Event Overview
At 14:00 (UTC+8) on July 1, Gate's stock derivatives zone went live with the first batch of perpetual contract trading. The launch covers nine U.S. stock symbols: PDD (Pinduoduo), STRC (MicroStrategy Series A Perpetual Preferred Stock), TSEM (Tower Semiconductor), AAL (American Airlines), AMKR (Amkor Technology), ASX (ASE Technology Holding), MVLL (2x Long MVST Daily ETF), FLEX (Flex), and APD (Air Products and Chemicals). All contracts are settled in USDT and allow leverage from 1x to 20x.
Product Design and Market Positioning
The stock derivatives zone builds a new bridge between traditional assets and the crypto world. Through the perpetual contract model, users can participate in price fluctuations without holding actual U.S. stocks, with flexible position management. Users can choose low leverage for conservative operations or amplify up to 20x for higher returns. Using USDT as margin and settlement currency reduces friction from cross-border transactions and fiat conversions.
The selected underlying assets cover multiple industries including technology, semiconductors, aviation, semiconductor packaging and testing, precision manufacturing, and chemicals. Pinduoduo represents Chinese e-commerce stocks, MicroStrategy's preferred stock is indirectly tied to Bitcoin-related assets, Tower Semiconductor and Amkor Technology reflect the global chip supply chain, American Airlines is influenced by travel demand recovery, ASE Technology and Flex are leaders in semiconductor packaging/testing and electronics manufacturing services respectively. MVLL, a 2x daily long ETF on MicroVision (MVST), provides a leveraged tool for bullish bets on the chip design company.
Implications for the Crypto Market
Gate's timing for launching the stock derivatives zone coincides with the accelerating convergence between the crypto market and traditional finance. The perpetual contract, originally a crypto-native derivative, is now applied to U.S. stock underlyings, lowering the entry barrier for traditional institutional investors to access crypto platforms while offering crypto users more diversified trading instruments. As regulatory clarity progresses, such cross-asset derivatives may become a new growth driver for the industry.
Note that using up to 20x leverage requires careful consideration of market volatility and potential gap risks in the underlying assets. Users are advised to allocate positions according to their own risk tolerance.