ENA, Ethena’s upcoming governance token, is now live on BitMEX via a new pre-launch futures listing. ENAUSDTJ24.
ENAUSDTJ24 is offered with Tether margin, up to 2x Leverage. Trading commenced on March 21, 2024. 09:00 UTC.
Read on for a closer look at the new Ethena listings.
If you haven’t signed up for a BitMEX account yet, we’re currently offering up to $5,000 in BMEX tokens to verified users. You can register here.
ENA Linear Futures Contract Specification
ENAUSDTJ24 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).
ENA contract details:
- symbol: ENAUSDTJ24
- Expiration date: April 26, 2024
- Margin currency: USDT
- Contract size: 1 this
- Lot Size: 10
- Minimum transaction amount: 10 This one
- underlying: .wet
- 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 the ENA listing 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: .BENAT30M
- Automatic asset liquidation: activated
This new list is very unstable and Speculative contract. This changed a few things:
- Since there is no observable price for ENA yet, we are using the final price indicator.
- 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 .wet Indices are constructed by BitMEX when it is possible for our team to create a robust index representing the spot price of ENA tokens. 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 .Benat is 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.
ENA Introduces Ethena Token
Ethena is a synthetic dollar protocol built on Ethereum that provides cryptocurrency-based funding solutions that do not rely on traditional banking system infrastructure, along with ‘internet bonds’, a globally accessible dollar-denominated savings vehicle.
Ethena’s synthetic dollar, USDe, will provide the first censorship-resistant, scalable, and stable cryptocurrency-based solution for funds achieved through delta-hedged staked Ethereum collateral. USDe is transparently supported on-chain and freely configurable throughout DeFi.
ENA is the governance token of the upcoming Ethena project. To learn more about the project, visit their website. https://www.ethena.fi/.
you can trade ENAUSDTJ24 futures contract here, Or see full contract specifications. here.
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