KOR Protocol (KOR) perp is live on MEXC
USDT-M, up to 20x, also on KCEX, with a launch spike to 0.02626 that sold off
Key takeaway
KOR perp notes, from the official MEXC and KCEX contract APIs, 10:57 AM ET Nov 4: What it is: KOR Protocol pitches an onchain clearing layer for creative IP with three steps: Verify (provenance and rights registration), Route (agent-based matching of assets to buyers) and Settle (atomic payouts with revenue splits set at registration). Total supply is 10B KOR.
MEXC spot trading opened at 9:30 AM ET, and the perp at 9:42 AM.
MEXC: up to 20x, taker 0.02%, maker 0%. Last 0.02015 against a 0.02125 index. 24h range 0.01911-0.02626. Open interest about 194K contracts. Funding -0.02%, so shorts are paying longs. KCEX: listed at 9:04 AM, last 0.0202, range 0.01962-0.02375, but only about 13.5K USDT traded so far. MEXC is the deeper book.
Structure: the launch spike to 0.02626 sold off fast into the 0.0191 low, and price is now basing near 0.020, trading under the index.
Bias: SHORT while under 0.0215, with 0.0191 as the downside reference. Invalidation: 1h close above 0.0222.
Day-one risks: thin books, airdrop supply hitting the market, and negative funding that can fuel a squeeze. Size small. NFA
Bias: SHORT under 0.0215.
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