BitMEX Will List Chainlink (LINK), Tezos (XTZ) Futures Market
The crypto exchange giant BitMEX has announced that it will soon launch a new product for open-ended contracts, BitMEX announced on 4 Sep 2020. The cryptocurrency exchange announced the introduction of an EOS Token (EOS), Chainlink (LINK), Tezos (XTZ), and Cardano (ADA) Quanto Futures contracts.
A Quanto is a type of derivative in which the underlying is denominated in one currency, but the instrument itself is settled in another currency at some rate. Such products are attractive for speculators and investors who wish to have exposure to a foreign asset, but without the corresponding exchange rate risk.
USD pair accounts offer our users trading options through offers to better meet their needs. At the users’ request, the new and old coins in the USDT contracts better reflect the underlying position.
Also, the firm expanded there Quanto offering to all existing legacy coins supported following EOS Token, ChainLink(LINK), Tezos(XTZ), and Cardano(ADA)Futures. We are proud to provide our users with a wide range of trading options to meet their trading needs and plan to add several more Altcoin products to this list in the coming months.
With XTZ, LINK represents one of the most traded market capitalizations of all legacy coins. It will be the only Defi – Linked Contract on the market.
The last time BitMEX added a new token to its platform was in 2018, when it listed several legacy coin futures markets like Tron and BTC futures.
It has a fixed Bitcoin multiplier and allows traders to keep coins too long or short without holding the USDT of a particular currency. If the price of the future changes, the trader earns or loses XBT and posts a margin on it and profits or losses on other coins.
Although the contract combines the Quanto features for a permanent swap product with traditional futures contracts’ expiration and settlement. Bitcoin futures that expire quarterly at the end of the first quarter of each year or at any point in the future for a specified period.
