Thank you, then, thank you so much for joining us. How you doing how you doing pleasure to be here, I'm. Very, very good. Last time I saw you we were out in Singapore. Where are you in the world now there? The last time we saw was, in Singapore, thing, block, show I'm actually sitting right now in our show my office. Okay, all right good, wait! First, how is everyone dealing with everything out there with this local bad guy? Thank you for asking. First of all, our staff are all safe and sound. Things are getting back to normal in Shanghai, so but we did work from home for a pasta, probably three weeks yeah, but we thought it would be very difficult, but it turned out to be quite efficient. Actually it didn't slow, slow us down. Yeah you'll have to travel a lot. I was super late hours, you're ours or your house, and for our youtubers out there on the coin Telegraph channel. So those of you who do not know and I'm gon na live lucky. The limiter, but by bit dizzy, crypto or cryptocurrency derivative exchange their launch to certain at the end of 2018. This exchange diff traders, the ability to trade, Bitcoin and aetherium professional contracts with up to a 100 to 1 leverage, and now then, has an absolutely fantastic presentation. He'S going to talk about a few more aquatic features will have an AMA right after that with 10, so get jump in the chat.
Right now start getting ready to ask those questions. Let me know what you want to know Ben's near plane. Telegraph is here, let's jump right into this presentation like that with that hello, everyone, my name is Ben I'm, the co founder and CEO of Babbitt. Thank you for watching the bible. Q2 product launch event I'm. Very excited to launch some of these products that we built over the past six to eight months. The team has been working nonstop to deliver you. What I can show you today so very excited and thank you, corn Telegraph for making this event happen. I will guarantee you these will be some of the most exciting 30 minutes you see, and we believe that these products, actually three products we launched today, are something the industry has never seen before. So let's get right into it. Before I go jump into the product. I would just like to show you guys a little bit about who is viable at our key numbers. If you don't know, we are a crypto derivative exchange, we launch in 2018 December and so far we've achieved quite significant numbers in terms of total registration. We have over 300000 clients registered with us globally and we have a daily active user or active trader trading arm by bid around 15000 people. This is using both PC and Mobile. Also, our average daily trading volume is little over 1 billion now. Lastly, our daily average unit united, unique visitor, is around a close to 30000 on a daily basis.
Our clients is pretty much all over the globe with majority of them coming from Europe, 70 and the rest are pretty much the bulk is in Asia. We got some good influence in Korea, Japan, and so how do we get there? We believe in these four core beliefs or four unique points that represents by bit, and we would like to emphasize on these four points when people think about by a bit number one is always clients. First, whenever we ask ourselves what does this product build for? Why we're here is we are providing a value back to the traders back to the clients, so we will always listen to their feedbacks. Our module is listen care in truth, so all of our product, detailing all of that is based for clients needs first. Okay, number two is: we are very much retail focused by a bit. Probably if you look our UI, if you look at our mobile, it is a very much retail friendly product. We believe that in a crypto industry most of the clients are still retail clients and what retail clients are thinking our product is designed and dedicated for them. I don't believe I don't think everyone is institution or a shark so that we want to make sure that whenever our retail client is run into issue, they can find us 247 online. They would like our product like our UI. So this is the whole business philosophy, and the platform is built on number three is private, is a dedicated derivative exchange and we would like to focus on that.
Most of the team's background are coming from traditional finance and where we understand the philosophy of exchange is to not go horizontal, but to go deep, so you need to have a better risk management, better product, very high availability, which actually baby has proven itself over the Past volatility or major prices, spikes that will be improving our system has been very stable and robust and that's, because we focus on the really detailing part of the finance of the dirty space. Okay, lastly, is we believe the whole business buy this product driven, although we always have good promotions, good operational teams, but at the end, the day clients choose us, because our product, we spend our so many hours in building the detailing part, to make sure that our Product is fine tuned for our clients, so that we believe we will stay focused on that. We will be bending out new products always to deliver to you, so that our clients will always get the first hand to our new products. Okay, so what are we done? In the past few months, first is: if you notice, our website is already changed: it's a whole new, UI and UX. So let me just show you a slide, so what you hear is actually our new tack mode. We have fine tuned our current back mode, because our client actually really loves dark mode to a new new dak mode to be is more smoother, more refreshing and what my designer telling me more breathable, okay, so my designer team spent hours in looking at a dark Mode and and trying to design the color contrasting and also the layout, to help trader to focus on the price movement on the chart and also when they need a for the older placement part.
