As of 24 April 2024, a new Pre-Launch futures contract for Renzo (REZ) is available to trade on BitMEX.
REZUSDTK24 started trading here at 06:00 UTC. The new listing is margined in Tether (USDT) and offers up to 2x leverage – allowing users to long or short REZ before it’s listed on spot exchanges.
For details on the new REZ Pre-Launch 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 newly verified users – you can register here.
REZ Linear Futures Contract Specs
REZUSDTK24 is a linear futures contract, margined in USDT (ERC-20). It will work similarly to a regular futures contract but with some key differences (as detailed at the bottom).
REZ contract details:
- Symbol: REZUSDTK24
- Expiry Date: 31 May 2024
- Margin currency: USDT
- Contract Size: 1 REZ
- Lot Size: 10
- Minimum Trade Amount: 10 REZ
- Underlying: .BREZT
- Max Leverage: 2x
- Maker Fee: -0.0175%
- Taker Fee: 0.25%
- Base Initial Margin: 50.00%
- Base Maintenance Margin: 25.0%
You can trade the REZUSDTK24 futures contract here, or refer to the full contract specs here.
Key differences between our Pre-Launch listings and other futures contracts:
- Mark Method: Last Price
- Price Limits: Limit Up and Limit Down set hourly at Mark Price +/- 20%
- Settlement Price: .BREZT30M
- Auto Deleveraging: Enabled
The Pre-Launch futures are highly volatile and speculative contracts. Because of this, we’ve changed a few items:
- We are using Last Price marking because there is not yet an observable price for REZ.
- To protect the market against manipulation, we will use Limit Up and Limit Down prices, which are set each hour, on the hour, at Mark Price +/- 20%. Traders will not be able to place bids above the Limit Up Price or place offers below the Limit Down Price.
- The .BREZT index will be constructed by BitMEX when it is possible for our team to produce a robust index that represents the spot price of the each token. Once such an index exists, we may use our discretion to change the Mark Method to Fair Price. Until such an Index is created, the value of .BREZT is set to 0. If there is no index constructed by the expiry date, the Settlement Value will be 0.
- As with all crypto derivatives contracts traded on BitMEX, there is a possibility that auto-deleveraging will occur. Since this contract is purely speculative, the possibility of auto-deleveraging is higher than on a regular contract.
About REZ, the Renzo Token
Renzo is a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer. It is the interface to the EigenLayer ecosystem securing Actively Validated Services (AVSs) and offering a higher yield than ETH staking.
Renzo is a Binance Launchpool project and the spot is expected to launch on 30 April 2024 at 12:00 UTC.
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