ENA, the upcoming governance token of Ethena, is now reside on BitMEX through a brand new Pre-Launch futures itemizing – ENAUSDTJ24.
ENAUSDTJ24 is Tether-margined and gives as much as 2x leverage. Buying and selling began here on 21 March 2024 at 09:00 UTC.
For a deeper take a look at our new Ethena itemizing, learn on.
In the event you haven’t signed up for a BitMEX account but, we’re at the moment providing as much as $5,000 in BMEX Tokens for verified users- you’ll be able to register here.
ENA Linear Futures Contract Specs
ENAUSDTJ24 is a linear futures contract, margined in USDT (ERC-20). It really works equally to an everyday futures contract however with some key variations (as detailed beneath).
ENA contract particulars:
- Image: ENAUSDTJ24
- Expiry Date: 26 April, 2024
- Margin forex: USDT
- Contract Dimension: 1 ENA
- Lot Dimension: 10
- Minimal Commerce Quantity: 10 ENA
- Underlying: .BENAT
- Max Leverage: 2x
- Maker Payment: -0.0175%
- Taker Payment: 0.25%
- Base Preliminary Margin: 50.00%
- Base Upkeep Margin: 25.0%
Key variations between our ENA itemizing and different futures contracts:
- Mark Methodology: Final Value
- Value Limits: Restrict Up and Restrict Down set hourly at Mark Value +/- 20%
- Settlement Value: .BENAT30M
- Auto Deleveraging: Enabled
This new itemizing is a extremely risky and speculative contract. Due to this, we’ve modified a number of objects:
- We’re utilizing Final Value marking as a result of there’s not but an observable value for ENA.
- To guard the market towards manipulation, we are going to use Restrict Up and Restrict Down costs, that are set every hour, on the hour, at Mark Value +/- 20%. Merchants won’t be able to position bids above the Restrict Up Value or place gives beneath the Restrict Down Value.
- The .BENAT index might be constructed by BitMEX when it’s doable for our staff to provide a strong index that represents the spot value of the ENA token. As soon as such an index exists, we might use our discretion to vary the Mark Methodology to Truthful Value. Till such an Index is created, the worth of .BENAT will be set to 0. If there isn’t any index constructed by the expiry date, the Settlement Worth might be 0.
- As with all crypto derivatives contracts traded on BitMEX, there’s a risk that auto-deleveraging will happen. Since this contract is solely speculative, the potential of auto-deleveraging is increased than on an everyday contract.
About ENA, the Ethena Token
Ethena is an artificial greenback protocol constructed on Ethereum that may present a crypto-native resolution for cash not reliant on conventional banking system infrastructure, alongside a globally accessible dollar-denominated financial savings instrument – the ‘Web Bond’.
Ethena’s artificial greenback, USDe, will present the primary censorship-resistant, scalable, and steady crypto-native resolution for cash achieved by delta-hedging staked Ethereum collateral. USDe might be absolutely backed transparently on-chain and free to compose all through DeFi.
ENA is the upcoming governance token of the Ethena venture. For a deeper take a look at the venture, go to their web site: https://www.ethena.fi/.
You may commerce the ENAUSDTJ24 futures contract here, or seek advice from the complete contract specs here.
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