Bitcoin- and Tether- Margin Blurred Token Listing
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).
To be the first to know about our new listings, product launches, and giveaways, you can connect with us on Discord, Telegram, and Facebook. Twitter, We encourage you to visit our blog regularly.
Meanwhile, if you have any questions, please contact support.