BitMEX users can now long or short LDO via two new listings – LDOUSD and LDOUSDT.
LDO is the native governance token of Lido DAO, a decentralized autonomous organization (DAO) that provides staking infrastructure for multiple blockchain networks. Lido DAO is secured by decentralized governance, audited code, and smart contracts.
Through the arrival of the LDO listings on BitMEX, users can enjoy up to 20x leverage and one of the highest max position sizes in the industry.
Trading for LDOUSD and LDOUSDT began here and here on 11 January at 04:00 UTC.
For the lowdown on these listings, read on.
If you haven’t signed up for a BitMEX account yet, we’re currently offering 10,000 BMEX Tokens – you can register here.
LDOUSD Quanto Contract Specs
As with all quanto contracts, the LDOUSD product has a fixed Bitcoin multiplier, regardless of the LDO/USD price. This allows traders to long or short the LDO/USD exchange rate without ever touching LDO or USD.
Traders can post margin in XBT, and earn or lose in XBT as the LDO/USD rate changes.
This quanto risk premium may be one of the factors that results in the LDOUSD swap trading at a premium/discount to the LDOUSD spot price.
For an explanation of the same concept, check out this blog post referencing ETHUSD.
Key contract details for our LDO listing:
- Symbol: LDOUSD
- Margin Currency: XBT
- Bitcoin Multiplier: 0.0001 XBT (10,000 Satoshis)
- XBT Contract Value: LDOUSD Price * Bitcoin Multiplier (10,000 Sats / 1 USD)
- Underlying: .BLDO
- Max Leverage: 20x
- Risk limit: 50 XBT
- Maker Fee: 0.02%
- Taker Fee: 0.075%
- Base Initial Margin: 5.00%
- Base Maintenance Margin: 2.50%
You can trade the LDOUSD perpetual contract here, or check out the full contract specs here.
LDOUSDT Linear Contract Specs
LDOUSDT is a linear perpetual swap, margined in USDT. This allows users to gain exposure to the price of the LDO token and trade it with leverage, without needing to have LDO holdings.
Key contract details for our LDO token listing:
- Symbol: LDOUSDT
- Margin Currency: USDT
- Contract Size: 1 LDO
- Lot Size: 1
- Minimum Trade Amount: 1 LDO
- Underlying: .BLDOT
- Max Leverage: 20x
- Risk limit: 1,000,000 USDT
- Maker Fee: -0.015%
- Taker Fee: 0.075%
- Base Initial Margin: 5.00%
- Base Maintenance Margin: 2.50%
You can trade the LDOUSDT perpetual contract here, or check out the full contract specs here.
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In the meantime, if you have any questions please contact Support.