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ORDI will arrive at BitMEX through a brand new itemizing – ORDIUSD, with as much as 50x leverage, making this new contract one of many highest max place sizes within the business.
What’s ORDI?
Ordinals (ORDI) is a cryptocurrency that operates with inscriptions written on the Bitcoin blockchain. Because of the ORDI protocol, data reminiscent of textual content, photographs, sound, and video could be written to the smallest unit of Bitcoin, satoshi. With a complete of two.1 quadrillion satoshis in Bitcoin, the Ordinals protocol opens up new use instances within the type of NFTs and tokens.
ORDIUSD will start buying and selling from tomorrow, 30 Might 2023 at 04:00 UTC.
For extra, learn on.
If you haven’t yet signed up for a BitMEX account, you can do so here.
ORDIUSD Quanto Contract Specs
As with all quanto contracts, the ORDIUSD product has a set Bitcoin multiplier, whatever the ORDI/USD worth. This permits merchants to lengthy or brief the ORDI/USD change price with out ever touching ORDI or USD.
Merchants can put up margin in XBT, and earn or lose in XBT because the ORDI/USD price modifications.
This quanto threat premium could also be one of many elements that leads to the ORDIUSD swap buying and selling at a premium/low cost to the ORDIUSD spot worth.
For a proof of the identical idea, check out this blog post referencing ETHUSD.
Key Contract Particulars for Our ORDIUSD Itemizing:
- Image: ORDIUSD
- Margin Foreign money: XBT
- Bitcoin Multiplier: 0.00001 XBT (1,000 Satoshis)
- XBT Contract Worth: ORDIUSD Worth * Bitcoin Multiplier (1,000 Sat / 1 USD)
- Underlying: .BORDI
- Max Leverage: 50x
- Danger restrict: 50 XBT
- Maker Charge: 0.02%
- Taker Charge: 0.075%
- Base Preliminary Margin: 2.00%
- Base Upkeep Margin: 1.00%
It is possible for you to to commerce the ORDIUSD perpetual contract here, or try the complete contract specs here.
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