Announcement from Ouyi on the official launch of SHELL perpetual contract

Dear Ouyi user: Ouyi will officially launch the SHELLUSDT perpetual contract on the web, app, and API at 8:00 PM (UTC+8) on February 27, 2025. The detailed rules are as follows: 1. Opening time *SHELLUSDT contract trading opening time: 8:00 PM on February 27th (UTC+8) 2. Contract Introduction SHELLUSDT perpetual contract: MyShell is a decentralized AI consumer layer that connects consumers, AI agent creators, and open-source researchers. *English full name: MyShell *English abbreviation: SHELL *Project official website: https://myshell.ai/ *Twitter: https://(x.com)/myshell_ai Contract Elements | Details| Underlying Contract | SHELL/USDT Index| Settlement cryptocurrency | USDT| Face value of the contract | 10| Price quotation | quote based on 1 SHELL USDT price| Minimum price change (Tick size) | 0.0001| Leverage | 0.01~20x| Funding fee | Clamp (MA ([(contract buy price+contract sell price)/2- spot index price/spot index price - Interest), -1.5%, 1.5%), where Interest is 0. Note: The payment of funding fees is made in the current period| Fee collection frequency (Funding interval) | 4 hours| Trading hours | 7 x 24 hours| Note: The premium when the new contract is launched is relatively unstable. To avoid unreasonable collection of funding fees, the upper limit of the funding fee rate will be calculated at 0.5% before 00:00 on February 28, 2025 (UTC+8). After 00:00 on February 28, 2025 (UTC+8), the upper limit of the funding fee rate will be adjusted back to the normal 1.5% [the actual collection time of funding fees for this period will be 4:00 am on February 28, 2025 (UTC+8)]. If there is a deviation in the price of this contract, the funding rate will be adjusted according to market conditions. In addition, the trading rules such as limit prices for SHELLUSDT perpetual contracts are consistent with other currencies. For details, please refer to the perpetual contract explanation document: USDT margin perpetual contract: Ouyi perpetual contract user agreement Ouyi will continue to provide you with better products and services! Ouyi team February 27th, 2025