RNDR has arrived at BitMEX via a new listing – RNDRUSD, with up to 50x leverage, giving this new contract one of the highest max position sizes in the industry.
What is RNDR?
RNDR is the utility token of The Render Network – a provider of decentralized GPU based rendering solutions. It is an ERC-20 token, serving as the utility token used to pay for animation, motion graphics, and VFX rendering on the Render Network.
The network connects users who are seeking to render images and videos with others who have idle graphics processing power. Subsequently, the token is intended to simplify and smooth the transactional process of streaming and rendering 3D models and environments.
RNDRUSD will begin trading from tomorrow, 23 May 2023 at 04:00 UTC.
For more, read on.
RNDRUSD Quanto Contract Specs
As with all quanto contracts, the RNDRUSD product has a fixed Bitcoin multiplier, regardless of the RNDR/USD price. This allows traders to long or short the RNDR/USD exchange rate without ever touching RNDR or USD.
Traders can post margin in XBT, and earn or lose in XBT as the RNDR/USD rate changes.
This quanto risk premium may be one of the factors that results in the RNDRUSD swap trading at a premium/discount to the RNDRUSD spot price.
For an explanation of the same concept, check out this blog post referencing ETHUSD.
Key Contract Details for Our RNDRUSD Listing:
- Symbol: RNDRUSD
- Margin Currency: XBT
- Bitcoin Multiplier: 0.00001 XBT (1,000 Satoshis)
- XBT Contract Value: RNDRUSD Price * Bitcoin Multiplier (1,000 Sat / 1 USD)
- Underlying: .BRNDR
- 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%
In the meantime, if you have any questions please contact Support.