So all of that is they want our trainers to be focused. So I'm also is friendly to the eye and what they call it. The higher compatibility. Ok. So this is what we built for the UI part. Yes again, they call it the my design team call it the breeze WY you wax and also I will show you later on. All the training modules are still moveable and customizable. So it's very cool here and our whole design philosophy is: we follow the Android q version and also the I was 13 dark theme and we borrow some the idea there. So we implement it into our app and our PC for the users so it's more smoother. More user friendly, okay next, is what we did with the front end. We actually completely overhauled our front end architecture resulting much smoother and no leg experience. This is actually one of the most feedback we've received so far. Is that, especially during volatility, some of our clients would experience what they call a lag. The issue could be caused by many things, but one of the major issue was because our current UI was costing too much computation or CPU power. So when the price moves significantly, there are so much so many price feed being pushed into the UI. It lacks the whole browser, so we have actually undergone a whole architecture overhaul to change that. What we did is. First, we implement a micro application web your structure, so we divided all of our currently from UI into different modules and different micro applications and throw that so that if one application becomes issue or problematic, we can upgrade that and I also lower that computation cost.
Okay, and also based on that, we use the new mvvm architecture, will always call a module view or view module architecture, which is one of the latest. I believe one of the latest front end architecture combining these two, our performance or capability, are up 300. So, with our already, this is implemented to all of our new product, we'll be implemented to our current inverse contract, meaning that you will not experience any lag or any high cost or ram or for the for a browser. So it should be much smoother without new products. Okay, and also allow is that we implement a full multi dimensional monitoring system, meaning that, if any clients have issues with their front end, either lagging or disconnections or whatever they can come to our customer support. We will be able to spot a problem very in detail and so that our developer can look into it and and start a problem, and we can fix it right for our clients. So this is something a monitoring system we implemented on top of the front and also the back end the matching engine data settling the order setting the risk management. All of that has been fine tuned in our new products: okay, meaning that is more TPS, more processing power and better a little bit availability, so that is more stable. What we did is based on our current multi threaded computation module on the matching engine. We actually is able to now achieving 10000 TPS per single shard in our matching power matching engine with less than 20 millisecond delay, and also this support horizontal expansion.
So that means when there are a lot of processing coming up, we can divide our clients and processing into different charting and so that we can actually horizontally expand our processing power for the matching engine number two is: we actually are also optimize. Our l2 market data processing performance to be 10 times faster or better than before. Ok, lastly, is our order is being implemented? It'S been pushed processed and becomes data all that circle. We have been fine tuning that so that has been all the process will cost less than 20 milliseconds so that that's, the the back and matching engine fine tuning that we did for our new products. So without further ado I'm going to launch or announce our first product, which is our flexion new product, is called the US DD perpetual contract and many clients has been asking that and we are finally have designed this product. The way we want it so I'm very excited to show you guys. Let me actually go to my browser and show you guys, okay. So what you see here is our new u.s. DT settled linear, contract, linear, perpetual contract right off the bat it's, a beautiful UI. We have the new UI that I showed you before and there's something very unique here. If you see on the odorous placement, there's trust margin and isolate a margin so I'm going to actually tell you the first unique function of our professional contract, linear perpetual contract.
