A brand new Pre-Launch futures contract for IO (IO.NET) – IOUSDTM24 – is now accessible to commerce on BitMEX. The brand new itemizing is margined in Tether (USDT) and gives as much as 2x leverage so you may lengthy or brief IO earlier than it’s listed on spot exchanges.
Buying and selling for IOUSDTM24 began here at 10:00 UTC on 6 June 2024.
For particulars on the brand new Pre-Launch itemizing, learn on.
If you happen to haven’t signed up for a BitMEX account but, we’re at present providing as much as $5,000 in BMEX Tokens for newly verified customers – you may register here.
IO Linear Futures Contract Specs
IOUSDTM24 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 on the backside).
IO contract particulars:
- Image: IOUSDTM24
- Expiry Date: 28 June 2024
- Margin forex: USDT
- Contract Dimension: 1 IO
- Lot Dimension: 1
- Minimal Commerce Quantity: 1 IO
- Underlying: .BIOT
- Max Leverage: 2x
- Maker Payment: -0.0175%
- Taker Payment: 0.25%
- Base Preliminary Margin: 50.00%
- Base Upkeep Margin: 25.0%
You may commerce the IOUSDTM24 futures contract here, or seek advice from the complete contract specs here.
Key variations between our Pre-Launch listings and different futures contracts:
- Mark Methodology: Final Worth
- Worth Limits: Restrict Up and Restrict Down set hourly at Mark Worth +/- 20%
- Settlement Worth: .BIOT30M
- Auto Deleveraging: Enabled
Pre-Launch futures are extremely unstable and speculative contracts. Due to this, we’ve modified just a few gadgets:
- We’re utilizing Final Worth marking as a result of there’s not but an observable worth for IO.
- To guard the market towards manipulation, we’ll use Restrict Up and Restrict Down costs, that are set every hour, on the hour, at Mark Worth +/- 20%. Merchants won’t be able to put bids above the Restrict Up Worth or place gives beneath the Restrict Down Worth.
- The .BIOT index might be constructed by BitMEX when it’s attainable for our crew to supply a strong index that represents the spot worth of the every token. As soon as such an index exists, we could use our discretion to alter the Mark Methodology to Honest Worth. Till such an Index is created, the worth of .BIOT is set to 0. If there is no such thing as a index constructed by the expiry date, the Settlement Worth might be 0.
- As with all crypto derivatives contracts traded on BitMEX, there’s a chance that auto-deleveraging will happen. Since this contract is solely speculative, the potential for auto-deleveraging is larger than on an everyday contract.
About IO, the IO.NET Token
io.internet Cloud is a state-of-the-art decentralized computing community that permits machine studying engineers to entry scalable distributed clusters at a small fraction of the price of comparable centralized companies.
IO is the upcoming native token of IO.NET, and its first airdrop snapshot was accomplished on 25 April which shares the allocation of IO tokens to eligible members upon the official launch which is anticipated to happen within the first half of 2024.
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