OKX to Launch VIRTUAL and SUNDOG Perpetual Futures Contracts

Cryptocurrency exchange OKX is set to introduce perpetual futures contracts for two new tokens: VIRTUAL, the native token of Virtuals Protocol, and SUNDOG, a meme coin on the Tron blockchain. The contracts will be listed as USDT-margined perpetual futures and will become available for trading on December 11.

According to the announcement, VIRTUAL/USDT perpetual futures will start trading at 10:00 UTC on December 11, while SUNDOG/USDT perpetual futures will begin trading at 10:15 UTC on the same day. Both contracts will offer a minimum leverage of 0.01x and a maximum leverage of up to 50x.

The funding fee for both perpetual contracts has been set at +1.50% and -1.50% with zero interest. The funding fee calculation frequency is every four hours, and the tick size is set to 0.0001 for both contracts.

To avoid unreasonable fee increases due to fluctuations in the newly launched futures, OKX has placed an upper limit of 0.03% for the funding fee until 16:00 UTC on December 11. This limit will be lifted to 1.5% after 16:00 UTC.

As of writing, SUNDOG has seen little movement, with only a nearly 2% increase according to data from pinetbox. The token is currently trading at $0.15 and has a market cap of over $144 million and a 24-hour trading volume of around $120 million.

VIRTUAL, on the other hand, has seen a more significant increase, rising by nearly 4% according to data from CoinGecko. The token is currently trading at $1.68 and has a market cap of over $1.6 billion and a 24-hour trading volume of $267 million.

SUNDOG is the sixth largest token on the Tron ecosystem and the largest dog-themed meme coin on the platform. Initially launched as a meme coin, it has grown to offer various features and is currently listed on several exchanges including Bybit, Bitget, and Gate.io.

VIRTUAL is the native token of Virtuals Protocol, a layer for autonomous AI agents that enables users to create their own AI agents by launching a new token or an existing one.

With the launch of these perpetual futures contracts, OKX aims to provide traders with more options for managing their cryptocurrency investments and capitalizing on market fluctuations.