Popular crypto derivatives exchange BitMEX, today announced it is introducing six new altcoin/Tether (USDT) quanto perpetual contracts to the platform in March.
New Contracts Include:
- Cardano (ADA)
- Polkadot (DOT)
- EOS (EOS)
- yearn.finance (YFI)
- Uniswap (UNI)
- Stellar Lumen (XLM)
The contracts will have spaced out launches thru March; starting with listing DOT and UNI at 04:00 UTC on March, 3. BitMEX will list two more from the list on March 10, and the remaining two on March 17.
Note, DOT and UNI are now available on testnet, along with the full specs for each contract.
BitMEX Quanto Contact Details
Quanto contracts have a fixed bitcoin (XBT) multiplier regardless of the USDT /underlying coin price. This allows traders to put on long or short positions without ever touching either the coin itself or USDT.
Traders post margin in XBT, and earn or lose XBT as the rate changes. This quanto risk premium may be one of the factors which result in the swap trading at a premium/discount to the spot price.
