The long-awaited Blur token airdrop has finally begun.
And that’s not all. From tomorrow at 04:00 UTC, users will be able to long or short the Blur token with up to 50x leverage via two new listings: BLURUSD and BLURUSDT.
The introduction of BLURUSD and BLURUSDT allows users to trade and speculate on the governance token of one of the biggest NFT projects – which has seen a surge in volatility (and trading activity) following yesterday’s airdrop.
For the lowdown on our upcoming Blur token listings, read on.
If you haven’t yet signed up for a BitMEX account, you can do so here.
BLURUSD Quanto Contract Specs
As with all quanto contracts, the BLURUSD product has a fixed Bitcoin multiplier, regardless of the BLUR/USD price. This allows traders to long or short the BLUR/USD exchange rate without ever touching BLUR or USD.
Traders can post margin in XBT, and earn or lose in XBT as the BLUR/USD rate changes. This quanto risk premium may be one of the factors that results in the BLURUSD swap trading at a premium/discount to the BLURUSD spot price.
For an explanation of the same concept, check out this blog post referencing ETHUSD.
Key contract details for our Blur token listing:
- Symbol: BLURUSD
- Margin currency: XBT
- Bitcoin Multiplier: 0.0001 XBT (10,000 Satoshis)
- XBT Contract Value: BLURUSD Price * Bitcoin Multiplier (10,000 Sat / 1 USD)
- Underlying: .BBLUR
- 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%
Users will be able to trade the BLURUSD perpetual contract here, and check out the full contract specs here.
BLURUSDT Linear Contract Specs
BLURUSDT is a linear perpetual swap, margined in USDT.
Key contract details for our BLUR token listing:
- Symbol: BLURUSDT
- Margin currency: USDT
- Contract Size: 0.001 BLUR
- Lot Size: 1000
- Minimum Trade Amount: 1 BLUR
- Underlying: .BBLURT
- Max Leverage: 33.33x
- Risk limit: 1 million USDT
- Maker Fee: -0.01%
- Taker Fee: 0.075%
- Base Initial Margin: 3.00%
- Base Maintenance Margin: 1.50%
Users will be able to trade the BLURUSDT perpetual contract here, or check out the full contract specs here.
What is the BLUR Token?
BLUR is the governance token of Blur, a new “NFT marketplace for pro traders”. The Blur token is ERC-20-based, and will have a maximum supply of three billion.
The launch of BLUR represents Blur’s strategy to actualise decentralised governance for its marketplace – and attract market share from its rivals (like OpenSea).
To be the first to know about our new listings, product launches, and giveaways, you can connect with us on Discord, Telegram, and Twitter. We encourage you to also check our blog regularly.
In the meantime, if you have any questions please contact Support.
Related
The post appeared first on Blog BitMex
