OKX, a major cryptocurrency exchange and Web3 technology firm, has announced several significant updates to its platform. These include the addition of a new ETH/BTC pair to its Dual Investment product and the listing of multiple new assets, broadening the range of opportunities available to its users.
What Is the New ETH/BTC Dual Investment Product?
OKX has introduced an ETH/BTC option within its popular Dual Investment suite. This enables users to subscribe to a product that allows direct crypto-to-crypto investment without needing to convert into stablecoins.
Key advantages of this new offering include:
- Elimination of transaction fees
- Fixed Annual Percentage Rate (APR) during the holding period
- Potential to earn returns in either ETH or BTC, depending on market conditions
Dual Investment is structured as an options-based product where users effectively sell a contract and earn a premium. It is designed for more experienced traders looking to optimize returns by speculating on the price movements of major cryptocurrency pairs.
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New Listings: MOODENG, NEIRO, PYUSD, and EIGEN
In addition to the new Dual Investment pair, OKX has expanded its markets with several new token listings.
MOODENG and NEIRO on Perpetual Futures
Both MOODENG and NEIRO commenced trading on OKX’s perpetual futures market on October 3, 2024. These meme coins draw inspiration from real-world animals:
- MOODENG is inspired by a popular pygmy hippo from Thailand.
- NEIRO is a Shiba Inu-themed token, named after a dog adopted by Atsuko Sato following the passing of Kabosu, the original Dogecoin muse.
PYUSD Spot Trading
PYUSD, the stablecoin issued by PayPal, began trading against USDT on October 3. It is a fully-backed digital asset pegged 1:1 to the U.S. dollar, offering stability within the volatile crypto market.
EIGEN Perpetual Futures
Following its recent spot listing, EIGEN was added to OKX’s perpetual futures market on October 1. Traders can now long or short EIGEN with leverage of up to 50x.
EigenLayer is an Ethereum-based protocol that introduces "restaking," allowing users to stake Ethereum or Liquid Staking Tokens (LSTs) to help secure other applications and earn extra rewards.
👉 Learn more about staking and earning opportunities
Frequently Asked Questions
What is OKX Dual Investment?
Dual Investment is a financial product that lets users earn yields by selling option contracts based on cryptocurrency pairs. Returns are paid in one of the two currencies, depending on market performance at settlement.
Is Dual Investment suitable for beginners?
This product is considered advanced and may be better suited for users familiar with options trading and crypto market volatility. Newcomers are advised to learn about market risks before participating.
What is PYUSD?
PYUSD is a U.S. dollar-backed stablecoin launched by PayPal. It is designed to maintain a steady value equivalent to one USD, making it useful for transfers and as a safe-haven asset during market fluctuations.
Can I trade EIGEN with leverage on OKX?
Yes, OKX offers perpetual futures contracts for EIGEN with leverage of up to 50x. This allows traders to magnify potential gains (or losses) based on price movements.
What are the risks of trading meme coins like MOODENG or NEIRO?
Meme coins are often highly speculative and can experience extreme price volatility. It is important to conduct thorough research and only invest what you can afford to lose.
How does OKX ensure security for its users?
OKX employs industry-standard security measures, including cold storage for funds and regular Proof of Reserves audits, to promote transparency and protect user assets.
OKX continues to enhance its ecosystem with new products and supported assets, providing both retail and institutional users with more tools to engage with digital currencies. The platform remains committed to innovation, security, and user education in the evolving blockchain space.