Three new listings – HSKUSDTX24, MEUSDTZ25, and USUALUSDTZ25, are now available to trade on BitMEX, all margined in Tether (USDT) and offers up to 2x leverage so you can long or short HSK, ME, and USUAL before they are listed on spot exchanges.
As of 09:00 UTC on 21 November 2024, you can…
For details on the new 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.
HSK Linear Futures Contract Specs
HSKUSDTX24 is a linear futures contract, margined in USDT (ERC-20). It works similarly to a regular futures contract but with some key differences (as detailed at the bottom).
HSK contract details:
- Symbol: HSKUSDTX24
- Expiry Date: 29 November 2024
- Margin currency: USDT
- Contract Size: 1 HSK
- Lot Size: 1
- Minimum Trade Amount: 1 HSK
- Underlying: .BHSKT
- 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 HSKUSDTX24 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: .BHSKT30M
- Auto Deleveraging: Enabled
ME Linear Futures Contract Specs
MEUSDTZ25 is a linear futures contract, margined in USDT (ERC-20). It works similarly to a regular futures contract but with some key differences (as detailed at the bottom).
ME contract details:
- Symbol: MEUSDTZ25
- Expiry Date: 26 December 2025
- Margin currency: USDT
- Contract Size: 1 ME
- Lot Size: 1
- Minimum Trade Amount: 1 ME
- Underlying: .BMET
- 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 MEUSDTZ25 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: .BMET30M
- Auto Deleveraging: Enabled
USUAL Linear Futures Contract Specs
USUALUSDTZ25 is a linear futures contract, margined in USDT (ERC-20). It works similarly to a regular futures contract but with some key differences (as detailed at the bottom).
USUAL contract details:
- Symbol: USUALUSDTZ25
- Expiry Date: 26 December 2025
- Margin currency: USDT
- Contract Size: 1 USUAL
- Lot Size: 10
- Minimum Trade Amount: 10 USUAL
- Underlying: .BUSUALT
- 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 USUALUSDTZ25 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: .BUSUALT30M
- Auto Deleveraging: Enabled
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 are not yet observable prices for HSK, ME, and USUAL.
- 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 .BHSKT, .BMET, and .BUSUALT index will be constructed by BitMEX when it is possible for our team to produce a robust index that represents the spot price of 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 .BHSKT, .BMET, and .BUSUALT are 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 HSK, the HashKey Group ecosystem token
HSK is the ecosystem token of HashKey Group, designed for use across all HashKey businesses, including global licensed exchanges, investment management, tokenization, and infrastructure services.
As an ERC-20 token with a capped supply of one billion (1,000,000,000), HSK serves as the native and gas token for HashKey Chain, a Layer 2 public blockchain. It also serves various functions across Layer2/3, Wallet, DApps, Games, Exchange, Investment Funds, and Staking.
Notably, HSK is not sold through private or public sales for fundraising, empowering the long-term growth of the ecosystem.
About ME, the Magic Eden token
ME is Magic Eden’s official token, it’s Solana-based and will likely allow holders to propose or vote on changes, upgrades, or adjustments to Magic Eden’s platform operations.
Magic Eden operates as a cross-platform NFT marketplace and Bitcoin decentralized exchange, that incorporates a self-custody crypto wallet, and cross-chain swaps, and integration of smart contracts and Automated Market Maker (AMM) pools. It ensures smoothness and security of transactions across different blockchain networks with Superdapp.
ME will be released over four years with a total supply of 1 Billion, the crypto community will receive 12.5% or 125M ME tokens in the airdrop set to happen in the upcoming few weeks, but the exact date is unknown for now.
About USUAL, the Usual token
USUAL is Usual’s native utility and governance token, and has a deflationary structure with mechanisms like buy-backs, and 90% of it is distributed to the community.
Usual is a decentralized Fiat Stablecoin issuer that created USD0, a stablecoin fully backed by short-term, liquid and risk-free assets, ensuring no exposure to banks or counterparty risks, while being composable, permissionless, and transparent within the DeFi ecosystem. USD0++ is the USD0 liquid staking token, distributing rewards in the form of USUAL tokens.
Usual is supported by a diverse network of angel investors and venture capital firms, such as Michael Egorov, the founder of Curve Finance, and Sam, the founder of Frax Finance, as well as Kraken Ventures, LBank Labs, Axelar, IOSG Ventures, flowdesk, etc.
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