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Gate.io Adjusted Time and Threshold of Rebalancing of 3L&3S ETFs

2020-03-17 14:28:51Read:34786

To cater to the desire of Chinese users to read about the market sentiment, Gate.io has added a time reference of UTC 16:00 for data on the Chinese version of the platform and has adjusted ETFs’ rebalancing time from daily UTC 00:00 to daily UTC: 16:00. Meanwhile, as the enormous fluctuations in the prices of underlying tokens have frequently incurred temporary rebalancing, a mechanism preventing leveraged ETFs from forced liquidation, the threshold of the temporary rebalancing has been adapted up to ± 20% from the original ± 15%.

Gate.io provides 3X-long (-3L) and 3X-short (-3S) ETFs of multiple mainstream cryptocurrencies that are provided with strict funds management and are hedged for margin trading in the Perpetual Contract market. The leverage rate is corrected daily to remain leveraged at 3X through the rebalancing of the ETFs; users can easily trade on margin without paying any collateral.
ETF products are governed as hedge funds in the Perpetual Contract market, which requires 0.3% daily management fees to cover the costs of the handling fees and market quotations arisen in the contract market. Except for the management fees, no extra contract funding rate is charged.

Please note that owing to the high costs of ETFs and the rebalancing mechanism, the yield will be larger if the price keeps rising after buying in or the price keeps dropping after selling out in the margin trading of leveraged ETFs; conversely, the yield will be worse if the market sentiment is swaying. Hence it is significant to read the rules carefully before commencing to trade.

For more explanation on the ETFs, please refer to the below documentation. Gate.io will soon provide detailed documentation for your reference.
https://www.gatecn.io/help/guide/17349 and https://www.gatecn.io/help/guide/17349
(Currently, only Chinese version are provided)

Gate.io only provides spot trading of the ETFs products of “-BULL” and “-BEAR” to users, but doesn’t manage the products, so the net value of them remains unclear. Please note that low circulation on the market may lead to a large deviation between the strike price and the net value. The ETFs products of “-BULL” and “-BEAR” will be removed from the platform later.

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Gate.io
March 17, 2020