Very soon, a new listing – POLYXUSDT – featuring POLYX – the native token of the Polymesh blockchain will be available to trade on BitMEX, and with up to 10x leverage.
For the lowdown on the latest listing, read on.
If you haven’t signed up for a BitMEX account yet, we’re currently offering up to $5,000 in BMEX Tokens for verified users- you can register here.
POLYXUSDT Contract Specs
POLYXUSDT is a linear perpetual swap, margined in USDT. This allows users to gain exposure to the price of the Polymesh blockchain token and trade it with leverage, without needing to have any POLYX holdings.
Key contract details for our POLYX token listing:
- Symbol: POLYXUSDT
- Margin Currency: USDT
- Contract Size: 1 POLYX
- Lot Size: 10
- Minimum Trade Amount: 10 POLYX
- Underlying: .BPOLYXT
- Max Leverage: 10x
- Maker Fee: -0.0175%
- Taker Fee: 0.075%
- Base Initial Margin: 10.00%
- Base Maintenance Margin: 5.00%
You will be able to trade the POLYXUSDT perpetual contract here, or refer to the full contract specs here.
What is POLYX?
POLYX is the fuel and native utility token of Polymesh – an institutional–grade permissioned blockchain built specifically for regulated assets. It is focused on streamlining antiquated processes and opening the door to new financial instruments by solving challenges around governance, identity, compliance, confidentiality, and settlement.
As the network’s designated utility token, POLYX provides access to a blockchain-based infrastructure and is designed for use within that ecosystem only. POLYX is used for paying transaction fees, as well as a whole range of other functions related to the network’s operations, such as signalling on governance proposals or staking on node operators.
It is a utility token under Swiss laws, based on guidance from the Swiss financial regulator FINMA.
As well as trade with 10x leverage, with our Maker rebate for Tether – margined contracts, users can now receive a rebate of 1.75bps when trading POLYXUSDT.
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