As you can see that there to leverage buy and sale, why there to leverage let's place, the order and I'll show you. So let me play say actually a by order of five PTC right now. Here we go, execute it and a sell order. Let'S say of 10 PTC now normally in our universe, contract, because other positions are merged. If I place a 10 BTC short order, my position holding would just become 5 short deducting the 5 long. I just placed it now, however, in our new us DT perpetual, you can now actually hold post put long and short at the same time, so we're very happy to announce that our new us, DT perpetual contract is available for is possible for hedge trading. Ok, so you can hold long and short at the same time, what's even better. If you can different levels for different for long and short, so you can do let's, say 20. You go let's do 20 for long and actually 100. For short, now you hit confirm here we go, you can actually change your leverage here. Okay, and also you can actually place you can switch between isolated margin and cross margin. Okay. Another unique point I want to show you is we added many uncharged now I'm treating you on up on the price chart. You can see that the position now is shown on the chart. What'S interesting. There are two buttons. One is called a reversal position.
One is called closing is closing: the cross is to close their position, so let's say I'm. Actually now in the hedge kind of position, with some short exposure of five BTC, I want to completely go short because I believe the price would would go down. So what I do is, I can do a reversal here and my five long becomes five short, so this is what happened so right now. If I want to switch again because I'm in a short now I want to switch to get back to LA. I can do that. It was too quick here and then my five becomes. Five PTC position becomes long position again, isn't that awesome and also here you can close your position very fast. So we added a few very cool uncharged functions. You can switch between cross and isolate your margin here, assigning your different leverage, so I'll go back to cross okay and you can see when you enter a position. Let'S try to enter again a market here in the holder replacement. You can enter a limit order or market order. Let'S just do another market, one BDC you can see, we built the tip profit or the famous bible take craft and a stop loss function is no longer in the holder, confirmation page. Now we actually build it directly into the older replacement. So here you can set to be your take profit and stop loss to be triggered by last traded price index or mark price as usual, and then you can just open and long with your take profit.
You go and stop loss pre entered and you don't have to worry about that. Okay. So here, obviously you can still change the price of your take profit. Stop loss, also your trading stuff, so we do offer trading style functions. A lot of clients don't know. So you can set 50 here, a trailing stop and everything is on chart. Look at that everything is on chart very fast and the whole. You went very fast, very smooth, okay, so let's market close this position here. Alright, oh one more thing I want to show you is the fast order entry function here or we call it one click trading, so you can actually enter a very fast position as a for PTC right here on the chart. Please know this: is the market order? Okay, so it's designed for fast entry when the price moves like this very quickly – and you can see here – and I can also place a for shot here – and you can do that. Okay, this is very smooth, very fast. Okay. One more thing I want to mention is that for our us DP linear contract, we utilizes portfolio margin so that clients margin are you can utilize all your margin, even your unreal here now. So let me give you example: if you currently have a position with USD BTC USD and you have some floating or unrealized profit, you can actually utilize that to place another order, either for another pair ETH USD T or to you know, gain more positions in BTC Usd T so it would be very it's a much better tool way to utilize your your margin along that way.
Okay, so this is our linear contract we have built. Also in the older replacement part, there is actually a closing function, so you can actually use different strategy to close your position, for example, if I want to close my short I have for short now I can just click on here for and then close it, and Here we go, my shorts are closed or if I want to close my long position with a limit order, I could do that. Okay, I could close all four and I could close the madness. A semi solid, close, my loan. Okay. So here we go and then that becomes the active order in the other book and it should be somewhere here here we go see here, yeah and in the position area you can see closed PampL and all that good info and as usual, you can see the Contract details on the right hand, side right now, right bottom, and here we go so this is our USD T, linear contract. If you guys have got any questions, please leave a comment and later on after I present all the products, we all be able to answer some of your questions. Ok, cool let's go back the next product I'm going to launch before I tell you what it is. I want to just explain, will be observed and why we do this product, as we saw a growing trend, a growing demand for option product. Many clients come to buy a bit and ask do you all? Can you offer some sort of option product, and so we actually have been internally discussing this idea, and but we noticed that whatever is available in the market, especially for option is really too complex for any retail traders, ma, like I said before, we are a retail Focused platform, so we sit down and we talk among our product managers and ask ourselves: how can we make option simpler and how can we incorporate option into our current perpetual contract? So the conclusion was especially in traditional markets.
