PORTAL, the native token of cross-chain gaming platform Portal, has been launched on BitMEX via a new Tether margin futures listing. PortalUSDTH24. The deal has started here Today, February 21, 2024, at 11:00 UTC.
PORTALUSDTH24 is offered with Tether margin, up to 2x Leverage.
Read on to take a closer look at the new portal listings.
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Introduction to Portal Token
Portal is a web3 gaming network that integrates games and gamers from various blockchain networks on a cross-chain token platform.
Portal’s technology provides gamer access and game distribution to a wide range of titles, paving the way for Web2 gamers to seamlessly transition to the Web3 world. PORTAL is the native utility and governance token of the Portal platform that users can use in-game, purchase NFTs, and use in the marketplace.
PORTAL Linear Futures Contract Specification
PortalUSDTH24 It will be a linear futures contract with margin in USDT (ERC-20). It works similarly to a regular futures contract, but there are some key differences (discussed below).
Portal Agreement Details:
- symbol: PortalUSDTH24
- Expiration date: March 29, 2024
- Margin currency: USDT
- Contract size: 1 portal
- Lot Size: One
- Minimum transaction amount: 1 portal
- underlying: .door
- Maximum leverage: Twice
- Maker Fee: -0.0175%
- Taker Fee: 0.25%
- Default initial margin: 50.00%
- Default maintenance margin: 25.0%
The main differences between PORTAL listings and other futures contracts are:
- Mark method: last price
- Price limits: Up and down limits are set hourly at +/- 20% of the average price.
- Payment price: .BPORTALT30M
- Automatic asset liquidation: activated
This new list is very unstable and Speculative contract. This changed a few things:
- Since there are no observable prices for PORTAL yet, we are using the final price indication.
- To protect against market manipulation, we use price caps and floor prices set at +/- 20% of the on-the-hour reference price every hour. Traders cannot bid above the ceiling price and cannot make offers below the ceiling price.
- that much .door When it is possible for our team to create a robust index representing the spot price of the PORTAL token, BitMEX will construct the index. If such an index exists, we may, at our discretion, change the presentation method to fair price. Until such an index is created, the value is .door It is set to 0. If no indices are created by the expiration date, the settlement value will be 0.
- As with all cryptocurrency derivatives contracts traded on BitMEX, automatic liquidation is likely to occur. This contract is purely speculative and therefore has a higher chance of automatic liquidation compared to a regular contract.
you can trade PortalUSDTH24 futures contract hereOr see full contract specifications. here.
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