- Understanding KKcoin
1、What kind of company is KKcoin?
Ans: KKcoin is a cryptocurrency trading platform registered in Singapore, the global financial center of the world. We provide spot and derivatives trading of cryptocurrencies such as Bitcoin, Litecoin, Ethereum and other high quality projects, aspiring to be a world-class exchange for our global clientele.
2、What are key differentiators of KKcoin?
Ans: a) Superior management team; b) Multi-layer security infrastructure; c) Sophisticated liquidity mechanism; d) Innovative trading model
3、What are the core features of KKcoin?
Ans: a) Utilizes a multi-layer, multi-cluster architecture that ensures system security and stability; b) Utilizes high performance matching technologies such as GSLB, distributed computing clusters, distributed storage amongst others; c) Rich resources and capable partners to ensure high platform liquidity; d) Multi-platform support including Web and Mobile Apps; e) Dual language support for English and Chinese; f) Support for mainstream cryptocurrencies including BTC, ETH etc.
- Introduction to Perpetual Contracts
1、What are Perpetual Contracts?
Ans: Perpetual Contract is an original cryptocurrency derivative which references spot index prices. It allows for margin trading (i.e. leverage) where traders are able to close their position on a same-day basis or choose to extend till the next day (incurring an extension fee). A fee-based mechanism is used to reach an equilibrium between supply and demand.
2、What are the characterisitcs of Perpetual Contracts?
Ans: a) 10x-20x leverage options; b) T+0 settlement, buy/sell anytime; c) Long/short transactions available; d) 24/7 continuous trading, 365 days a year (except daily profit/loss calculation at 6:00-6:30 Singapore Time where trading will be temporarily suspended)
3、What are the types of Perpetual Contracts?
Ans: There are 6 types of Perpetual Contracts including BTC01, BTC1, BTC10, ETH001, ETH1, ETH10 with BTC and ETH as underlying assets. Reference currency for all types are USDT.
- Trading rules
1）What is the minimum tradable amount for BTC01? 0.1 BTC/Lot
2）What is the margin requirements for BTC01? 10%
3）What is the total position limit of BTC01? 1000 Lots
4）What is the minimum tradable amount for BTC1? 1 BTC/Lot
5）What is the margin requirements for BTC1? 10%
6）What is the total position limit of BTC1? 100 Lots
7）What is the minimum tradable amount for BTC10? 10 BTC/Lot
8）What is the margin requirements for BTC10? 5%
9）What is the total position limit of BTC10? 20 Lots
1）What is the minimum tradable amount for ETH001? 0.01 ETH/Lot
2）What is the margin requirements for ETH001? 10%
3）What is the total position limit of ETH001? 20000 Lots
4）What is the minimum tradable amount for ETH1? 1 ETH/Lot
5）What is the margin requirements for ETH1? 10%
6）What is the total position limit of ETH1? 2000 Lots
7）What is the minimum tradable amount for ETH10? 10 ETH/Lot
8）What is the margin requirements for ETH10? 5%
9）What is the total position limit of ETH10? 400 Lots
3、What are margins for Perpetual Contracts?
Ans: In a Perpetual Contract transaction, a small amount of funds will be posted as a financial guarantee in proportion to the total transaction value. This small amount of funds is known as the margin.
4、What are the characteristics of cross-margin mechanism used for Perpetual Contracts?
Ans: a) When a position is opened, Used Margin will not change; b) Available Margin will change in accordance to intraday profit/loss of the position. Profit due to such fluctuations can be used to open a new position, but cannot be withdrawn; c) Risk triggers are used to manage an account’s risk rating. When the account’s risk rating hits the forced liquidation trigger, all open positions will be liquidated.
5、What is Account Equity?
Ans: Account Equity = Account Balance + Realized Profit/Loss + Intraday Profit/Loss
6、What is Account Balance?
Ans: Account Balance = Previous day’s balance+Transfers in–Transfers out–Transaction fees
7、What is Available Margin?
Ans: Available Margin = Account Equity – Used Margin – Locked Margin
8、What is Used Margin?
Ans: Used Margin = Execution price*Executed Lots*Lot size*Margin rate%
9、What is Allowable Lot size order?
Ans: Allowable Lot size order = Available Margin / [(Margin Rate% + Transaction Fee%) * Order price * Lot size]
10、What is Locked Asset?
Ans: Locked Asset = Locked Margin + Locked Transaction fees
11、What is Locked Margin?
Ans: Locked Margin = Order price*pending Lots*Lot size*Margin Rate%
12、What is Locked Transaction Fees?
Ans: Locked Transaction Fees = Order price*pending Lots*Lot size*Transaction Fee%
13、How does Perpetual Contracts measure account risk?
