Apr 10, 2024

New Listing: Index perps (GM30-PERP, L2-PERP, MEMES-PERP) on WOO X - 1,000 USDT Learn and Earn!

Campaign Details

The campaign duration has been specified as:

Campaign start date: April 10, 9:00 (UTC)
Campaign end date: April 16, 23:59 (UTC)
Reward distribution date: 14 working days post Activity End Date

Note: WOO X reserves the right to change the above-mentioned timeline at its discretion, in particular to end the event earlier or later.

Learn & Earn - 1,000 USDT to be won!

GM30-PERP, L2-PERP and MEMES-PERP are now available to trade on WOO X!

In celebration of the groundbreaking listing, we’re giving away 1,000 USDT to WOO X users. 50 randomly selected users will win 20 USDT each.

To enter the giveaway, all you need to do is read this short article below to learn more about index perps on WOO X, and then complete the multiple-choice quiz here.

Join now!

Campaign Rules

To be eligible to win, users must complete the quiz on Google Forms and get all the answers correct.
50 randomly selected users will win 20 USDT each, to be distributed on WOO X.
This campaign is open to both new and existing WOO X users.
All users/participants of the campaign must be registered and successfully KYC’ed to at least Level 1 on WOO X before the end of the campaign duration.
The duration of the campaign has been set from April 10, 9:00 (UTC) to April 16, 23:59 (UTC). WOO X reserves the right to change the above-mentioned timeline at its own discretion, in particular to end the event earlier.
All rewards will be distributed within 14 working days after the campaign has ended. If the rewards have not been credited after 14 working days, please contact our 24/7 online Customer Support or email support@woo.network for assistance. In the event of any delay in the rewards distribution, the user may not demand any interest for the duration of the delay.
Each user is responsible for their own tax settlements resulting from receiving the reward.

What is an Index Perp?

Index perpetual contracts, or index perps, are derivatives that allow traders to speculate on the overall performance of a basket of assets, rather than individual tokens.

Much like what is widely available in TradFi, index-based trading will enable a sophisticated means for traders to gain leveraged exposure to a broad market segment or to hedge against risks.

Index Perps has landed on WOO X

WOO X has strategically partnered with GMCI and Wintermute to launch its own suite of crypto index perps. This launch marks a significant milestone as WOO X becomes the first centralized exchange to launch L2 and Memes indices, along with GMCI’s flagship index, the GMCI 30.

With this partnership, traders on WOO X can expect these benefits:

Diversified Exposure: Traders can gain exposure to a wide range of assets through a single trade.
Enhanced Liquidity: Backed by Wintermute, one of the leading market makers, ensuring deep liquidity and optimal trade execution.
Strategic Collaboration: The partnership with GMCI ensures well-curated and balanced indexes.

Understanding the Index Provider - GMCI

GMCI operates as an index provider that curates and maintains Market Indices on digital assets (the "Indices").

The indices structured to track the performance of the top digital assets based on their circulating market capitalization. The key objectives include:

Representation: to accurately represent the overall market, providing a comprehensive snapshot of asset performance.
Benchmarking: to offer a standardized yardstick for evaluating investment portfolios and strategies.
Diversification: to enable investors to create well-balanced portfolios with exposure to a broad spectrum of assets.

Considerations for Index Weighting

GMCI initiates allocation weight assignments based on the blended market capitalization of each digital asset reflected on the rebalancing reference date.

In consideration of asset eligibility, GMCI takes the top digital assets in the asset universe based on their blended circulating market capitalization.

Subsequently, a weight control mechanism is introduced, which limits the allocation weight of the largest constituent to 25%.

The excess weight is distributed proportionately among the remaining index constituents.

Rebalancing Index Weighting

GMCI adheres to a monthly rebalancing schedule, commencing on the first business day of each month.

Rebalancing assets is important as it ensures the index accurately reflects current market conditions by periodically adjusting the weightage of each asset.

In exceptional circumstances such as evidence of fraudulent activity or other significant concerns related to the asset's integrity, assets may be delisted from the indices.

Getting started with Index Perps on WOO X

To get started with trading index perps on WOO X, head over to these links below:

GM30-PERP: https://x.woo.org/en/trade/GM30_PERP

MEMES-PERP: https://x.woo.org/en/trade/MEMES_PERP

L2-PERP: https://x.woo.org/en/trade/L2_PERP

Terms and Conditions

All users and participants of the campaign accept that:

He/She abides by the WOO X Campaign Terms and Conditions.

The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.

The content of this document has been translated into different languages and shared throughout different platforms. In case of any discrepancy or inconsistency between different posts caused by mistranslations, the English version on WOOFi’s official website shall prevail.