People use option very in very different ways, but one of the major ways is using as a health risk to use option and also the user actually as insurance. So we sit down with this violent way, make a product an option type of product into a insurance. For our traders, so this is what we have to announce is our next new product it's an option product and it's called the contract insurance or you can think of it as a liquidation insurance that product is built into our current universe, perpetual contract. Let me just quickly show you I'm sure you guys are very eager excited to see. Okay and this product will be launched, maybe a week or two after the linear contract. So I have the design. Ready is actually already in test net, but in our internal test net, but we are still undergoing in debugging and all that. But here you can see the UI you can see what is about once you have entered a position into imbibe and current inverse contract. Let'S see BTC USD pair, we will pop you with a little little mark on your position area on the left side, to ask you if you want to purchase this inference once you click on that depends on your position size. You can actually purchase a insurance cover up to hundred percent of your position or off your margin. So if you utilize less than 1000 as a margin to trade, a long position, you can actually have a lot of protection insurance to cover all your cost.
Given that you pray this, you pay a premium for this insurance, so it's essentially an option, but what it does is actually a combine movie called a combined a european style and also an american style option. But let me just go into the detail here on the right side, so you can see that the long the contributions the lump is a protection once you once you purchase that if the price go down and let's say price moves down, 50, you would gain let's, Say the predicted 0.06 86 BTC in return to cover your your loss or, if the, if it goes further, it shows you the potential gain. Okay and underneath clients is able to choose insurer amount 25 up to 100 now in our next version. So this is our first better version in our next version. Will it be able to allow clients to choose whatever amount they would like to cover even more than 100? Okay, and also you need to choose a insurance tuition, meaning that how long this insurance you want to cover your position, for you can choose up to 48 hours, but we offer much more choices later on even up to 30 days. Something like that. So other rest is very plain and simple, but what is a good scenario to use this insurance? Let'S say you have a long position right now and the big point having having is coming up version in the next let's say two days or 48 hours.
You do not know what's going to happen in the market. There are a lot of unpredictability, so you want to cover your risk and then this insurance becomes very useful because the mosque is already pre calculated with your premium cost, but the potential gain is limitless same as any option. So this is what we've designed it. So we call it the the babbitt cars or whatever it's a much more simple version of the option that we you have in the market where you can buy and sell and doing all that. But this is our first try I'm, offering a option product for our clients, and this is built into perpetual contract. So this is something new and very exciting and I hope you guys will like it. So please leave some comments. I will answer them later after this presentation. Okay, this will be launched. I believe, in two weeks and by the way, our linear USD D contract will be launched tomorrow, on our mean net. Ok, please note these are all better releases, so, okay, lastly, but not least, is as our cert product I'm about to launch let's. Also talk about the trend. We'Ve actually noticed a significant move from trading on the PC to mobile right now, 50 of clients have moved to mobile app training. We have a very good mobile app for for contract trading. So if you haven't download our mobile app, please go to App Store or Google Play Store to download that and play around with it.
But the given trend is that we've seen a significant movement from trading on PC to mobile, because 24 crypto is 247 non. Stop and we believe trading should be non stop as well, but the struggle is most of the app first of all. A lot of platforms, don't even have app and number two is the app there is available in the market are only designed for very simple trading, but we observed clients need and demand for a more advanced, more sophisticated type of trading happening on mobile, and we believe This is future. Clients will be moving into app trading if you can provide them a better tool, so the third product we are going to launch in q2 is our new app product called the strategy alert or the autoloader system. Right now, if you open up the buy paid app mobile app, you actually see that there is a tab called alarm. Alert. Okay, but currently is a very simple function that just to give sent you some simple price alerts. When price reached a certain level that you set, but this was not original design or original design – was much more complex complex. So this is actually the step. Two of the original design is to give a much more complex ability in the price alert strategy of our section. So what it is I would like to show you is you see here we actually design a few. It will be called a strategy alert.
