There is a difference between u-standard contract and currency standard contract. Will u-standard contract explode

u What is the difference between standard contract and currency standard contract ,u Will the standard contract explode

Today, I will take you to have a deep understanding u What is the difference between standard contract and currency standard contract .

First of all, we need to know what is U Standard contract and currency standard .

1. Currency standard

Currency standard ”, It refers to position building and final delivery , All the products used are the corresponding target products , For example, you need to be long or short BTC, You need to fill in the contract account BTC, Ultimate loss or gain , They all use BTC Settlement .

2.U Standard

“U Standard ”, It refers to position building and final delivery , It's all used USDT As a negotiable document , Whether long or short BTC perhaps ETH And other currencies , All need to be charged into the contract account USDT, Ultimate loss or gain , Are subject to USDT Settlement .

So what is the difference between the two ？

1、 Different pricing units .USDT The standard perpetual contract is based on USDT Is the unit of valuation ; Currency standard perpetual contracts are denominated in US dollars . Therefore, the index price between the two will also be different , such as BTC/USDT The index price of is taken from each exchange BTC Spot exchange USDT The price of ; and BTC/USD The index price of currency standard perpetual contract is taken from each exchange BTC The price of spot against US dollar .

2、 The contract value is different .USDT Standard perpetual contract the value of each contract is the corresponding target currency , such as BTC/USDT The face value of is 0.001BTC; Currency based perpetual contracts the value of each contract is USD, such as BTC/USD The face value of the contract is 100 dollar .

3、 The currencies used as collateral assets are different .USDT Standard perpetual contract all kinds of contracts use the pricing currency USDT As collateral assets , Users only need to hold USDT You can participate in the transaction of various kinds of contracts ; Currency standard perpetual contracts are secured assets in the underlying currency , Users need to hold the corresponding target currency to participate in the transaction of this kind of contract , such as BTC/USD Currency based perpetual contract , The user needs to transfer in BTC Act as an encumbered asset .

Due to the different currencies used as collateral assets , When prices fall , The risk of depreciation of the collateral assets of the two contracts is also different . Suppose that BTC/USD When the perpetual price of the currency standard falls , The higher the requirements for the collateral assets required by the user's position , Required for holding secured assets BTC The more ; but USDT Standard perpetual contracts because the collateral assets required are USDT,BTC Falling currency prices will not affect USDT The value of the encumbered assets .

The currencies for calculating profit and loss are different .USDT Standard perpetual contract all kinds of contracts use the pricing currency USDT Calculate profit and loss ; Currency standard perpetual contracts calculate profits and losses in the underlying currency , For example, user transactions BTC/USD Currency based perpetual contract , The currency of profit and loss is BTC.