About Kongcang

Kongcang is an independent futures risk education site. Its motto: learn not to blow up before you trade. This page lays out who we are, what we cover, what we don't, and how to read what you find here.

Who we are — and who we aren't

Kongcang is an independent third-party education site with no official affiliation to Gate / Gate.com whatsoever. We are not Gate, we don't speak for the exchange, and we have no authority to interpret or change any platform rule. Wherever anything on this site disagrees with Gate's official pages, Gate's official pages are what count.

Up front: Kongcang may earn a commission when someone signs up at Gate through our invite code (see the disclaimer for details). That gives us a commercial reason to want you to sign up, so read every line critically rather than treating it as disinterested advice.

What we cover

Kongcang does one thing: explain the mechanics and risk of crypto futures clearly. That means how perpetual futures work, going long and short, leverage, margin, liquidation, mark price, the funding rate, trading fees, and the fundamentals of risk management like stops, position sizing and demo trading.

We try to take each piece apart and explain it in plain language, so that someone new to futures can first understand what they're actually up against — instead of being talked in by a line like "high leverage, high returns".

What we deliberately don't do

• We don't give investment advice. Everything here is educational and is not a recommendation to anyone to buy or sell, nor financial or tax advice.
• We don't predict prices, call trades or pick coins. You won't find "this coin is about to pump" or "go long now" anywhere on this site.
• We don't promise returns or sell a sure thing. Futures are a high-risk derivative, leverage amplifies losses, and you can lose your entire principal. We're flatly against anyone calling it "easy money", "principal-protected" or "risk-free arbitrage".
• We don't make the decision for you. Whether to take part, how much to put in and what leverage to use are yours to decide, based on what you can afford to lose, and in line with the laws and regulations where you live.

About the byline

Our articles are signed "Lin Heng · the Kongcang editorial team". To be straight with you: Lin Heng is a pen name used by the Kongcang editorial team, not the real name of any one specific person. We use a single byline to represent the team's writing and editing so readers can recognise where the content comes from — that's all it is.

Because it's a pen name, we don't dress it up with any "personal credentials", and we'd ask you not to believe anyone who does. We don't invent degrees, claim any financial licence or qualification, show off trading records, or post profit screenshots. If you ever see content elsewhere flying the "Lin Heng" name alongside that kind of credential or track-record marketing, it isn't us — please treat it with suspicion.

What we want you to trust is the clarity and honesty of the content itself, and the sources we cite — not a manufactured persona.

Editorial principles

• Risk first. Whenever we explain a mechanism, we put "here's how it can cost you money" somewhere you can't miss it, not buried in fine print at the bottom.
• We don't hard-code numbers that change. Fees, maximum leverage, maintenance margin rates, funding settlement intervals and the like vary by platform and tier and get adjusted, so we describe them qualitatively and point you to "whatever Gate's official page shows", rather than pinning down a specific figure that could mislead you.
• We do not promise a benefit without evidence. Where an invite code appears, we direct readers to Gate's official page for final costs, whether any discount exists, its form and eligibility; this site promises neither a rate nor availability.
• Restrained language. No absolute promises, no piling on emotion — we try to write the way someone who got burned by futures and later figured it out would talk to you.

How we fact-check

For platform rules, protocol parameters or common definitions, we go back to primary or authoritative sources to verify wherever we can — typically Gate's own help and learn docs, Investopedia term entries, the official Ethereum documentation, and public block-explorer data. Where an article makes a factual claim, we list the corresponding links under "References" so you can check for yourself.

One thing to be clear about: platform rules and parameters in crypto change fast. The point in time we verified against is June 2026. By the time you read this, the specific numbers may already have changed — go by what Gate's page shows when you place your trade. Any errors we find are logged in the corrections.

Last updated

This page was last updated in June 2026. The site is still being expanded and revised; if our editorial principles change, we'll update this page to match.

For more, see Contact us, the disclaimer, the privacy policy and the corrections.