Now Live: The First Ever Tether-Margined Celestia Futures Contract

TIA, the native token of Celestia, the first modular blockchain network, is now live at BitMEX, via our new Tether-margined linear futures listing –  TIAUSDTZ23. 

It began trading from 27 October 2023 at 04:00 UTC. You can trade the TIAUSDTZ23 contract here, or refer to the full contract specs here

For a deeper look at our new Celestia listing, and more on the TIA Token, 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.

About TIA, the Celestia Token

Celestia is a modular data availability network that securely scales with the number of users, making it easy for anyone to launch their own blockchain. With Celestia, developers can create social applications that empower users to own their; digital identity, content, connections, and monetisation channels.

With the TIA Token, users can; pay to publish data to Celestia’s blobspace and stake TIA to participate in consensus and secure Celestia. Developers can use TIA as a gas token for their rollups.

TIA Linear Futures Contract Specs

TIAUSDTZ23 will be 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 below).

TIA contract details:

  • Symbol:TIAUSDTZ23
  • Expiry Date: 29 December, 2023
  • Margin currency: USDT
  • Contract Size: 1 TIA
  • Lot Size: 10
  • Minimum Trade Amount: 10 TIA
  • Underlying: .BTIAT
  • Max Leverage: 2x
  • Maker Fee: 0.00%
  • Taker Fee: 0.075%
  • Base Initial Margin: 50.00%
  • Base Maintenance Margin: 25.0% 

Key differences between our TIA listing and other futures contracts:

  • Mark Method: Last Price
  • Price Limits: Limit Up and Limit Down set hourly at Mark Price +/- 20%
  • Settlement Price: .BTIAT30M
  • Auto Deleveraging: Enabled

This new listing is a highly volatile and speculative contract. Because of this, we’ve changed a few items:

  • We are using Last Price marking because there is not yet an observable price for Tia.
  • 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 .BTIAT 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 TIA 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 .BTIAT 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.

You can trade the TIAUSDTZ23 contract here, or refer to the full contract specs here

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