- Huobi Futures has added more tokens to its cross-margin swap feature for USDT swaps. These include ZIL, BAND, ONT, SNX, AVAX, and GRT.
- Additionally, Huobi also enabled coin-margined swaps for GRT.
- One week prior, Huobi held a 50,000 USDT giveaway to USDT cross-margin swap participants.
One week after launching its cross-margin support for USDT-margined swaps, Huobi Futures has added more tokens to its service. Specifically, these are Zilliqa (ZIL), Band Protocol (BAND), Ontology (ONT), Synthetix, Avalanche (AVAX), and The Graph (GRT).
& New Coin-margined Swaps:
— Huobi Futures (@HuobiFutures_) December 23, 2020
Aside from this, Huobi has enabled coin-margined swaps for GRT. With these, Huobi derivative traders will have more convenience in maintaining their overall portfolio.
In cross margin mode, users who have USDT-margined swap positions can have account equity and shared margin. Additionally, Huobi also enables LINK/USD, XRP/USD, TRX/USD, and ADA/USD coin-margined swaps.
Cross margining happens when a trader transfers excess margin from his account to another to satisfy the maintenance margin requirements of a specific platform. This practice began in the late 1980s to help traders and firms prevent unnecessary liquidation of positions.
Huobi launched this new service on its app just recently. This comes amid the second year that the service began to open. As part of its launching, Huobi Futures held a 50,000 USDT giveaway which ended on December 24.
Meanwhile, Huobi also announced that its crypto exchange will return to the US through a Nevada Trust license. Furthermore, this will enable Huobi to offer custodial and compliance services in the US as well.