The strategy alert is clients able to actually choose a indicator or even, if you draw a line on your mobile on your mobile app in our price chart, if the price moved to a manual drawer or to the indicator, you said, for example, Fibonacci retracement to a Certain retreatment point, even if your phone is off, we will send you an order to tell you hey, your indicator has been triggered or your the line you draw. The price has reached it so that we can actually give that specific, customizable notification to your phone, because we believe that the most useful function for anyone to use the mobile training is we can you can. We can actually find you and notify you, and this is the most important feature for mobile training, so we actually build this first version of the strategy alert is to actually set any different indicator on different price chart. If you look at the right side on a frequency, you can, you can select a price chart, 30 minutes one hour four hours and then the trigger whether the price is crossing up or it's touching or repulsing, and then alert will send you immediate mobile push telling You now hey, this indicator has been triggered. This strategy is able to be entered now, come back to the mobile phone, so this is the first version of the strategy alert, but in down the world we are planning to also add a auto trading system into the mobile, so that when the strategy alerts is Activated a conditional order or limit order is automatically pushed or be placed on your behalf into the ODA book, so that everything is automated.
That part will have to be coming up after the strategy alert about the strategy. We'Ll be the first advanced type of mobile trading strategy, type of app that is available on the Babbitt app in q2. I believe this will take another, probably a month or so be able will be able to launch it in our mobile app, okay, so very exciting times. These are the three cool products we are going to launch number one. Is the u.s. DT perpetual contract number? Two? Is the contract insurance option type of product which will be developed into a standalone product later on number three? Is the mobile app product? Is the strategy alert which is the step one of the more complex trading in a mobile? Okay, all right so with what we? What do we have down the road in q3 or q4? I can give you some hints number. One is the standalone product. I was talking about the simple file option product that baby is going to launch in q3, most likely, and then we are also already having a practing looking into exploration contract. We have many clients have the demand and they want to trade, a quarterly or one sort of exploration contract with no funding rate, so they can play a different strategy within pi bit and that will be available in q3 or q4 down the road that we actually Already put that into pipeline, so that will be available definitely this year and after that we actually are looking also looking into etf products.
We understand there are some growing demand for ETFs as it's a simpler way to trade it's. The easier way to understand the product comes with three to five leverage on its own. So, but we want to look at the current market, the industry, what has to offer and how do we make it simpler? How do we make it retail so that our retail clients can use it? So these are the three products that the pipeline, hopefully, in our in mind, q3 product launch I'll, be able to show you something amazing again with these new products. Okay, so thank you. So much for watching this presentation. If you got any questions again, we can now start doing the AMA all right. Thank you guys. You well thanks. So much guys welcome back your live chat right now, then. Thank you so much for that. Overall, three products: the live, chat, going a little crazy, we're, getting messages, beginning it's long going crazy right now with questions let's just do something: let's talk about the three products which is you just announced real, quick, just a quick overview, USDM perpetual contract, one, the contract Insurance option all right, crazy stuff going on there and last but not least, a strategy alert and the auto orders disk. Now there are a few questions that we have I'm just going to run my quick to young sun. What our private looking about his by but looking to add for margin trail actually, along with I mean that's, a very good question, because we get so many clients requests anymore out coins our biggest challenge before it was because the inverse contract we actually have to think A lot about the security issues and we have to hold those coins and some of these all coins don't have cold storage, so it makes it very challenging for us to make sure the security part of the coin.
But with the launch of this USD T, perpetual, we are able to launch a few more out points, so we actually, I think you know, maybe launching three more, but we are going to do. Obviously, some community surveys asking our clients. What do they really want and then we will decide what coins to launch and I'll obviously make sure that they get good liquidity and there are proper, tradable pairs, yeah gates, any plans for buy Bitcoin, not at the moment. We'Ve been asked with this question since the very beginning of the launching of buy bids. Are you going to launch a coin until we really figured out? What does this coin essentially do other than just a discount feature or a sort of a coupon feature or a point system, so we really want to make sure that the coin is really good for the ecosystem and otherwise, when we before we sink this whole thing Through I think we want to be very careful with with any point or releases yeah, so Jay City, he asked the explaining and you buy insurance feature if you just give them a quick overview on that, although we just had the presentation, try just yeah yeah, I Guess I want to add a few more points: it's. The insurance is designed to cover the loss on the margin, but clients is able to choose to close out their insurance anytime. They want so, for example, even if they are holding a position and at some point either their the insurance is making profit or their actual positions making profit, and they want to close out the insurance.
