Crypto Exchange OKX to Launch Perpetual Futures for Popular Memecoin

OKX, a leading cryptocurrency exchange, has announced the addition of USDT-margined perpetual futures for the memecoin DOG, which will be available for trading starting November 19, 2024, at 09:00 (UTC) on its web, mobile, and API platforms.

The trading pair DOG/USDT will allow users to engage in perpetual futures contracts with the memecoin, offering more flexibility and opportunities in the market.

DOG is a memecoin that operates on the Bitcoin blockchain using the Runes standard, making it a part of the growing trend of community-driven and decentralized projects.

True to its open-source nature, DOG aligns with the decentralized ideals originally laid out by Bitcoin’s creator, Satoshi Nakamoto. In a unique move earlier this year, DOG’s entire token supply was distributed for free as part of a volunteer-run initiative, showcasing its commitment to decentralization and accessibility.

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The platform has also specified that the funding fee for the DOG/USDT futures contracts will be capped at 0.03%, providing a safeguard against premium volatility in the market.

This move highlights OKX’s intention to provide a stable and efficient trading environment for users involved with this memecoin, which continues to gain traction in the crypto space.

Alexander Zdravkov