New week, new listings. Users will soon be able to trade our new XBT- and USDT-margined Terra Luna 2.0 contracts – all with up to 25x leverage.
LUNAUSD and LUNAUSDT will go live on 2 June 2022 at 04:00 UTC, and will be visible on the platform from 1 June 2022 at 04:00 UTC as Unlisted – 24 hours before start of trading.
Read on to learn more about our new perpetual contract listings.
LUNAUSD Quanto Contract Specs
As with all quanto contracts, the LUNAUSD product has a fixed Bitcoin multiplier, regardless of the LUNA/USD price. This allows traders to long or short the LUNA/USD exchange rate without ever touching LUNA or USD.
Traders post margin in XBT, and earn or lose XBT as the LUNA/USD rate changes. This quanto risk premium may be one of the factors that results in the LUNAUSD swap trading at a premium/discount to the LUNAUSDT spot price. For an explanation of the same concept for ETHUSD, check out this blog post.
Key contract details:
- Symbol: LUNAUSD
- Margin Currency: XBT
- Bitcoin Multiplier: 0.0001 XBT (10,000 Satoshis)
- XBT Contract Value: LUNAUSD Price * Bitcoin Multiplier (10,000 Sat / 1 USDT)
- Underlying: .BLUNA
- Max Leverage: 25x
- Maker Fee: -0.01%
- Taker Fee: 0.075%
- Base Initial Margin: 4.00%
- Base Maintenance Margin: 2.00%
LUNAUSDT Linear Contract Specs
LUNAUSDT is a linear perpetual swap, margined in USDT.
Key contract specs:
- Symbol: LUNAUSDT
- Margin Currency: USDT
- Contract Size: 0.001 LUNA
- Lot Size: 1000
- Minimum Trade Amount: 1
- Underlying: .BLUNAT
- Max Leverage: 20x
- Maker Fee: -0.01%
- Taker Fee: 0.075%
- Base Initial Margin: 5.00%
- Base Maintenance Margin: 2.50%
Both the LUNAUSD and LUNAUSDT contracts will start trading at 04:00 UTC on 2 June 2022.
What is Terra Luna 2.0 (LUNA)?
Following the collapse of Terra Luna, protocol founder and CEO – Do Kwon – proposed a revival plan, which outlines the creation of a new Terra chain that won’t have an algorithmic stablecoin. The old chain will be called Terra Classic, and the old Luna token will carry the ticker LUNC. On 25 May 2022, Terra Classic users passed governance proposal 1623.
Alongside Do Kwon’s proposal to create a new Terra chain, Luna 2.0 – the token that fuels the new Terra blockchain – will replace the old Luna token. Luna 2.0 went live on May 28 2022, during the genesis block for the new Terra chain.
Following the inception of Luna 2.0 and the new Terra chain, Luna 2.0 was airdropped to LUNC token holders. The airdrop allocations are as follows:
- Community pool: 30%
- Pre-attack LUNA holders: 35%
- Pre-attack aUST holders: 10%
- Post-attack LUNA holders: 10%
- Post-attack UST holders: 15%
To be the first to know about our contracts, new listings, product launches and giveaways, you can connect with us on Discord, Telegram, and Twitter. We encourage you to also check our blog regularly.
In the meantime, if you have any questions please contact Support.
The post Coming Soon: Terra Luna 2.0 Listings appeared first on BitMEX Blog.
