Development Update October 2020
Our development update communicates what we’re working on at Interdax and an indication of when these new features will become available.
October Updates
In October, the major developments were:
USDT Perpetuals Released
Three perpetual contracts margined and settled in Tether USD (USDT) were released in October for Chainlink’s LINK token, Uniswap’s UNI token, and Avalanche’s AVAX token.
The contract specs for USDT perpetuals can be found here.
ETH-PERP Contract Specs Updated
The maintenance margin for ETH-PERP was reduced from 2% to 1% on October 12, permitting leverage of up to 100x (up from the previous limit of 50x).
Trade ETH-PERP with continuous settlement and up to 100x here.
Improved Liquidity
Our new Market Maker entered the production phase, and liquidity has been expanded across all instruments. As a result, the spreads are much thinner for all trading instruments.
UI Improvements
We made several UI improvements to the platform in October, including:
i) An upgraded mobile view of the web application, allowing customers to perform all trading operations from their mobile devices. We will continue to improve the mobile version of the web application. A native app will be developed at some point in the future.
ii) The 24-hour traded value is shown in terms of the underlying asset for each instrument when hovering over the 24-hour volume. Also, the funding rate is displayed as an 8-hour average (the raw funding rate will be re-added, as detailed in the Upcoming in November section).
iii) We’ve introduced a confirmation screen that appears when transferring funds out of a sub-account (shown below), since moving funds out of a sub-account will alter the liquidation price if you have an open order or position.
Upcoming in November
Leaving the Beta Stage
On November 8, Interdax will officially go out of the beta stage.
Spot trading will go live on November 8, allowing traders to exchange between BTC/ETH and USDT. We will also add the option for stop triggers to be based on the last-traded price before releasing spot instruments.
Additional USDT Perpetuals
After we have implemented spot trading, we will add more USDT perpetuals starting with Filecoin (FIL).
Follow Interdax on Twitter for announcements of new trading instruments.
UI Improvements
We are working to introduce a margin widget as an intuitive way to display the riskiness of positions, the breakdown of how your balance is being used, and to demonstrate “what if” scenarios (such as what would happen if an order is placed, if an order is filled, if part of the balance is transferred, and so on).
We are also going to replace Google ReCaptchas to streamline the login process.
Finally, as requested by our customers, the live funding rate will be re-added to the interface and shown alongside the 8-hour average.
If you have any comments or questions, please contact us via one of the methods shown below.
