Coinbase International is joining other centralized exchanges like Binance, Bybit, Bitget, and OKX in launching a platform for emerging cryptocurrency projects.
On June 17, Coinbase announced that they will be offering pre-launch markets where users can trade perpetual futures contracts for tokens that have not yet launched.
Once the token is launched on applicable spot exchanges, the contract will convert to a standard perpetual contract. This feature will be available to institutional investors through Coinbase International and retail traders through Coinbase Advanced.
The pre-launch market will have a maximum leverage of 2x and a position limit of $50,000 per token with an initial margin of 50%.
This new instrument operates differently than traditional standard futures, as its index price is determined by a 4-hour exponential moving average of the instrument’s mark prices.
