funding mechanism
In order to better adapt to market developments and balance actual trading status on Nami Exchange, from 2023-10-12 08:00 (UTC), Nami Exchange will apply a flexible funding mechanism and funding rate cap for all Futures trading contracts.
Flexible funding rate = |Basic funding rate| x Ratio of trading volume from the side paying / trading volume from the side receiving
Illustration of the interface displaying information about trading volume and the 2-side Long / Short funding rate with the Long rate displayed in blue and the Short rate displayed in red:
1.The trading contract X/USDT has basic funding rate of 2 %, actual Futures Trading Volumes cross the whole Nami Exchange at the funding time are 1,000,000 USDT of Long and 2,000,000 USDT of Short (The ratio of Paying / Receiving = 1/2)
2.The trading contract X/USDT has basic funding rate of 2 %, actual Futures Trading Volumes cross the whole Nami Exchange at the funding time are 2,000,000 USDT of Long and 1,000,000 USDT of Short (The ratio of Paying / Receiving = 2)
Note: Nami reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
Risk Warning: Futures trading carries substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movements. The information here should not be regarded as financial or investment advice from Nami. All trading strategies are used at your discretion and your own risk. Nami will not be liable to you for any loss that might arise from your use of Futures.
About Nami Exchange
Nami Exchange is a trading platform belonging to the Nami Foundation ecosystem that enables dynamic trading and effective investing through its Spot and Futures trading systems, which offer a wide selection of nearly 700 trading pairs, support leverage up to x125, and 24/7 live support in Vietnamese & English.
Download Nami Exchange app here.