USDT Contract is a digital currency contract that uses USDT as both quote currency and settlement currency. Currently, our USDT Contract supports two-direction contract trades including BTCUSD, EOSUSD, etc., and provides multiple leverages. It is aimed at replicating the underlying spot market but with enhanced leverages. This product does not have an expiry date and is able to closely track the underlying reference Price Index through a tethering mechanism.
USDT, as both the quote currency and settlement currency, is the only asset that exists in your USDT Contract Account. You can use it to trade BTCUSD and other digital contracts directly, which can reduce the loss in multi-currency exchanges. Of course, your profit is also settled by USDT.
Compared with BTC, EOS and other digital currencies, which may result in the increase in currency amount and the decrease in value of assets due to digital currency depreciation, USDT is relatively stable in the long term run. As both the quote currency and settlement currency, USDT can reduce the abovementioned risk in transactions.
Like Digital Perpetual Contract (Perpetual Contract/Swap), USDT Contract does not have an expiry date and thus do not have a settlement.