BitMEX launches Status token (SNT) futures ahead of ICO

Cryptocurrency derivatives exchange BitMEX continues to add select altcoins to its futures contract listings. After adding QTUM last week, the company announced today the launch of Status futures contracts, expiry 28 July 12:00 UTC with symbol SNTN17. Each contract is worth 1 SNT and the contract offers 2x leverage.

Status is an open source messaging platform and mobile browser to interact with decentralized applications that run on the Ethereum Network. It is scheduled for an ICO at 14:00 UTC on June 17, 2017. The Status whitepaper draft with more information on the application is available for download.

SNT will be used to power the Status Client, including:

– Governance of the Status Client
– A Decentralized Push Notification Market
– Username Registration using ENS
– Community Curation of Content, powered by UserFeeds.io
– Fiat-to-crypto ‘Teller Network’
– DApp Directory
– Sticker Market
– Access to new features such as Tribute to Talk
– Powering the Status User Acquisition Engine

On BitMEX, the SNT derivative is in the form of a futures contract and allows traders to speculate on the future value of the Status/Bitcoin (SNT/XBT) exchange rate. Traders need not have Status to trade the futures contract, as it only requires bitcoin as margin.

Since the Status platform is still under development, the following rules will apply:

Further details about this contract can be read in the BitMEX SNT Series Guide.