October 23, cryptoderivatives exchange BitMEX announced the expansion of its product line with three new futures contracts paired with USDT.
Beginning October 30, Binance Coin (BNB), Polkadot (DOT) and yearn.finance (YFI) will be available for trading on BitMEX platform. BitMEX offers a 33x leverage limit for the first token and 25x for the other two.
BitMEX explains its decision to list YFI with a further expansion in DeFi space, where it added contracts for LINK last month. The exchange offers to use BNB contracts to hedge existing positions on Binance's own token.
New futures are quanto contracts, i.e. they are concluded in one currency and are calculated in another, in this case in bitcoin. Due to this, traders can avoid the need to own several assets at once. By the end of the year BitMEX plans to add additional contracts based on altoin.
At the beginning of the month, BitMEX was persecuted by the U.S. authorities, as a result of which its founders were forced to leave management positions. The new management has expressed confidence that BitMEX has great prospects ahead of it. The company said it intends to set standards for the entire cryptographic industry in terms of customer identification procedures and thereby free up resources for further development of its products.