Announcement Overview
The DOGS token is now available for spot trading on major exchanges. This digital asset draws inspiration from Spotty, the official Telegram community mascot designed by TON founder Pavel Durov. It embodies the unique spirit and culture of the Telegram ecosystem.
Key Dates and Timeline
Mark your calendars for these essential DOGS token milestones:
- Deposit Window Opens: August 14th, 5:00 PM (UTC+8)
- Call Auction Session: August 20th, 7:00 PM to 8:00 PM (UTC+8)
- Spot Trading (DOGS/USDT) Begins: August 20th, 8:00 PM (UTC+8)
- Withdrawal Functionality Enabled: August 21st, 6:00 PM (UTC+8)
Understanding the Call Auction Mechanism
A call auction is a process where buy and sell orders are accumulated for a specific period before being matched simultaneously at a single price. This method helps discover a fair and stable initial market price when a new asset begins trading, reducing the impact of extreme volatility at the open. For a deeper explanation of how this process works, you can explore more strategies for trading new listings.
DOGS Token Information
- Full Name: Dogs
- Ticker Symbol: DOGS
- Conceptual Origin: Inspired by Spotty, the mascot for the Telegram community, representing its distinct culture.
Pre-Launch Futures Contract Details
A pre-listing futures contract for DOGS/USDT is scheduled for settlement on August 19th at 8:00 PM (UTC+8). Below are the critical rules governing this process.
Settlement Price Determination
The final settlement price is calculated using a precise methodology to ensure fairness:
- Final Settlement Price: The arithmetic average of the index price, sampled every 200 milliseconds, over the hour immediately preceding the settlement time.
- Estimated Settlement Price: A rolling, real-time estimate of the above calculation.
- The exchange reserves the right to incorporate spot prices from other component exchanges into the index calculation.
Pre-Settlement Position Limits
To mitigate settlement risk, specific trading restrictions are activated one hour before settlement. During this period, users cannot increase their positions. Only actions that reduce existing exposure are permitted:
- In "Open/Close Position" mode: Users can only place orders to close existing positions.
- In "Buy/Sell" mode: Users must place "Reduce-Only" orders or place counter orders that do not exceed their current position size.
Associated Fees
A standard settlement fee of 1% will be applied to all positions settled through this contract. Any changes to this fee structure will be communicated through an official announcement.
Price Limit Rules
Price limits are enforced to maintain an orderly market:
After Contract Generation:
- Maximum Buy Order Price = 1-Hour Average Mid Price × (1 + 15%)
- Minimum Sell Order Price = 1-Hour Average Mid Price × (1 – 15%)
During the 60 Minutes Pre-Settlement:
- Maximum Buy Order Price = 1-Hour Average Mid Price × (1 + 5%)
- Minimum Sell Order Price = 1-Hour Average Mid Price × (1 – 5%)
The mid price is calculated as (Best Bid Price + Best Ask Price) / 2 and is updated every minute.
The Settlement Process
At the moment of settlement, all trading for the contract is halted. Any outstanding user orders are automatically canceled. All open positions are then closed at the determined final settlement price. The platform retains the right to adjust the final price to a reasonable level if market manipulation is suspected in the hour before settlement.
Post-Settlement Account Notes
Following the settlement, users with a settled position value exceeding $10,000 will experience a temporary 30-minute restriction on all asset transfers within their trading account. This is a standard security measure.
Historical order and bill records for the DOGSUSDT futures contract will remain available for query after settlement. Users are advised to download these records from the desktop order center if they wish to maintain a backup.
Critical Risk Management Advice
The period leading up to a contract settlement can experience significant price volatility. Users are strongly advised to:
- Proactively manage risk by lowering their leverage.
- Consider closing positions ahead of the settlement time.
- Understand that if incurred losses exceed the insurance fund, an automatic deleveraging process may be triggered, starting with the most profitable positions in the system.
Frequently Asked Questions
What is the DOGS token?
DOGS is a digital asset inspired by the Telegram community's mascot, Spotty. It represents the culture and collective spirit of the Telegram ecosystem and is now available for spot trading against USDT.
How does the call auction work for the DOGS listing?
The call auction is a one-hour session before spot trading begins where buy and sell orders are collected. All orders are matched at a single, equilibrium price at the end of the auction to establish a fair initial market price for DOGS, helping to minimize opening volatility.
What happens to my pre-listing futures contract at settlement?
When the pre-listing contract settles, all open positions are automatically closed at the calculated final settlement price. Trading is halted, and all pending orders are canceled. The value of your settled position will be credited to your account.
Are there any trading restrictions before the futures contract settles?
Yes, in the final hour before settlement, you cannot open new positions or increase existing ones. You can only place orders that reduce your current exposure, such as "Reduce-Only" orders or orders to close your position.
Where can I find my trade history after the contract settles?
Your historical order and billing records for the settled futures contract will remain accessible in your account on the desktop platform's order center. You can download these records for your personal archives.
What are the major risks of trading new listings like DOGS?
New asset listings are often subject to high volatility and liquidity risk. Prices can change rapidly. It's crucial to understand the asset fully, use risk management tools like stop-loss orders, and only invest capital you are prepared to lose. View real-time tools that can help monitor market conditions.
Investment Disclaimer
Digital assets are innovative investment instruments characterized by significant price volatility and a high risk of investment loss. It is essential to thoroughly research and understand digital assets before investing, realistically assess your own investment capability and risk tolerance, and make prudent investment decisions carefully.