Dear OKX Users,
We're pleased to announce that the LAYERUSDT perpetual contract will officially launch on February 11, 2025, at 22:30 (UTC+8) across our web platform, mobile app, and API. Below are the detailed specifications:
1. Trading Schedule
- LAYERUSDT contract trading opens: February 11, 2025, 22:30 (UTC+8)
2. Contract Overview
Solayer (LAYER) is a native Solana-based restaking protocol designed to provide higher network bandwidth for dApps while enhancing Solana's security.
Key Features:
- Full Name: Solayer
- Ticker: LAYER
- Contract Type: USDT-margined perpetual contract
Contract Specifications:
| Contract Parameter | Details |
|---|---|
| Underlying Asset | LAYER/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 1 |
| Price Quotation | USDT price per 1 LAYER |
| Minimum Price Increment | 0.00001 |
| Leverage | 0.01x – 20x |
| Funding Fee Formula | Clamp(MA([(Mark Price – Spot Index Price)/Spot Index Price – Interest]), -1.5%, 1.5%) with Interest = 0. Funding fees are paid/received bi-directionally every 4 hours. |
| Funding Interval | 4 hours |
| Trading Hours | 24/7 |
Note: To mitigate unstable premiums during initial listing, the funding rate cap will temporarily be set at 0.5% until 00:00 (UTC+8) on February 12, 2025, after which it reverts to the standard 1.5% cap. Adjustments may be made if significant price deviations occur.
👉 Trade LAYERUSDT Perpetual Contracts Now
3. Additional Rules
- Order types (limit/market) and other trading rules align with existing perpetual contracts.
- For comprehensive documentation, refer to: USDT-Margined Perpetual Contracts.
OKX remains committed to delivering exceptional products and services.
Best regards,
The OKX Team
February 11, 2025
FAQs
Q1: What is Solayer (LAYER)?
Solayer is a Solana-native restaking protocol that optimizes network bandwidth for decentralized applications while bolstering blockchain security.
Q2: What leverage options are available for LAYERUSDT?
Traders can access 0.01x to 20x leverage on LAYERUSDT perpetual contracts.
Q3: How are funding fees calculated for LAYERUSDT?
Funding fees use a clamped moving average of the premium/discount between the contract's mark price and the spot index, with a maximum rate of 1.5% (initially 0.5% at launch).