Ans: KKcoin’s Perpetual Contracts utilizes a cross-margin mechanism，where risk triggers are used to manage an account’s risk. Account risk rating = Account Equity / Used Margin*100%
14、How does KKcoin protect traders when account is at risk?
Ans: a) Warning triggers when Account risk rating ≦ 100%. At this point, investors are advised to add margin to their Perpetual Contracts account or reduce position until their risk rating increases to >100%. (Note: KKcoin will send reminders via email/account notification at risk rating levels ≦100% and ≦70%. Investors should be aware of the risks and take appropriate actions at all times. These notices will be sent on a best effort basis).
b) Forced liquidation will occur when Account risk rating ≦ 50%.
15、What is the position limit for Perpetual Contracts?
Ans: In order to reduce our customer’s risk due to margin trading, KKcoin’s Perpetual Contract enforces a position limit of ≦50%. Once the position limit exceeds 50%, no new position can be initiated.
Position Limit = (Used Margin + Locked Margin) / Account Equity*100%
16、What are Limit Order and Stop Loss prices?
Ans: Limit order and Stop Loss refers to a certain pre-set price whereby an open position is automatically closed when it reaches that level, locking in profits (Limit order) or limiting losses (Stop loss) on that position without the need for constant surveillance.
17、What are the trading rules of Limit Order and Stop Loss prices?
Ans: When the market fluctuates and reaches the pre-set price level, the system will place respective orders at that price. Final transacted price will however still be based on the market. If orders fail to be filled, manual intervention will be required to close positions.
18、What are the setting rules of Limit Order and Stop Loss prices?
a) Limit order/Stop Loss prices can be set directly at the order placement interface;
b) These prices can be modified anytime at the open position interface;
c) When a similar order type is placed (or sold) at a later time, and Limit order/Stop Loss prices are set at the order interface, then Limit order/Stop Loss prices of the entire position will be the price set at the time of placing the order; If Limit order/Stop Loss prices are not set, it will be reset and customers will have to manually set it again;
d) Limit order/Stop Loss prices are not subject to the price limit mechanism;
e) Limit order/Stop Loss can be set together or separately.
19、How is profit/loss calculation done for Perpetual Contracts?
Ans: KKcoin Perpetual Contracts uses daily net settlement to calculate profit/loss of positions, executed during 6:00-6:30 Singapore time. All intraday profit/loss will be realized at that settlement price. Opening price of the next day will be the previous day’s settlement price, whereby subsequent intraday profit/loss will be based. The settlement price is the weighted average of transactions price and volume corresponding to the Spot Index price during the last hour of trading day.
20、What are the key advantages of Perpetual Contracts?
(1) An original cryptocurrency derivative pioneered by KKcoin’s team of experts;
(2) Trading mechanism:
- 10x-20x trading leverage, amplifying potential returns;
- T+0 settlement，buy/sell anytime;
- Two-way trading, long/short transactions available;
- Unrestricted time constraints, contracts can be held for extended periods;
- 24/7 continuous trading, 365 days a year (except daily profit/loss calculation at 6:00-6:30 Singapore Time where trading will be temporarily suspended)
(3) Different types of contracts can be traded using USDT as a single benchmark, where price fluctuations are clearly observed;
(4) Derivatives based on the world’s most liquid and popular cryptocurrencies, where prices are transparent and resistant to malicious attacks.
- Activity Details
1、What is the name of our promotional activity?
Ans: KKcoin Perpetual Contracts Beta test: Thousands of USDT to be won!
2、How are customers rewarded during this period?
Ans: Rewards are available for Beta test trading of our Perpetual Contracts and additional rewards for providing relevant feedback!
3、What is the Beta test promotion activitiy period?
Ans: 18 August 2018 10:00am till 18 September 2018 6:00am
4、How do I receive KK tokens if I answered Q&A correctly?
Ans: Users have to register an account with KKcoin prior to answering the Q&A. If you are the first person to provide the correct answer, a KKcoin admin will PM you for your registered user ID and Email. 500KK tokens will be sent to your KKcoin account the next working day.
5、How long will it take to receive the 500KK token rewards for answering Q&A?
Ans: 500KK tokens will be sent to your KKcoin account by 19:00pm the next working day.
- KK tokens
1、How can customers get more KK tokens during this promotional period?
Ans: a) KK tokens reward will be avaliable for opening a Perpetual Contracts account; b) KK tokens reward will be available for providing relevant feedback during Beta test period; c) Users can win KK tokens by being the first to provide correct answers to Q&A; d) Other promotional acitivities in the future
- Future promotions
1、What are the future promotional acitivties by KKcoin?
(1) KKcoin Perpetual Contracts Beta test to win USDT
(2) Zero transaction fees promotion
(3) Referral programs
(4) Others – stay tuned!