Cryptocurrency derivatives exchange BitMEX announced today that it will launch 10 new products in the summer. From… Solana (Sol).

The leverage of the SOLUSDT perpetual swap contract is as high as 33 times, which will take effect on June 1, 2021 (Tuesday) at 04:00 UTC; now visible Testnet.

Like all BitMEX quantitative contracts, SOLUSDT products will have a fixed Bitcoin multiplier, regardless of the price of Tether/Solana. This allows traders to go long or short the SOL/USDT exchange rate without touching SOL or USDT.

Traders post margin in XBT and earn or lose XBT as the exchange rate of SOL/USDT changes. This quantitative risk premium may be one of the factors that cause the SOLUSDT swap transaction to be at a premium/discount relative to the SOLUSDT spot price.

Contract details:

• Code: SOLUSDT
• Bitcoin multiplier: 0.00001 XBT (1,000 Satoshis)
• XBT contract value: SOLUSDT price * Bitcoin multiplier (1,000 Sat / 1 USDT)
• Base: .BSOLT
• Maximum leverage: 33x
• Manufacturer’s fee: -0.025%
• Recipient fee: 0.075%
• Basic initial margin: 3.00%
• Basic maintenance deposit: 1.50%

Starting from 04:00 UTC on May 31, 2021, the testnet contract will be visible on the platform private, Which is the first 24 hours of trading at 04:00 UTC on June 1, 2021.