STRK, the native token of Starknet, Ethereum’s L2 validity rollup, is listed on BitMEX via a new Tether Margin Futures listing. STRKUSDTG24. The Starknet Foundation is launching the first round of the Starknet Provisions Program and will be airdropping claimable Starknet tokens (STRK) to the community on February 20th at 12:00 UTC.
STRKUSDTG24 is offered with Tether margin, up to 2x Leverage. Trading is expected to begin around 12:00 on February 20, 2024. UTC.
Read on for a closer look at the new Starknet listings.
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Introducing STRK, the Starknet token
Starknet is a permissionless decentralized Validity-Rollup, also known as ZK-Rollup. It operates as an L2 network over Ethereum, allowing any dApp to achieve unlimited scaling for computation without compromising the composability and security of Ethereum by relying on STARK, the most secure and scalable cryptographic proof system on the Starknet.
STRK Linear Futures Contract Specification
STRKUSDTG24 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).
STRK contract details:
- symbol: STRKUSDTG24
- Expiration date: February 23, 2024
- Margin currency: USDT
- Contract size: 1 strong
- Lot Size: One
- Minimum transaction amount: 1 strong
- underlying: .BSTRKT
- Maximum leverage: Twice
- Maker Fee: -0.0175%
- Taker Fee: 0.25%
- Default initial margin: 50.00%
- Default maintenance margin: 25.0%
The key differences between the STRK 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: .BSTRKT30M
- 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 STRK yet, we are using the close indicator.
- To protect against market manipulation, we use price caps and floor prices set at +/- 20% of the hourly regular price. Traders cannot bid above the ceiling price and cannot make offers below the ceiling price.
- that much .BSTRKT When it is possible for our team to create a robust index representing the spot price of STRK tokens, 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 .BSTRKT 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. STRKUSDTG24 futures contract hereOr see full contract specifications. here.
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