🤩1000X Trading
What is 1000X？
A perpetual contract with a 1000X leverage is a type of financial derivative that allows investors to invest with a leverage ratio of 1000 times. This implies that investors only need to provide 0.1% of the investment amount as a margin to make a trade equivalent to one thousand times the investment amount.
For example:
If you choose 1000X leverage on JOJO for a trade with an exposure of 10,000 USDC, you only need to invest 10 USDC in margin to open a position.
Hyper Matching Engine
Offering 1000x leverage is exceptionally challenging, as the risks associated with such trades are very high. We need:
Superb liquidity
Extremely low trading fees
Ultra-fast settlement speed
JOJO has developed a hyper-matching engine that can achieve zero slippage execution, trading fees as low as 0.01%, and 10ms level settlement. The hyper-matching engine operates independently from regular perpetual futures trading, and all risk parameters are also separate.
The trading pairs available for 1000X leverage are BTC/USDC, ETH/USDC, and SOL/USDC.
What is unique about JOJO's 1000X leverage?
1000X operates a separate account. Users can deposit directly into their 1000X account or transfer funds from their perpetual futures account.
The calculations for position profit and loss, opening and closing positions, and liquidation prices for 1000X are all based on the index price, not the oracle price or mark price.
The trading fee for 1000X is only 0.01%. In regular perpetual contract orders, the taker fee is 0.03%.
1000x uses isolated margin mode, where the margin for each position is independent and liquidated separately. Each position has its margin and will not be shared.
The maintenance margin ratio is 0.02%. If the position's margin equals maintenance margin ratio * position Size * index price, your position will be liquidated.
Where do the index prices come from?
The Index Price, sourced from Binance, aggregates prices from major spot market exchanges. It is used to calculate entry and exit prices and profit and position margins.
Lucky Draw
JOJO has introduced a lucky draw game.
Participating in 1000X bet trading grants users lottery entries. Each user gets one lottery entry per 10U liquidation in 1000X leverage trading.
The JOJO luckydraw starts every Monday at 08:00 GMT and ends the following Monday at 00:00 GMT, lasting a total of 6 days and 16 hours. The current luckydraw is only open to users who were liquidated from last Monday at 00:00 GMT to this Monday at 00:00 GMT.
The time from Monday 00:00 GMT to 08:00 GMT is for JOJO backend statistics, and the number of liquidations during this time will be included in the next lottery.
If you are liquidated this week, you can participate in next week's lottery event. For example, if you were liquidated by 350 USDC from April 29, 00:00 GMT, to May 6, 00:00 GMT, you will have 35 chances in the lottery event from May 6, 08:00 GMT, to May 13, 00:00 GMT.
There are four tiers of prizes: 100U, 50U, 10U, 1U. Every draw wins a prize!
Fees:
Trading Fee: 0.01%
Liquidation Fee: 0.02%
There are no gas fees for 1000x trading.
There are no funding fees for 1000x trading.
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