BitMEX has announced that the community will have access to the future listing of Arbitrum’s highly anticipated ARB token. It will be airdropped at 3:00 UTC, allowing token holders to be long or short the token with a maximum 20x leverage. The linear futures contract has been designated ARBUSDTM23, is margined in USDT and has nearly identical functionality to the regular contract.
The expiration date of ARBUSDTM23 has been set for June 30, 2023. ARB tokens are available in lots of 1,000, with a minimum trade size of 1 ARB. USDT is the margin currency. In addition to the take fee of 0.075%, a maker fee of 0.02% is applicable. BitMEX has implemented the mark method of Last Price and is considering the installation of price limitations to better safeguard clients.
The platform will establish a Limit Up and Limit Down each hour to ensure that the price remains within the range. No one will be permitted to go above the Limit Up Price or below the Limit Down Price. The mark price for adjustment is +/- 20%.
This is a speculative contract, and therefore, it may transition to auto-deleveraging. The chances are higher and worth noting for every customer.
BitMEX will soon construct a .BARBT index with the objective of representing the spot price of the token. Once it has been put to work, the idea of shifting from Mark Method to Fair Price will be tossed around the community. Holders of the token will have access to Arbitrum DAO, where critical decisions will be taken regarding governance and Arbitrum One.
The BMEX token discount will apply. The settlement price is .BARBT30M to mark yet another key difference in comparison to other contracts.
BitMEX was established in 2014 and has its headquarters in Hong Kong. A number of cryptocurrencies are listed on the exchange, and there are over 15 trading pairings. Except for the United States of America, BitMEX’s operations are supported globally. Form submissions and FAQs facilitate access to customer service.
The testnet version of Tether’s ARB listing provides users with access to all forms of customer service. Almost every other similar aspect of the platform can be viewed in our BitMEX review, including its regulations and services. Briefly, the platform is facing issues in the US but it is functional in other regions of the world.
Services include cryptocurrency trading through tools and services that traders desire. Its customer base is verified through KYC, and the platform is backed by an advanced API comprising technology that top-notch investment banks and hedge funds deploy.
The ARB token goes live on March 23, 2023, on the platform. Holders will be able to participate in the DAO and take a stand on all the critical aspects of the community.