Pi42 Release Notes
Version 1.1 (Release Date: 14th December 2023)
New Features:
1) CryptoConnect: Refer & Earn
We are excited to introduce our new Referral Program! Now, users can easily refer friends and colleagues to Pi42, earning rewards for both the referrer and the new user. This feature is designed to enhance user engagement and expand our user community.
You can refer your friends or family to Pi42 and when they complete KYC and start trading, you will start earning Upto 40% of their trading fees “Referral Commissions” as well as they will get a FLAT 10% “Fee Discount” INSTANTLY as soon as they trade.
PS: Do check your INR wallet transactions to see the rewards 🙂
2) Funding Fee Implementation:
In perpetual futures contracts on Pi42 there is a mechanism called the funding rate that aims to keep the price of the futures contract in line with the underlying spot price.
The funding rate is exchanged directly between long and short traders every 8 hours. If there are more open longs, short traders have to pay the fee. If there are more shorts, long traders pay.
Funding rates vary based on market conditions and asset volatility. They tend to range from 0.01% to 0.5% typically but can sometimes spike higher during periods of extreme volatility or imbalance between longs/shorts.
By keeping longs and shorts balanced, the funding mechanism on Pi42 futures helps reduce market manipulation and extreme volatility.
Enhancements:
Improved User Interface:
We’ve made updates to the user interface to enhance overall usability and provide a more intuitive experience for our users. The changes include [specific UI enhancements].
Performance Optimizations:
Our team has worked on performance optimizations to ensure faster load times and smoother interactions within the platform. Users can expect improved responsiveness and a more efficient overall experience.
Thank you for your continued support and feedback. We look forward to bringing you more exciting updates in the future!