Dear OKX Users,
OKX is pleased to announce the official launch of the SOON/USDT Perpetual Contract on our web platform, mobile app, and API starting May 23, 2025, at 7:30 PM (UTC+8). Below are the key details:
1. Trading Schedule
- SOON/USDT Contract goes live: May 23, 2025, 7:30 PM (UTC+8).
2. Contract Overview
SOON is a high-performance Layer 2 rollup stack leveraging a decoupled Solana Virtual Machine (SVM) to deliver high throughput, enabling scalable, user-centric Web3 applications across multiple blockchains.
| Contract Specification | Details |
|---|---|
| Underlying Asset | SOON/USDT Index |
| Settlement Currency | USDT |
| Face Value | 10 |
| Price Quotation | USD value per 1 SOON |
| Minimum Price Increment | 0.0001 |
| Leverage | 0.01x – 20x |
| Funding Rate Formula | clamp [avg. premium index + clamp (interest rate – avg. premium index, ±0.05%), ±1.5%] Refer to Funding Fee Documentation for details |
| Funding Interval | Every 4 hours |
| Trading Hours | 24/7 |
Note: To mitigate excessive volatility post-launch, the funding rate cap will temporarily be 0.5% until 12:00 AM (UTC+8) on May 24, 2025, after which it reverts to the standard 1.5%. Adjustments may be made if price deviations occur.
👉 Trade SOON Perpetual Contracts with competitive fees
3. Additional Rules
- Order types (e.g., limit orders) and trading rules align with OKX’s standard perpetual contracts. For specifics, review the USDT-Margined Perpetual Contract Guide.
FAQ
Q1: What is SOON’s unique value proposition?
SOON integrates SVM’s efficiency with Layer 2 scalability, optimizing cross-chain interoperability for decentralized applications.
Q2: How does OKX ensure fair funding rates?
The dynamic clamp mechanism balances market premiums and interest rates, with temporary caps during high volatility.
Q3: Can I trade SOON contracts outside the launch window?
Yes! SOON/USDT contracts are available 24/7 post-launch.
👉 Explore OKX’s advanced trading tools today
OKX remains committed to delivering exceptional products and services.
OKX Team
May 23, 2025