updated: Apr 14, 2020 22:00 KST
April 14, 2020 (Newswire.com) –
A global cryptocurrency derivatives trading platform MCS (mycoinstory.com) has announced the launch of its TestNet on April 13. MCS, headquartered in Seychelles, is the next-generation cryptocurrency derivatives trading platform consists of finance and cryptocurrency experts.
A perpetual contract, which has the highest trading volume in the cryptocurrency market, allows traders to capitalize on the rise and fall of asset prices. Therefore traders can profit even in the bear market while at the same time use leverage to control a larger amount of equity in the market.
MCS introduces an innovative ‘multi-position’ function, which allows traders to manage three positions in one account at once. This unique asset management function shares one order bookkeeping the liquidity of the multiple positions in one place providing a robust trading experience. The ‘multi-position’ function expands the horizon from having one or two positions to being able to manage a total of three different positions at the same time. With this function, traders can diversify their trading strategies through hedging and speculating with different leverage for each position.
The industry has demonstrated instabilities in the systems, especially in the mark price, a reference price of a derivative, which is used as the trigger for liquidation. Many exchanges in the market currently adopt the BTC/USD trading pair, however, since there are only a limited number of exchanges that handle the BTC/USD trading pair, the lack of liquidity and reference points lead to an increased likelihood of resulting in unnecessary liquidations from systematic errors. At MCS, BTC/USDT trading pair is used to protect traders from these kinds of circumstances.
Dong Wook Seo, CEO of Rade Lab Inc., the developer company of MCS, said that “as you can see from the slogan, #Be_a_Trader, MCS has a great mission to provide a real ‘trading’ experience through various functions and training materials.”
Dong Wook Seo is also an adjunct professor in the Department of Blockchain at the graduate school of information and telecommunications at Konkuk University. He had worked at Meritz Securities and Coinone COO, which is one of the top 3 exchanges in South Korea, and founded blockchain companies R2V Inc., and Rade Lab Inc.
In commemoration of the TestNet launch, various events will be held for traders around the world for 4 weeks starting from April 13th. The events are Bug Bounty, BTC/USDT Perpetual Mock Trading Competition, and Early Bird Registration for traders to experience first-hand the robust platform. Also, traders who successfully participate in the event will receive a lifetime 40% off on trading fees.
MCS Bug Bounty
– April 13, 2020 – May 4, 2020
– Reward: Up to 100 USDT worth BTC Bonus
MCS BTC/USDT Perpetual Mock Trading Competition
– April 20, 2020 – May 4, 2020
– Reward: Up to 2,400 USDT worth BTC Bonus
MCS Early Bird Registration
– Details TBA
For more information, please visit the MCS website and its official blog, or email [email protected]
Source: Rade Lab Inc.