Toobit will launch USDT-M ETC perpetual contracts on the Web, APP and API at 03:30 am (UTC) on 10 May 2023 . Details are as follows.
Mode: Cross & Isolated
Leverage: 1 - 75X
And the Trading of ETC spot trading has listed on the Web, APP and API at 03:00 am (UTC) on 10 May 2023 .
What is Ethereum Classic (ETC)?
Since the fork occurred in 2016, Ethereum Classic and Ethereum share many similarities:
- Ethereum Classic is an open-source, globally decentralized computing infrastructure, executing programs referred to as smart contracts.
- Ethereum Classic’s supply was pre-mined (72 million). Among these pre-mined ethers, 60 million were sold during an Initial Coin Offering in 2015.
- Its PoW algorithm is Ethash, an algorithm that was initially designed to prevent ASIC mining. Block time has a target of ~15 seconds (with a maximum block size of 1,500,000 gas). Mining rewards are paid at a fixed rate of 4 ETC (vs. Ethereum’s 2 ETH) but will be reduced in the future to 3.2 ETC (at block 10,000,000).
- Ethereum Classic is (quasi) Turing-complete, but each transaction requires gas, with price fluctuation based on real-time bandwidth use. Hence, transaction fees are a function of storage needs, bandwidth use, and computational complexity. Gas is used to prevent infinite execution of programs; it introduces an execution stopper equal to the maximum fees set for a transaction.
Circulating supply ：140,885,209.46 ETC
Total supply ：210,700,000 ETC
Max. supply ：210,700,000 ETC
Please note that perpetual contract trading is highly leveraged and risky, please read the relevant risk tips carefully before trading.
Toobit has put in place strict risk management measures to ensure the safety of your funds. In addition, our platform offers a user-friendly interface, fast order execution and high liquidity to enhance your trading experience.
We are committed to providing the best trading products and services to our users, and we look forward to your participation in the USDT-M derivatives trading, with additional contracts coming on stream as they become available.
Thank you for your support!
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Toobit reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.