A new listing featuring – FTM – the token of Fantom – a layer one smart contract platform, will be available to trade on BitMEX, and with up to 10x leverage from tomorrow. 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.
FTMUSD Quanto Contract Specs
As with all quanto contracts, the FTMUSD product has a fixed Bitcoin multiplier, regardless of the FTM/USD price. This allows traders to long or short the FTM/USD exchange rate without ever touching FTM or USD.
Traders can post margin in XBT, and earn or lose in XBT as the FTM/USD rate changes.
This quanto risk premium may be one of the factors that results in the FTMUSD swap trading at a premium/discount to the FTMUSD spot price.
Key contract details for our FTM token listing:
- Symbol: FTMUSD
- Margin Currency: XBT
- Bitcoin Multiplier: 0.0001 XBT (10,000 Satoshis)
- XBT Contract Value: FTMUSDPrice * Bitcoin Multiplier (10,000 Sat / 1 USD)
- Underlying: .BFTM
- Max Leverage: 10x
- Risk limit: 50 XBT
- Maker Fee: 0.02%
- Taker Fee: 0.075%
- Base Initial Margin: 10.00%
- Base Maintenance Margin: 5.00%
You will be able to trade the FTMUSD perpetual contract here, or refer to the full contract specs here.
About (FTM) – the Fantom Token
FTM is the in-house token of Fantom – a directed acyclic graph (DAG) smart contract platform that provides decentralised finance (DeFi) services to developers using its own bespoke consensus algorithm. Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed. It was created as an alternative to Ethereum. Fantom’s goal is to overcome the limitations of previous generation blockchains and balance three components: scalability, security and decentralisation.
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