ETHFI, the native token of liquidity re-staking protocol ether.fi, is listed on BitMEX through a new pre-launch futures listing. ETHFIUSDTH24. Ether.fi is a Binance Launchpool project and is scheduled to begin trading on March 18, 2024.
ETHFIUSDTH24 is offered with Tether margin, up to 2x Leverage – displays the first pre-launch futures listing for ETHFI on the market. Transactions are expected to commence on March 14, 2024. 04:00 UTC.
You can trade. ETHFIUSDTH24 futures contract hereOr see full contract specifications. here.
Read on to take a closer look at the new ether.fi listing.
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ETHFI linear futures contract specifications
ETHFIUSDTH24 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).
ETHFI contract details:
- symbol: ETHFIUSDTH24
- Expiration Date: March 29, 2024
- Margin currency: USDT
- Contract size: 1 ETHFI
- Lot Size: One
- Minimum transaction amount: 1 ETHFI
- underlying: .BETHFIT
- 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 ETHFI 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: .BETHFIT30M
- 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 ETHFI yet, we are using the last 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 .BETHFIT When it is possible for our team to create a robust index representing the spot price of the ETHFI 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 .Bestfit 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.
Introducing ETHFI, the ether.fi token
Ether.fi is Ethereum’s native liquid re-staking protocol and is scheduled to launch on Binance Launchpool on March 14, 2024.
ETHFI is the native token of the protocol and will be distributed to community members upon token launch, more specifically to holders of eETH (Ethereum staked on ether.fi). In total, approximately 40% of the ether.fi token supply is distributed to the community in the form of community allocations, grants, and emissions.
To learn more about the project, visit their website. https://www.ether.fi/.
You can trade. ETHFIUSDTH24 futures contract hereOr see full contract specifications. here.
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