WorldCoin is soon available for trading on BitMEX via a new listing – WLDUSD, with up to 50x leverage, making this new contract one of the highest max position sizes in the industry.
WLDUSD will begin trading on BitMEX on 25 July 2023 at 04:00 UTC.
What is WorldCoin?
The Worldcoin token (WLD) is the token behind the Worldcoin project, which aims to create a new identity and financial network owned by everyone.
After visiting an Orb, a physical biometric verification device, an individual can receive a privacy-preserving digital identity called World ID. This lets you prove that you are a real and unique person online while remaining private through zero-knowledge proofs. All Orb-verified World IDs holders can claim their grants of free WLD tokens (where available) and you can interact with the Worldcoin project by downloading the World App.
For more information about the project, you may visit their website and read the whitepaper: https://worldcoin.org/
WLDUSD Quanto Contract Spec
As with all quanto contracts, the WLDUSD contract has a fixed Bitcoin multiplier, regardless of the WLDUSD price. This allows traders to long or short the WLDUSD exchange rate without ever touching WLD or USD.
Traders can post margin in XBT, and earn or lose in XBT as the WLDUSD rate changes.
This quanto risk premium may be one of the factors that results in the WLDUSD swap trading at a premium/discount to the WLDUSD spot price.
Key Contract Details for Our WLDUSD Listing:
Symbol: WLDUSD
Margin Currency: XBT
Bitcoin Multiplier: 0.0001 XBT (10,000 Satoshis)
XBT Contract Value: WLDUSD Price * Bitcoin Multiplier (10,000 Sat / 1 USD)
Underlying: .BWLD
Tick size: 0.001
Max Leverage: 50x
Risk limit: 50 XBT
Maker Fee: 0.02%
Taker Fee: 0.075%
Base Initial Margin: 2.00%
Base Maintenance Margin: 1.00%
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