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Blog, Updates & News


New Funding System

4 weeks

Our funding system had several shortcomings and we’ve been considering several adjustments over the past couple of weeks. To mention a few:

  • The funding rate for the current interval was not fixed, meaning market makers had to compensate for this uncertainty with wider spreads.
  • The fixed funding step size meant that the funding rate would adjust very slowly even if the market conditions had drastically changed.
  • Even a very small constant offset of our mid price could result (over time) in the funding rate being maxed out.

To remedy these shortcomings we’ve made the following changes:

  • The funding rate for the current interval is now fixed.
  • The step size is now variable and proportional to the difference between the 1Fox and the index price, allowing our funding rate to adjust as slowly or rapidly as needed.
  • The new funding rate step size formula means that small offsets to the index price no longer accumulate and lead to a very high/low funding rates.

You can view the new funding rate formula and an example on how to calculate the next funding rate here: https://1fox.com/trade/#stats-funding-rates.

 

Here is the list of all changes introduced with this update:

  • Increased the maximum leverage for the BCHUSD market to 5.
  • Moved currency selector into sidebar on mobile version.
  • Order book chart now displays the correct base currency.
  • Fixed currency being displayed as “undefined” in OHLC chart.
  • Fixed floating point display issues in orderbook chart.
  • Order-create profit/loss calculator fields are not longer validated when creating an order.
  • Several minor improvements for the order-create profit/loss calculator.
  • Fixed a bug where referral payments for Bitcoin Cash were not paid out.
  • New field in market/get API call: current_funding_percentage and estimated_next_funding_percentage. (the redundant estimated_funding_percentage field will be removed with the next update!)
  • Fixed the profit/loss calculation for the take/profit and stop loss info boxes.

BCH/USD market is live

1 month

We are happy to announce that trading on our BCH/USD market is now live. All trades are settled in Bitcoin Cash (BCH). 1Fox is therefore the first platform to offer BCH-based perpetual derivative trading without settlements.

Symbol BCHUSD
Minimum Order Size 0.01 BCH
Maximum Leverage 3 (will be increased soon)
Funding -0.3% to +0.3% every 12 hours

 

BCH deposits and withdrawals are handled with our brand-new wallet infrastructure that supports both CashAddress and legacy addresses. If your wallet does not support the new CashAddress format yet, you can convert the 1Fox deposit address to the "legacy" address format with the CashAddress conversion tool.

During the coming weeks we will add more markets to 1Fox, so stay tuned.

Happy trading!


Multi-currency support and new profit/loss calculator

1 month

With the latest update, we finally added our multi-currency system. Furthermore we added a profit/loss calculator for the order create window. To improve our support ticket system, it is now possible to report support messages from our staff which were not helpful for you. For an overview of all other changes, here is the detailed changelog:

  • Added help texts and calculators for the stop loss and take profit field in position edit window.
  • New currency parameter for the following API calls: market/list, user/overview, user/get, user/deposit, user/transactions, position/history.
  • Fixed a bug in the position details profit loss window: If parts of the position were already closed and additional contracts were opened afterwards the simulated profit/loss was incorrect.
  • Access logs are kept longer now.
  • Switched to the new coinbase API.
  • Minimum withdrawal amount set to 0.0001 BTC.

Breaking API Changes

1 month

On Tuesday, July the 17th, we will deploy an update during our weekly market break. This update enables multi-currency support for our platform and therefore a currency parameter will be mandatory for certain API calls.
The following API calls are going to require the currency parameter:

  • user/get
  • user/overview
  • user/deposit
  • user/transactions
  • position/history

To avoid an interruption of your trading software after the update, you can already upgrade your application to include this parameter in your API calls. Here is an example: https://1fox.com/api/v1/user/overview.php?token=YOUR_API_TOKEN&pretty=true&currency=BTC

Additionally the WebSocket USER_USERID channel message will contain a currency field to call the corresponding user/overview method. Examples and a detailed documentation will be available once the update was deployed.


