Part 1: Introduction and overview about the guest
Host: Hello everyone, I am very delighted to be here today to host our very 1st AMA. We wanted to give a warm welcome to everyone who came here to participate in today’s AMA. And as a token of our appreciation, we are going to reward 7 lucky participants. So, good luck everyone!
Host: The main purpose of this AMA is to introduce an important product that the MoonXBT team is about to launch, that is, MoonXBT Options. We have collected some questions about MoonXBT Options that you want to know from various channels, and we are going to answer these questions for you.
Host: Before we start our Q&A, allow me to introduce you to the product team behind MoonXBT Options.
Host: The product team of MoonXBT is a team with rich experience in product development and product operation. Most of them have worked in well-known technology companies, which means they have excellent professional skills, and they also have Extensive experience in the crypto industry, especially in derivatives trading.
Host: This time we invite Elon, a senior product operator from the MoonXBT team, to participate in out todays’ AMA. He will introduce the progress of MoonXBT options and answer any questions you may have in mind.
Part 2: Questions and Answer
Host: Now, let’s officially start this AMA. Ladies and gentlemen, Elon from MoonXBT Product Team.
Elon: Hello, guys, I am Elon, a senior product operator from MoonXBT. Nice to meet you guys, I am honored to introduce the progress of MoonXBT options to you.
Elon: First of all, please allow me to introduce the current situation of MoonXBT options. As the host said, we have a very professional product development team, which ensures that our products have a very stable and rapid development progress.
Elon: At present, most of the product development work for our options product has been completed. In order to ensure that everyone has a very good user experience, we still need to conduct a lot of testing on the product to avoid the appearance of bugs, so MoonXBT options are currently in the pre-launch period.
Host: Thank you very much Elon for sharing your knowledge about the product progress information. I have also collected some questions that users are very concerned about. I would like to ask you, Elon, to please answer these questions one by one.
Elon: Okay, no problem.
Host: Most of our users are new to options. My first question is, what are options, can you give a brief introduction?
Elon: Ok, an option is a trading contract established by the buyer and the seller. The contract contains a “strike price” and an “expiry date”. When trading this contract, the buyer pays a premium to the seller. Before the contract expires, the buyer can notify the seller at any time to execute the contract at the performance price, and the seller cannot refuse.
Elon: In simple terms, options enable the buyer to buy or sell a certain amount of underlying assets at a certain time in the future, and the buyer needs to pay a certain amount of option fees (premium) to the seller.
Host: Ok, thanks Elon for the answer, my second question is, what are the advantages of options over other derivatives?
Elon: Option is a very important derivative with its own trading advantages, I think it mainly includes the three points.
Elon:1. Inherent leverage
Options give holders a right to profit from the price movement of underlying assets at a limited cost and at a future time.
Example: When the BTC price is $45000 and you buy an MoonXBT American option (1-day term) for 1 BTC, the required warrant premium is $1500. In this case, the leverage is 30 times.
Elon:2. Controllable risk
When the market fluctuates sharply, spot leverage, perpetual contracts, and delivery contracts all have the risk of liquidation while options buyers do not.
If the price of the underlying asset falls, the maximum loss of the call options buyer is only the premium. If the price of the underlying asset rises, the maximum loss of the put options buyer is only the premium.
Elon:3. High yield
In theory, call options buyers may have unlimited returns. Take call options as an example. If the underlying asset price rises sharply, the call warrant can reap the same return. Similarly, if a user purchases a put option, a sharp drop in the underlying asset price will bring the user the same magnitude of return.
Host: Ok, Elon, it's really huge advantages. So, my third question is, how many types of options will be listed on MoonXBT options, when is it expected to be listed?
Elon: We will launch four options products, they are Warrant options, Touch options, European spread options, and American standalone options. The first option product to be launched will be Warrant options, which will be launched in mid-February.
We will launch another three option products one after another, and it is expected that we will complete the launch of all option products in end-March.
Host: Ok, I got that. My fourth question is that are there any benefits to the early bird participation option?
Elon: Of course, once MoonXBT options is officially launched, we will launch a series of reward activities, including but not limited to transaction rewards or invitation rewards. At that time, our early participants will have a great chance to get rewards, so I call on everyone to stay tuned and actively participate in our upcoming new options product launch event.
Host: Ok, my fifth question is, what are the advantages of MoonXBT options over other options?
Elon: I have summarized the main advantages of MoonXBT options, so that you can understand why you want to trade options with MoonXBT
Elon:1. No transaction fee
MoonXBT options have no transaction fee, and the option premium is 50% lower than other platforms. Traders will cost less when they trade on MoonXBT options.
Elon:2. Multiple choice of different options
A variety of option product options and Multiple of option expiry dates, which include 5min、10min、60min、1 day 、3 days、1 week、1 month and 3 months. Traders can choose what they want to place an order.
Elon:3. User friendly
MoonXBT options are very easy to use, even for novices. Taking American options as an example, users only need to select the corresponding option product, enter the quantity and the exercise price then you can finish one order.
Host: Ok, thanks Elon, my sixth question is, option trading may be a bit difficult for some beginners, what has the MoonXBT team done to lower the threshold for option use?
Elon: One of the features of MoonXBT options is that it is very easy to start trading. In order to let everyone learn options knowledge and become familiar with options trading faster, the MoonXBT operation team will provide users with detailed text tutorials, video learning materials, and video operation guidelines. We teach newbies step by step.
Elon: At the same time, we also prepare a complete customer service system, which can deal with the problems encountered by users in the first time and ensure a good user experience.
Host: Ok, glad to hear that. My final question, what kind of users can participate in options trading? Are there any restrictions?
Elon: MoonXBT will not restrict new users from participating in option trading. Any user who has completed the registration can trade. However, considering that some users do not know enough about options trading, we recommend that any user who is ready to trade options on MoonXBT should learn options knowledge in advance.
Elon: We have also prepared relevant learning materials and video materials for moonXBT users to ensure that everyone can trade with a good grasp of options knowledge and help everyone become a qualified options investor.
Host: ok, thanks Elon.
Part 3：Live Q/A by Community
Host: What a fruitful day it is! I do believe that after completely understanding the answers to the above questions, we all now have a deep understanding of MoonXBT Options. Now let’s go on to the last segment: You may now start sending your own questions.
Host: I would love to remind you guys of the current trading bonus pool which is still at 70U trading bonus (30u belongs to the twitter user awardee), we will first select the questions raised by three users to answer and remaining four reward places will be randomly awarded to other active questions Users.
1.Can we use copy trades for trading options?
Elon: Copy trading for options will launch later. please keep looking forward to this function, you will not wait for too long.
2.Is this the same as the Binance option?
Elon: It is not the same as Binance. As I have mentioned, the option premium is half of Binance. And we have more choices of expiry date.
3.Are there any fees for options? How much do you charge?
Elon: There are no fees for options. only pay a premium, feel free to trade!
Host: I would like to thank everyone for actively participating in today’s event. My heartfelt gratitude to Elon for accommodating our questions and for giving us insights in this crypto world.
Host: That’s all for today and I wish you all an amazing trading experience!