The people’s exchange, Kucoin, has recently revealed that it is launching a platform offering cryptocurrency derivatives trading dubbed as KuMEX.
The trading venue of the exchange is now live in public beta and is currently offering a bitcoin perpetual contract (XBTUSDM) that is quoted in U.S. dollars and offers up to 20x leverage.
In an effort the make the crypto exchange more fair and rigorous the derivatives market uses a bitcoin spot index providing a volume-weighted average of the U.S. dollar price of bicoin across six exchange such as Coinbase Pro, Bitstamp, Kraken, Gemini, Liquid and Bittrex.
To make the platform more secure it was revealed that it will have an insurance fund and balances will be disclosed daily to make the platform fully transparent.
According to Michael Gan, KuCoin CEO, KuMEX is a derivative trading platform independently developed by their in-house developers with the main aim of providing a platform that they can trust and trade freely without worrying about the loss caused by any form of manipulation.
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