Gate's New Quanto Perpetual Contract and Initial Launch of TENCENTHKD (Tencent Holdings 00700. HK), ZHIPUHK To enrich trading varieties and optimize user experience, Gate will add Quanto perpetual contracts and a stock section. TENCENTHKD (Tencent Holdings 00700. HK), ZHIPUHKD (Zhipu 02513. HK), MINIMASHKKD (MINIMAS-W 00100. HK), XIAOMIHKD (Xiaomi Group 01810. HK) Quanto perpetual contracts will be launched on July 21, 2026 at 16:30 (UTC+8), supporting 1-20 times long and short operations, with leverage ratios that can be selected at the time of placing an order. Quanto contracts are a type of futures product with a special structure, characterized by the pricing of the underlying asset using the local legal currency, while the exchange requires margin and the final profit and loss of the position are settled uniformly through another currency. Taking MINIMAX Hong Kong stock related contracts as an example, the underlying price is displayed in Hong Kong dollars on the Hong Kong Stock Exchange. However, when calculating margin occupancy and closing profits and losses, the platform will directly convert the Hong Kong dollar price into USDT for accounting based on the USDT: HKD=1:1 equivalent ratio. There is no foreign exchange step between Hong Kong dollars and USDT in the entire trading process. Relying on Quanto perpetual contracts, investors only need to hold USDT to directly participate in overseas stock derivatives trading denominated in local currencies such as Hong Kong stocks. Although the contract market page displays the original price of local currency targets such as Hong Kong dollars, users use USDT to execute margin and liquidation settlement profits, without the need for early exchange rate conversion. At the same time, it can also isolate additional exchange gains and losses caused by exchange rate fluctuations, avoiding the impact of exchange rate fluctuations on stock trading profits. Quanto perpetual contracts and USDT based perpetual contracts maintain consistency in terms of profit and loss, transaction fees, and liquidation calculation formulas. Here is an example: A user buys 10 TENCENTHKD multiple orders at an average price of 400, and closes the position after the price rises to 500. Transaction fee (assuming a rate of 0.05%)=nominal position value x rate=400 x 10 x 0.05%=2 USDT. A fee of 2 USDT is required when opening a position. Fund fee (rate 0.01%) Fund fee=nominal position value x rate=400 x 10 x 0.01%=0.4 USDT Fund fee to be paid per period. When the maintenance margin (margin rate of 1%) price is 400, the maintenance margin=nominal position value x margin rate=400 x 10 x 1%=40 USDT. During the holding period, the account must maintain at least 40 USDT of maintenance margin, otherwise a strong liquidation will be triggered. Realized profit and loss=(closing price opening price) × number of contracts=(500-400) × 10=1000 USDT. After closing the position, 1000 USDT will be directly settled into the contract account. The above numbers are only for calculation reference, and the specific transaction shall prevail.