Coming Soon: Project Galaxy, Tron, and Additional ApeCoin Listings

New week, new listings. Users will soon be able to trade our new XBT- and USDT-margined Project Galaxy (GAL) and Tron (TRX) listings, and XBT-margined ApeCoin (APE) perpetual contract – all with up to 33x leverage.

GALUSD, GALUSDT, TRXUSD, TRXUSDT, and APEUSD will go live on 19 May 2022 at 04:00 UTC, and will be visible on the platform from 18 May 2022 at 04:00 UTC as Unlisted – 24 hours before start of trading. 

Read on to learn more about our new perpetual contract listings.

GALUSD Quanto Contract Specs
As with all quanto contracts, the GALUSD product has a fixed Bitcoin multiplier, regardless of the GAL/USD price. This allows traders to long or short the GAL/USD exchange rate without ever touching GAL or USD. 

Traders post margin in XBT, and earn or lose XBT as the GAL/USD rate changes. This quanto rik premium may be one of the factors that results in the GALUSD swap trading at a premium/discount to the GALUSDT spot price. For an explanation of the same concept for ETHUSD, check out this blog post.

Key contract details:

  • Symbol: GALUSD
  • Margin currency: XBT
  • Bitcoin Multiplier: 0.0001 XBT (10,000 Satoshis)
  • XBT Contract Value: GALUSD Price * Bitcoin Multiplier (10,000 Sat / 1 USDT)
  • Underlying: .BGAL
  • Max Leverage: 33x
  • Maker Fee: -0.01%
  • Taker Fee: 0.075%
  • Base Initial Margin: 3.00% 
  • Base Maintenance Margin: 1.50% 


GALUSDT Linear Contract Specs
GALUSDT is a linear perpetual swap, margined in USDT.

Key contract specs:

  • Symbol: GALUSDT
  • Margin currency:  USDT
  • Contract Size: 0.001 GAL
  • Lot Size: 1000
  • Minimum Trade Amount: 1 GAL
  • Underlying: .BGALT
  • Max Leverage: 33x
  • Maker Fee: -0.01%
  • Taker Fee: 0.075%
  • Base Initial Margin: 3.00% 
  • Base Maintenance Margin: 1.50% 

Both the GALUSD and GALUSDT contracts will start trading at 04:00 UTC on 19 May 2022.

Both the .BGAL and .BGALT indices are equally weighted, based on prices from Binance, Gate.io, Huobi, Kucoin, Coinbase, and FTX.

What is Project Galaxy (GAL)?

GAL is a native utility token that powers Project Galaxy, a collaborative credential infrastructure that empowers brands to build better communities and products in Web3. The GAL token is used for governance, paying for application module fees, the Galaxy Oracle Engine, and Galaxy Credential API, as well as curating digital credentials. 

TRXUSD Quanto Contract Specs

As with all quanto contracts, the TRXUSD product has a fixed Bitcoin multiplier, regardless of the TRX/USD price. This allows traders to long or short the TRX/USD exchange rate without ever touching TRX or USD.

Traders post margin in XBT, and earn or lose XBT as the TRX/USD rate changes. This quanto risk premium may be one of the factors that results in the TRXUSD swap trading at a premium/discount to the TRXUSDT spot price. For an explanation of the same concept for ETHUSD, check out this blog post

Key contract details:

  • Symbol: TRXUSD
  • Margin currency:  XBT
  • Bitcoin Multiplier: 0.001 XBT (100,000 Satoshis)
  • XBT Contract Value: TRXUSD Price * Bitcoin Multiplier (100,000 Sat / 1 USDT)
  • Underlying: .BTRX
  • Max Leverage: 33x
  • Maker Fee: -0.01%
  • Taker Fee: 0.075%
  • Base Initial Margin: 3.00% 
  • Base Maintenance Margin: 1.50% 

TRXUSDT Linear Contract Specs

TRXUSDT is a linear perpetual swap, margined in USDT.

Key contract specs:

  • Symbol: TRXUSDT
  • Margin currency:  USDT
  • Contract Size: 0.1 TRX
  • Lot Size: 1000
  • Minimum Trade Amount: 100 TRX
  • Underlying: .BTRXT
  • Max Leverage: 33x
  • Maker Fee: -0.01%
  • Taker Fee: 0.075%
  • Base Initial Margin: 3.00% 
  • Base Maintenance Margin: 1.50% 

Both the TRXUSD and TRXUSDT contracts started trading at 04:00 UTC on 19 May 2022.

Both the .BTRX and .BTRXT indices are based on prices from Binance, Huobi, and OKX.

What is TRON (TRX)?
The TRX token itself is used to gain access to certain features of the operating software on the Tron protocol. Launched in 2017, TRON (TRX) is a decentralised blockchain-based operating system developed by the Tron Foundation. The TRON software supports smart contracts, different types of blockchain systems, and dApps.

APEUSD Quanto Contract Specs

As with all quanto contracts, the APEUSD product has a fixed Bitcoin multiplier, regardless of the APE/USD price. This allows traders to long or short the APE/USD exchange rate without ever touching APE or USD.

Traders post margin in XBT, and earn or lose XBT as the APE/USD rate changes. This quanto risk premium may be one of the factors that results in the APEUSD swap trading at a premium/discount to the APEUSDT spot price. For an explanation of the same concept for ETHUSD, check out this blog post

Key contract details:

  • Symbol: APEUSD
  • Margin currency:  XBT
  • Bitcoin Multiplier: 0.00001 XBT (1,000 Satoshis)
  • XBT Contract Value: APEUSD Price * Bitcoin Multiplier (1,000 Sat / 1 USDT)
  • Underlying: .BAPE
  • Max Leverage: 33x
  • Maker Fee: -0.01%
  • Taker Fee: 0.075%
  • Base Initial Margin: 3.00% 
  • Base Maintenance Margin: 1.50% 

The .BAPE index is equally weighted, based on prices from Binance, Huobi, Kraken, Coinbase, OKX, and FTX.

What is ApeCoin (APE)?

ApeCoin is an ERC-20 governance and utility token for culture, gaming, and commerce. Owned and operated by the ApeCoin DAO, the token is used within the APE ecosystem to empower a decentralised community at the forefront of web 3.0. Learn more about ApeCoin and our USDT-margined APE contracts here.

If you have any questions, please contact our Support team who will be happy to help.