They are able to do so so and that's a very easy function, and also this is the only first version we are going to build our much more on the insurance feature, but, along with that later on, we are going to issue a simplified option, product which Is a standalone with full older book by selling, and also, I think I saw some people asking about the liquidity part who is providing liquidity is gon na be completely transparent. We invite the market makers for option to come in, give us pricing and provider qualities, but we will make it simpler. We will make it actual. People can actually understand it and how to buy and sell, especially our for our retail clients, so that's the plan yeah. How do you do that? You can have an education platform associated with walking through that yeah that's for sure we would need to make some articles and videos, but really the most important is to make the product simple. No, they say, keep it simple so and I Kate want to know: if will Vivian use, funding options, the new BTC us et a funding option? Yes, so obviously each perpetual contract would have his own funding. You know, funding mechanism depends on the buying selling power within the market, so it would have that as any truly with a regular linear contract or not so yeah. We will have that. Okay, what flat we have. This from excuse me on this last one hello.
All rod, though I'm screwing, the name on that I'm so sorry wants to know the platform be available in Portuguese, Portuguese, okay, interesting we're, actually adding a bunch more languages. I think we are working on Viennese Indonesian, Thais, Spanish and Turkish, so we're, adding these five Portuguese. I'M, not sure, if is in this plan, for this quarter, but maybe for next quarter for sure yeah. We have a new one Adam, seeing interesting to see what regulation says to all exchanges in the upcoming years and what then thinks about that? Yeah I mean regulation is definitely but at the moment there still isn't any regulation or any license. We can obtain for a perpetual contract platform like by bit, but if there is one available we are happy to comply. Are we actually trying to apply for a Singapore license, but I want a Fiat to point a business part, but we would like to obtain us, since we are the headquartered in Singapore other than that. If there is a very strong regulation coming out, we would definitely be the first one to see if we can apply some license and not only for good for marketing. This is also good for the long run of the business yeah. You have another question from air drop hot. What are your goals expected for the by big release? The perpetual contractor USD T? Will your those our goal is to take the market by the storm? Okay, because we spend a lot, we spent a long time building this product and we obviously included.
I would say three core features into this linear or USD T perpetual contract number. One being that you can actually do. Hedge trading number two is a portfolio margin and number three is that we incorporated many new on chart training functions so with that it's really two better. We want to make a better tool for the traders be able to make better trades on by bit. Yeah and we're talking about trades. What are your fees for the professional swap the for the linear one? It would be the same as the universe one, so that would be zero point: two: five percent for the makers: that's, a rebate and 0.75 fees for the takers. I also I would like to add, I think many people are asking when is it launching its launching tomorrow so it's? Actually, tomorrow it will be in our read net and you can try it but it's better, so it might have some bugs. We actually also launched a new bug, reporting program called the mvf, the most valuable feedback err, and we would like to collect all your great feedbacks. You can find some box we'll, give you some bounties, please come try it out. We'Re. Also gon na run some crazy promotions, so initially the first few months, people work and I pay very low fees and even get to airdrop bonuses and all that to try our linear contract. Also you make so everyone right now in the chat should absolutely start.
