To mark the seventh anniversary of Huobi, Huobi Futures has launched a new promotion for Huobi stablecoin yield farming for USDT/USD swaps. The promotion will see all transaction fees that the users contributed through trading USDT/USD swaps returned to the Makers of USDT/USD swap.
The campaign started at 16:00 UTC on 25 September and will end at 15:59:59 UTC on 2 October.
Ciara Sun, Vice President of Huobi Global Markets says: “There are multi-layer perspectives about why Huobi launches this campaign at this time. Stablecoin mining is a great jumpstart for stablecoin holders to gain some returns with manageable risks.
“1x to 1000x USDT/USD swaps is a brand new market that is not yet available on any other exchange, and the 1x to 1000x leverages are pioneering moves. We hope that this new market will bring in new assets and users, and nurture the seed users for its upcoming USDT-margined perpetual swaps.
“With the same leverages, Huobi also launches USDT/USD futures with expirations weekly, bi-weekly, quarterly and bi-quarterly a few hours behind its USDT/USD swaps, though the trading volume of USDT/USD futures will not be counted in the campaign this time.
“The 1x to 1000x leverage will provide great arbitrage space for speculative traders who seek opportunities among USDT/USD price fluctuations.
“USDT longs and shorts can avoid the risks of price fluctuation by forward and reverse hedging.
“The USDT/USD trading pair will be available for all users including market makers, VIPs and regular users. Huobi provides 0 fees for makers and only 0.04 per cent fee for taker!”
Users who trade USDT/USD swaps as a Maker during the campaign period will be automatically considered as participants of this yield mining campaign. The reward fees of a user will be available for collection due to his/her USDT/USD trading volume proportion of the overall platform trading volume.
The more the Maker trades, the more mining reward the user will receive. A Maker transaction refers to placing a limit order which does not instantly get filled with the open orders in the order book; therefore, the order will be placed in the order book and wait to be filled. A Maker order can only be finalised after a fully complete transaction.