Three new pre-IEO futures contracts are now live on BitMEX: AEVO (Aevo), PARCL (Parcl), and W (Wormhole). All listings are Tether-margined and offer up to 2x leverage.
Trading for all three listings began at 09:00 UTC on 5 March 2024:
- Trade AEVOUSDTZ24
- Trade PARCLUSDTK24
- Trade WUSDTZ24
For details on the new pre-IEO listings, 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 verified users- you can register here.
AEVO Linear Futures Contract Specs
AEVOUSDTZ24 is a linear futures contract, margined in USDT (ERC-20). It will work similarly to a regular futures contract, but with some key differences (as detailed at the bottom).
Aevo contract details:
- Symbol: AEVOUSDTZ24
- Expiry Date: 27 December 2024
- Margin currency: USDT
- Contract Size: 1 AEVO
- Lot Size: 1
- Minimum Trade Amount: 1 AEVO
- Underlying: .BAEVOT
- Max Leverage: 2x
- Maker Fee: -0.0175%
- Taker Fee: 0.25%
- Base Initial Margin: 50.00%
- Base Maintenance Margin: 25.0%
About AEVO, the Aevo Token
Aevo is a high-performance decentralized derivatives exchange, focused on options. The exchange runs on a custom EVM roll-up that rolls up to Ethereum. Aevo operates an off-chain orderbook with on-chain settlements. This means that once orders are matched, trades get executed and settled with smart contracts.
AEVO is the native token of Aevo which can be used for staking and governance of the Aevo DAO. It allows holders the right to express their preferences within the remit of the DAO and in the manner described in this document.
You can trade the AEVOUSDTZ24 futures contract here, or refer to the full contract specs here.
PARCL Linear Futures Contract Specs
PARCLUSDTK24 is a linear futures contract, margined in USDT (ERC-20). It will work similarly to a regular futures contract, but with some key differences (as detailed at the bottom).
Parcl contract details:
- Symbol: PARCLUSDTK24
- Expiry Date: 31 May 2024
- Margin currency: USDT
- Contract Size: 1 PARCL
- Lot Size: 1
- Minimum Trade Amount: 1 PARCL
- Underlying: .BPARCLT
- Max Leverage: 2x
- Maker Fee: -0.0175%
- Taker Fee: 0.25%
- Base Initial Margin: 50.00%
- Base Maintenance Margin: 25.0%
About PARCL, the Parcl Token
Parcl is a decentralized real estate trading platform. Parcl offers city indexes that allow you to speculate on price movements of real estate markets across the globe.
PARCL is the native token of Parcl. Holders of PRCL will be able to participate in governance of the Parcl protocol, as well as gain access to enhance utility across data and trading – including incentives within the Protocol ecosystem.
You can trade the PARCLUSDTK24 futures contract here, or refer to the full contract specs here.
W Linear Futures Contract Specs
WUSDTZ24 is a linear futures contract, margined in USDT (ERC-20). It will work similarly to a regular futures contract, but with some key differences (as detailed at the bottom).
Wormhole contract details:
- Symbol: WUSDTZ24
- Expiry Date: 27 December 2024
- Margin currency: USDT
- Contract Size: 1 W
- Lot Size: 1
- Minimum Trade Amount: 1 W
- Underlying: .BWT
- Max Leverage: 2x
- Maker Fee: -0.0175%
- Taker Fee: 0.25%
- Base Initial Margin: 50.00%
- Base Maintenance Margin: 25.0%
About W, the Wormhole Token
Wormhole is an open-source blockchain development platform focused on interoperability connecting the decentralized web. The platform is divided into four core foundations: messaging (for secure cross-chain transfers), queries (for pulling on-chain data to your app on any chain), connect (for integrating in-app bridget widgets), and gateway (for growing liquidity and users).
W is the native token that can be used by holders to participate in the governance of the Wormhole protocol.
You can trade the WUSDTZ24 futures contract here, or refer to the full contract specs here.
Key differences between our pre-IEO listings and other futures contracts:
- Mark Method: Last Price
- Price Limits: Limit Up and Limit Down set hourly at Mark Price +/- 20%
- Settlement Price: .BAEVOT30M / .BPARCLT30M / .BWT30M
- Auto Deleveraging: Enabled
The new listings 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 AEVO, PARCL, and W.
- 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 .BAEVOT, .BPARCLT, and .BWT indexes 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 .BAEVOT, .BPARCLT, and .BWT be 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.
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