Taking advantage of that, we provide the links for you guys to make sure, with the with the code, to take manage everything happening before you, because I know you have a lot more announcements. Somebody can talk about some knife, but let's do this? What advice this is coming from: Tosh burr what's your advice for someone who starts using perpetual swaps for the first time. This is advice for any new traders is to don't think of profit as a priority. Your priority is to risk management or to save him in your asset, so be very careful and always use stop loss at proper risk management imbibe it we emphasize so much risk and that's why we offered such an easy function to set up stop loss, and even This new insurance option is built for clients to have a better way to properly risk management themselves, so risk management is the key. I just you know always have that in mind. Yeah. We have one more question for you, this one I do play. Are you planning to significantly increase your fees after the trial after the first three months? No, like I said the fees are standard just like in verse contract, but for the initial period we are going to run some crazy promotions, so people can actually try the product out yeah. So we increase our fees for sure yeah. What other exciting notes do we have for us right now and other than those you would love for our YouTube audience to know about, I would say, stay tuned to our new product.
Even everyone know that we hold a very big competition back in December last year. We are going to probably hold another one in June, so we're expecting something bigger and also some new product will be coming out in June, along with the competition, so stay tuned and obviously today is allowed to take we're launching three different products. I would love for any of our clients to try it out and give me some good feedbacks and yeah. We will really excited for that yeah. Just one one. Last word: people are still they're still pinging you're still hanging in man. I, what I'm sorry can she go so quickly right now, yeah ya, know what more about the signal to traders this this! You know you have this platform where you're alerting folks. They want to know more about that. How do they get lured? Is this a gamified platform? How does this? How did this signal alerts you know for your trade? You tell us a little bit more about that. Yeah. The the strategy alert will be updated into our. I believe either the next or the next release in our mobile app, so anyone can get it. It is by the way all of our all of the product we launched today is free for all. We don't have any. You know VIP system that some clients get something some everyone is treated equally. Everyone is get the best service. We could possibly offer so yeah, I mean once it's ready, you will be released into the mobile app and you just have to download and upgrade your mobile app in App Store or Android Google Play and get it yeah.
Yeah yeah any see our on ramp. I want to purchase Bitcoin on vibe it easily to your credit card. Actually, we talked to. We are talking to three different RM providers. We actually already started the implementation, hopefully within a month or so, we will be able to offer some fiat RM options and you can buy bitcoins with your local, local transfer or credit card functions so that will be available within you know: oh that's, fantastic yeah, JJ, Civic again can be hedge, the existing contract airs, or is it only for us DT it's, currently only for the new us DP contract, our current old universe, contract, the UI, everything will stay, the same and Hugh the the new product is properly tested and debugged, and Then we will probably still run some survey to make sure that is this. What we're, gon na decline wants a because majority of our clients, I've seen 90 to 80 percent, are still trading on our current universe contract. We don't like to take thirty things that are used to away from them. So if we are going to offer anything new, maybe we will just add an out of the contract so and that's that the artist is speaking yeah. What this renamed some person yeah would like to know: that's the screen name. What would a liquidity you like on launch of the linear contracts for coin? Oh good question yeah. So this is a very important question.
If everyone knows that Babbitt is very careful in launching any product and – and even if you know now – we only have four different pairs. So when we prepare this product with the launching tomorrow, we made sure we get really good from all of our market makers that had been working with us. If anyone don't know our current liquidity for perpetual contract is already the top of in the world for especially for Bitcoin, if it's not a lot largest, so I believe for tomorrow the launch, the linear contract will have very good liquidity, so come check it out. We got some a lot of contract sign with our market makers, so yeah check it out. Yeah, you know questions about fees. These are the guys popping up right now, right for me all day, long Cameron Miller. Do you take these for funding rate transfers as they happen to erect leak, which mean users? No, we never take any fees between the funding rate transfers, it's, a simple transfer, direct from the buy to the sale or the sale to the by the exchanges. Don'T. Take any fees or anything within that process a lot Wow Wow! You are your fire over here yeah using these products. Actually one last thing: I don't think anyone asked because there is the hedging function between lines. Short us DT perpetual, if you are fully hedged, meaning that you have the same law and the same sort of the same contract, you will never get liquidated.
