This afternoon, three new IEO pre-futures contracts will be launched on BitMEX: AEVO (Aevo), PARCL (Parcl), and Wormhole (W). All listings operate on Tether margin and offer up to 2x leverage.
Trading is scheduled to begin on March 5, 2024 at 09:00 UTC. Read on to learn more about the new pre-IEO 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.
AEVO Linear Futures Contract Specification
AEVOUSDTZ24 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 (detailed below).
Aevo contract details:
- symbol: AEVOUSDTZ24
- Expiration date: December 27 2024
- Margin currency: USDT
- Contract size: 1 year old
- Lot Size: One
- Minimum transaction amount: 1 year old
- underlying: .BAEVOT
- Maximum leverage: Twice
- Maker Fee: -0.0175%
- Taker Fee: 0.25%
- Default initial margin: 50.00%
- Default maintenance margin: 25.0%
AEVO, Introducing the Aevo Token
Aevo is a high-performance, options-focused decentralized derivatives exchange. The exchange runs on a custom EVM rollup that rolls up to Ethereum. Aevo operates an off-chain order book with on-chain settlement. This means that when an order is matched, the transaction is executed and settled via a smart contract.
AEVO is Aevo’s native token that can be used for staking and governance of the Aevo DAO. This gives holders the right to express their preferences within the scope of the DAO and in the manner described herein.
You can trade. AEVOUSDTZ24 futures contract hereOr see full contract specifications. here.
PARCL Linear Futures Contract Specification
PARCLUSDTK24 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 (detailed below).
Parcl contract details:
- symbol: PARCLUSDTK24
- Expiration date: May 31, 2024
- Margin currency: USDT
- Contract size: 1 farkle
- Lot Size: One
- Minimum transaction amount: 1 farkle
- underlying: .BPARCLT
- Maximum leverage: Twice
- Maker Fee: -0.0175%
- Taker Fee: 0.25%
- Default initial margin: 50.00%
- Default maintenance margin: 25.0%
Introducing PARCL, the Parcl Token
Parcl is a decentralized real estate trading platform. Parcl provides city indices that allow you to estimate price movements in real estate markets around the world.
PARCL is the native token of Parcl. PRCL holders will be able to participate in the governance of the Parcl protocol as well as gain access to enhance its utility across data and transactions, including incentives within the protocol ecosystem.
You can trade. PARCLUSDTK24 futures contract hereOr see full contract specifications. here.
W Linear Futures Contract Specification
WUSDTZ24 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 (detailed below).
Wormhole Contract Details:
- symbol: WUSDTZ24
- Expiration date: December 27 2024
- Margin currency: USDT
- Contract size: 1W
- Lot Size: One
- Minimum transaction amount: 1W
- underlying: .BWT
- Maximum leverage: Twice
- Maker Fee: -0.0175%
- Taker Fee: 0.25%
- Default initial margin: 50.00%
- Default maintenance margin: 25.0%
Introducing Wormhole Token W
Wormhole is an open source blockchain development platform focused on interoperability connecting the decentralized web. The platform has four pillars: Messaging (for secure cross-chain transfers), Query (for pulling on-chain data into apps on any chain), Connectivity (for in-app bridge widget integration), and Gateway (for cross-chain transfers). Divided based on: liquidity and user growth).
W is the native token that holders can use to participate in the governance of the Wormhole Protocol.
You can trade. WUSDTZ24 futures contract hereOr see full contract specifications. here.
The key differences between pre-IEO 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: .BAEVOT30M / .BPARCLT30M / .BWT30M
- Automatic asset liquidation: activated
The new list is very unstable and Speculative contract. This changed a few things:
- For AEVO, PARCL, and W, we are using the closing price indicator because there are no observable prices yet.
- To protect against market manipulation, we use price caps and floor prices set at +/- 20% of the base price on the hour every hour. Traders cannot bid above the ceiling price and cannot make offers below the ceiling price.
- that much .BAEVOT, .BPARCLT, and .BWT When it is possible for our team to create a robust index representing the spot price of each 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 index is created .BAEVOT, .BPARCLT, and .BWT 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.
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