Now Live: Pre-Launch Futures Contract for DBR with 2x Leverage

A new pre-launch futures contract for deBridge (DBR) token – DBRUSDTV24 – is now available to trade on BitMEX. The new listing is margined in Tether (USDT) and offers up to 2x leverage so you can long or short DBR before it’s listed on spot exchanges.

Trading for DBRUSDTV24 started here at 07:00 UTC on 15 Oct 2024.

 For details on the new Pre-Launch listing, read on.

If you haven’t signed up for a BitMEX account yet, we’re currently offering up to $5,000 in BMEX Tokens for newly verified users – you can register here.

DBR Linear Futures Contract Specs

DBRUSDTV24 is a linear futures contract, margined in USDT (ERC-20). It works similarly to a regular futures contract but with some key differences (as detailed at the bottom).

DBR contract details:

• Symbol: DBRUSDTV24
• Expiry Date: 25 October 2024    
• Margin currency: USDT
• Contract Size: 1 DBR
• Lot Size: 100
• Minimum Trade Amount: 100 DBR
• Underlying: .BDBRT
• Max Leverage: 2x
• Maker Fee: -0.0175%
• Taker Fee: 0.25%
• Base Initial Margin: 50.00%
• Base Maintenance Margin: 25.0%

You can trade the DBRUSDTV24 futures contract here, or refer to the full contract specs here. 

Key differences between our Pre-Launch listings and other futures contracts:

• Mark Method: Last Price
• Price Limits: Limit Up and Limit Down set hourly at Mark Price +/- 20%
• Settlement Price: .BDBRT30M
• Auto Deleveraging: Enabled

Pre-Launch futures are highly volatile and speculative contracts. Because of this, we’ve changed a few items:

• We are using Last Price marking because there is not yet an observable price for DBR.
• To protect the market against manipulation, we will use Limit Up and Limit Down prices, which are set each hour, on the hour, at Mark Price +/- 20%. Traders will not be able to place bids above the Limit Up Price or place offers below the Limit Down Price.
• The .BDBRT index will be constructed by BitMEX when it is possible for our team to produce a robust index that represents the spot price of the each token. Once such an index exists, we may use our discretion to change the Mark Method to Fair Price. Until such an Index is created, the value of .BDBRT is set to 0. If there is no index constructed by the expiry date, the Settlement Value will be 0.
• As with all crypto derivatives contracts traded on BitMEX, there is a possibility that auto-deleveraging will occur. Since this contract is purely speculative, the possibility of auto-deleveraging is higher than on a regular contract.

About DBR, the deBridge Token

DBR is the native token of deBridge, anticipated to start spot trading on 17 October. deBridge is a liquidity unlocking and cross-chain bridging DApp, aimed at providing a secure interoperability layer for Web3 that enables decentralised transfers of arbitrary messages and value between various blockchains.

The deBridge Foundation announced that DBR will start trading on 17 October.

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The post Now Live: Pre-Launch Futures Contract for DBR with 2x Leverage appeared first on BitMEX Blog.