So this is something people had asked before. I just I don't think I've forgot to mention that in my presentation, but it's very important yeah, you can hedge long and short at the same time like the mobile uiux right now, oh yeah, tomorrow, along with the PC version, the USD T will be available in Our mobile app tomorrow as well so tomorrow, clients just need to upgrade their mobile app to get the latest USD T perpetual on their mobile, make it easier for everyone in the world right now yeah. I I can absolutely appreciate that confront from that product standpoint. You know a lot of the ways if you win is you're not just building fantastic product but you're. Actually, listening to the consumer and people get a loss and what everyone else is doing, but the consumers, but was gon na, tell you what they want and how to make a better product and he has to conceive done a fantastic job of doing so far. We always commend you on doing a great job of that is there? Are there any other? Last words, when the lead with the audience with late, I can't even say that, because we get it the instant, I want to say, hey let's talk a little bit more about it. Things happening someone pops up. Another question: Miriam Schulze, the corona crash had both the traditional and crypto market firmly in its grip in recent weeks. We please excuse me how has the actual situation affected, for example, with trading volume on by bit? If you just talk about numbers, our trading average trading volume has actually grown same as our clients, active traders.
So all number all France has grown and been growing from by but perspective. This is due to a number of reasons. Number one is: we are a derivative exchange. So as long as this big price movement, clients tends to come to, you know, exchange like baby to trade and to take advantage of the of the price movement, so either it's a crash or it's a spike. Whatever I mean in these couple of weeks, we've seen some crazy movement, so whenever movement happens, class and so where's the volume and so as active users and all that yeah. So as far as what numbers we actually haven't been affected, so much yeah. So we talked a little bit about you know: regulation legislation, sir Frank to Jay. What are your future plans for kyc? So far, we don't have any solid plan, but we are going to implement a sort of a QIA on institution only so for big API trading firms, we're actually going to be required, a sort of kyc from them, and this is actually a request coming from them. They said they would like to get KY seed because, especially they they need to face their regulators and their clients, and so we are actually going to implement them as a risk management rule. But as far as for general public and for our clients, there isn't any plan at the moment for the queue I see yeah. This is from crypto Phoenix if there's, by bit, planning is by the planning for sub account good question, and yes, this is also a very requested function.
We already have that in pipeline, we are going to design an interim much complex product. I'Ll tell a little bit briefly here: not only a sub account feature that it also involved a multi terminal sort of feature. If you are used to first trading, and also we were trying to hope to solve the need for a fund manager and also the fund managers account, so there's will be some type of even follow trade copy trading going on, but I'm not going to disclose that. For too much because there's a whole different game and there will be in another product launch that I'm going to discuss, but rest assured sab account feature is coming up. I would say: probably two months yeah two months: yeah wow that's me that's that's, really good news and we have another one from Cameron Miller. Do you have auto deleveraging? Oh yes, we all of our products are coming with auto dealer merging as a standard idea and also, if you saw my present, my showcasing of the USD key perpetual. There are some lights showing you where you are on the queue yeah yeah now. Can you give some examples of successful trades on bi bit examples of successful trades? What do you mean like we're? Coming sorry, cool trade? Look like what is the size. I mean it comes to our shape and forms, and I mean we are sort of the executioner for trades and we match different odors.
So I guess most if you asked, who is long term in profitability from our data, is normally someone who is used proper risk management again and also not so high leverage, yeah yeah, at least with the liquidation mechanisms and deleveraging, with the same for linear contracts, contracts As it is for perpetual yeah, it will be exactly the same. It will be exact the same mechanism. Yeah, listen, then I cannot thank you enough. It'S gon na conclude our portion of the a a stream, so I really cannot. Thank you enough. Thank yous a bit by stopping by and letting us know exactly what's going on. Please do me a favor and let me know when you have more products, give me a buzz. You know I love chatting with you all the time and seeing this going on. Do a deep dive into product a little bit later, but I cannot think thank you. The coin seller grab audience if YouTube everyone for joining us, then any time you can stop by please stop by and join us again. Thank You Steven. It was a pleasure talking to you and thank you for telling us thank you, everyone for witnessing and participating this really significant event of for Babbitt. Thank you, everyone. Thank you.