Minor improvements with latest update

2 months

Today we rolled out a short update with minor improvements. Read the changelog for all the changes:

  • The position details dialog now indicates if the position has been closed since the dialog was opened.
  • A new popup for the edit position dialog (accessible by clicking on Amount) now shows additional information about the position.
  • Added symbols parameter to user/dead_man_switch API call. Only orders from the specified markets are now affected by the dead man switch.
  • Fixed a bug in the websocket that could lead to crashes in rare cases.
  • Fixed slippage API error when volume parameter was used.
  • Multiple minor improvements.
  • Changed weekly market break to Tuesday 13:00 UTC

Major API improvements and estimated profit feature added

2 months

With our latest update, we implemented a “dead man switch” to protect trading bots when losing the connection to 1Fox. We also added a button in the user interface that calculates the estimated profit/loss with slippage depending on the current order book. Apart from that you can read about all the new API improvements and other changes in the detailed changelog:

  • Added a button to calculate the estimated profit/loss with slippage in the user interface. (Position details window => Profit/Loss)
  • Added a market/slippage API method that estimates the average execution price based on the trade volume.
  • Added a user/transactions API call.
  • Added a user/deposit API call to fetch an account’s deposit address.
  • The order/create API call now also returns the position ID.
  • Added the average price difference percentage for the current funding interval to the market/get call.
  • Renamed balance_offset to margin_offset in the position API.
  • The weekly 15 minute trading break has been moved to Tuesday 12:00 UTC.
  • Added a filter for the transaction log in user interface and API.
  • Added a filter for the position history in user interface and API.
  • Fixed incorrect trade type in the target position (MERGE_SELL/MERGE_BUY) when merging two positions of the opposite direction.
  • Fixed a bug where emails could be delayed under certain circumstances.
  • Introduced modular CSS color scheming for consistent interface coloring. (Goodbye Internet Explorer)
  • Improved Two Factor Authentication reset logic.

Bitcointalk Signature Campaign

2 months

Today, we started a Bitcointalk signature campaign. 

If you make high quality posts and are a trusted member of the bitcointalk.org forum, you can earn money by using a signature that contains a link to our website!


For more information of how to participate, visit the announcement thread on Bitcointalk.


Added a guide and improved security features

3 months

With the latest update, we added a comprehensive guide, that contains useful information for 1Fox and lists basic trading strategies. This guide will be extended in the future. We also improved our security features, now it is possible to request a Two-Factor Authentication reset on the website. Here is the detailed changelog:

  • Added a guide
  • Redesigned and improved outgoing emails.
  • Each login from a new IP address now triggers a notification email.
  • It is now possible to request a 2FA reset on the website when access to the 2FA device was lost.
  • A “Resend SMS” button will appear next to smsTAN input fields after 30 seconds, which will resend an SMS from a different gateway.
  • Removed the ability to manually switch SMS gateway from the settings page.
  • Fixed the link to positions-history for certain notification types.
  • Login and Create Account links are not shown on mobile anymore when the current component is the login form.

Basic social features and Foxbot

3 months

The first basic social features have been implemented, from now on you can share your trades and comment on them.

Also, we published the Foxbot, a simple Market Maker bot and a documentation for its libraries. You can use it as a foundation to create your own market maker bot. Read all about it here:
https://1fox.com/?c=en/content/api-foxbot

For the rest of the changes, read the changelog:

  • Added double-click protection in order create dialog.
  • Added a profit/loss details dialog.
  • Only index prices for the current funding interval are used to estimate the next funding rate.
  • Increased max. limit/offset values for fetching historic index and funding data.
  • Increased max. depth/limit values for fetching the orderbook/last trades to 250.
  • Automatic login when 6 digits are entered in 2FA login input.
  • Increased financing stats duration in stats page to one month.
  • API Docs: API links are now clickable.
  • Fixed a critical race condition bug in the balance check script.
  • The current day is no longer included in the user count chart.
  • Only positive integers are from now on allowed as a channel ID for the websocket user channel subscription.
  • Fixed a critical bug where the authentication token was not deleted upon logout.
  • Added an unsubscribe link system for newsletter emails.
  • Replaced images on features page with better ones.
  • Fixed a coloring issue with some line charts.

The maximum leverage has been increased to 10!

3 months

Today we increased the maximum leverage for the BTCUSD market on 1Fox to 10.


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