Tomorrow, a new perpetual contract listing – TONUSD – featuring Toncoin – will be available to trade on BitMEX, with up to 20x leverage.
Trading for TONUSD will start at 04:00 UTC on 23 April 2024. You will be able to trade the new contract here.
For the lowdown on the latest listings, 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.
TONUSD Contract Specs
As with all quanto contracts, the TONUSD product has a fixed Bitcoin multiplier, regardless of the TON/USD price. This allows traders to long or short the TON/USD exchange rate without ever touching TON or USD.
Traders can post margin in XBT, and earn or lose in XBT as the TON/USD rate changes.
This quanto risk premium may be one of the factors that results in the TONUSD swap trading at a premium/discount to the TONUSD spot price.
For an explanation of the same concept, check out this blog post referencing ETHUSD.
Key contract details for our TON listing:
- Symbol: TONUSD
- Margin Currency: XBT
- Bitcoin Multiplier: 0.0001 XBT (10,000 Satoshis)
- XBT Contract Value: TONUSD Price * Bitcoin Multiplier (10,000 Sats / 1 USD)
- Underlying: .BTON
- Max Leverage: 20x
- Risk limit: 50 XBT
- Maker Fee: 0.02%
- Taker Fee: 0.075%
- Base Initial Margin: 5.00%
- Base Maintenance Margin: 2.50%
You will be able to trade the TON perpetual contract here, or refer to the full contract specs here.
About TON, The Open Network (TON) Token
The Open Network (TON) is a decentralized and open internet platform made up of several components: TON Blockchain, TON DNS, TON Storage, and TON Sites. TON Blockchain is the core protocol that connects TON’s underlying infrastructure together to form the greater TON Ecosystem.
Toncoin (TON) is the native token of the decentralized layer-1 blockchain, The Open Network (TON). The TON blockchain is an open-sourced internet platform, created by the community using a technology designed by Telegram.
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