The long-awaited Blur Token Airdrop has finally begun.
and that’s not all. Starting today at 04:00 UTC, users can long or short Blur Token with up to 50x leverage via two new listings: BLURUSD and BLURUSDT.
The launch of BLURUSD and BLURUSDT allows users to trade and speculate on the governance token of one of the largest NFT projects – which has seen an increase in volatility (and trading activity) following yesterday’s airdrop.
For the lowdown on our Blur Token listing, read on.
If you haven’t signed up for a Bitmex account yet, you can do so here.
BLURUSD Quanto Contract Specifications
As with all Quanto contracts, the BLURUSD product has a fixed bitcoin multiplier regardless of the BLUR/USD price. This allows traders to go long or short on the BLUR/USD exchange rate without ever touching BLUR or USD.
Traders can post margin in XBT, and earn or lose in XBT as the BLUR/USD rate changes. This quanto risk premium can be one of the factors that result in BLURUSD swaps trading at a premium/discount to the BLURUSD spot price.
For an explanation of the same concept, see this blog post referring to ETHUSD.
Key contract details for our Blur Token listing:
Symbol: BLURUSD Margin Currency: XBT Bitcoin Multiplier: 0.0001 XBT (10,000 Satohis) XBT Contract Price: BLURUSD Price * Bitcoin Multiplier (10,000 Sat / 1 USD) Underlying: .BBLUR Max Leverage: 50x Risk Limit: 50 XBT Maker Fee: 0.02% Taker Fee: 0.075% Base Initial Margin: 2.00% Base Maintenance Margin: 1.00%
Users can trade the BLURUSD perpetual contract here, and full contract specs here.
BLURUSDT linear contract specification
BLURUSDT is a linear continuous swap, margined in USDT.
Key contract details for our BLUR token listing:
Symbol: BLURUSDT Margin Currency: USDT Contract Size: 0.001 BLUR Lot Size: 1000 Minimum Trade Amount: 1 BLUR Underlying: .BBLURT Max Leverage: 33.33x Risk Limit: 1 million USDT Maker Fee: -0.01% Taker Fee: 0.075% Initial Base Margin: 3.00% Base Maintenance Margin: 1.50%
Users can trade the BLURUSDT perpetual contract here, or check out the full contract specifications here.
What is blur token?
BLUR is the governance token of BLUR, a new “NFT marketplace for pro traders”. The Blur token is ERC-20-based, and will have a maximum supply of three billion.
The launch of BLUR represents Blur’s strategy to make decentralized governance a reality for its marketplace – and grab market share from its competitors (such as OpenSea).
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