BitMEX Launches TONUSD Perpetual Swap with 20x Leverage

BitMEX announces the launch of the TONUSD perpetual contract listing, featuring Toncoin, allowing traders to participate in the TON/USD exchange rate market with up to 20x leverage. The contract, with a fixed Bitcoin multiplier and margin posting in XBT, offers traders the opportunity to long or short the TON/USD rate without directly handling TON or USD. Key contract details include a 0.02% maker fee, a 0.075% taker fee, a base initial margin of 5.00%, and a base maintenance margin of 2.50%.

BitMEX Unveils TONUSD Perpetual Swap with Up to 20x Leverage

London, April 22, 2024 - BitMEX, the leading cryptocurrency exchange known for its advanced trading platform, is set to launch a new perpetual contract featuring Toncoin (TON) on April 23, 2024, at 04:00 UTC. This marks a significant expansion of BitMEX's product offerings, providing traders with a new avenue to speculate on the price of TON.

The TONUSD contract is a quanto contract, which means that it has a fixed Bitcoin multiplier regardless of the TON/USD price. This allows traders to take long or short positions on the TON/USD exchange rate without ever touching TON or USD. Traders can post margin in Bitcoin (XBT) and earn or lose in XBT as the TON/USD rate changes.

Key contract details:

• Symbol: TONUSD
• Margin Currency: XBT
• Bitcoin Multiplier: 0.0001 XBT (10,000 Satoshis)
• XBT Contract Value: TONUSD Price * Bitcoin Multiplier (10,000 Sats / 1 USD)
• Underlying: .BTON
• 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%

About The Open Network (TON) and Toncoin (TON)

The Open Network (TON) is a decentralized and open internet platform that operates on a layer-1 blockchain protocol designed by Telegram. Its mission is to provide an alternative to the centralized internet, offering greater security, privacy, and scalability. TON comprises several components, including TON Blockchain, TON DNS, TON Storage, and TON Sites.

Toncoin (TON) is the native token of the TON blockchain. It serves as the currency for fees, rewards, and governance within the TON ecosystem. TONUSD perpetual swap contract provides traders with a convenient and capital-efficient way to speculate on the price of TON while leveraging the benefits of BitMEX's robust trading platform.

Why Trade TONUSD on BitMEX?

• High Leverage: Traders can access up to 20x leverage, allowing them to amplify their returns while managing their risk.
• Quanto Contract: The quanto structure eliminates the need for traders to hold or trade TON or USD, making it easy to take positions on the TON/USD exchange rate.
• Robust Trading Platform: BitMEX offers a cutting-edge trading platform with advanced order types, real-time market data, and sophisticated risk management tools.
• Trusted and Regulated: BitMEX is a trusted and regulated cryptocurrency exchange that adheres to industry-leading security and compliance standards.

Get Ready to Trade TONUSD

To start trading the TONUSD perpetual swap contract, traders must create an account on BitMEX and complete the verification process. Once verified, they can fund their account with Bitcoin and start trading.

For more information on the TONUSD contract and other upcoming listings, traders are encouraged to visit the BitMEX blog and connect with the BitMEX community on social media platforms such as Twitter and Telegram.

Media Contact:

press@bitmex.com