PIXEL, the native token of Ronin Network’s web3 game Pixels, is now tradable on BitMEX via the new Tether Margin Futures listing. PIXELUSDTG24. Pixel is a Binance Launchpool project and is scheduled to begin trading on February 19, 2024.
PIXELUSDTG24 is offered with Tether margin, up to 2x Leverage.
Trading for PIXELUSDTG24 on BitMEX began trading on February 8, 2024 at 10:00. UTC.
You can trade the PIXELUSDTG24 futures contract here or see the full contract specifications here.
Read on for a closer look at the new Pixel 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.
Pixel and PIXEL Token Information
Pixels is a social web3 game from Ronin Network. It offers a captivating open world game centered around farming, exploration, and creation.
PIXEL is the primary utility and governance token of the Pixels ecosystem. PIXEL allows users to mint NFTs, enjoy VIP passes, join guilds, and purchase premium in-game features.
PIXEL linear futures contract specifications
PixelUSDTG24 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).
PIXEL contract details:
- symbol: PixelUSDTG24
- Expiration Date: February 23, 2024
- Margin currency: USDT
- Contract size: 1 pixel
- Lot Size: 10
- Minimum transaction amount: 10 pixels
- underlying: .BPIXELT
- 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 PIXEL 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: .BPIXELT30M
- 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 PIXEL 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 base price on the hour every hour. Traders cannot bid above the ceiling price and cannot make offers below the ceiling price.
- that much .BPIXELT When it is possible for our team to create a robust index representing the spot price of the PIXEL 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 .Bpixelt 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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