Now Live: Pre-Launch Futures Contract for CATI with 2x Leverage
A new Pre-Launch futures contract for Catizen (CATI) – CATIUSDTU24 – is now available to trade on BitMEX. The new listing is margined in Tether (USDT) and offers up to 2x leverage so you can long or short CATI before it’s listed on spot exchanges.
Trading for CATIUSDTU24 started here at 09:00 UTC on 16 September 2024.
For details on the new Pre-Launch listing, read on.
If you haven’t signed up for a BitMEX account yet, we’re currently offering up to $5,000 in BMEX Tokens for newly verified users – you can register here.
CATIUSDTU24 Linear Futures Contract Specs
CATIUSDTU24 is a linear futures contract, margined in USDT (ERC-20). It works similarly to a regular futures contract but with some key differences (as detailed at the bottom).
CATI contract details:
Symbol: CATIUSDTU24
Expiry Date: 27 September 2024
Margin currency: USDT
Contract Size: 1 CATI
Lot Size: 10
Minimum Trade Amount: 10 CATI
Underlying: .BCATIT
Max Leverage: 2x
Maker Fee: -0.0175%
Taker Fee: 0.25%
Base Initial Margin: 50.00%
Base Maintenance Margin: 25.0%
You can trade the CATIUSDTU24 futures contract here, or refer to the full contract specs here.
Key differences between our Pre-Launch listings and other futures contracts:
Mark Method: Last Price
Price Limits: Limit Up and Limit Down set hourly at Mark Price +/- 20%
Settlement Price: .BCATIT30M
Auto Deleveraging: Enabled
Pre-Launch futures are highly volatile and speculative contracts. Because of this, we’ve changed a few items:
We are using Last Price marking because there is not yet an observable price for CATI.
To protect the market against manipulation, we will use Limit Up and Limit Down prices, which are set each hour, on the hour, at Mark Price +/- 20%. Traders will not be able to place bids above the Limit Up Price or place offers below the Limit Down Price.
The .BCATIT index will be constructed by BitMEX when it is possible for our team to produce a robust index that represents the spot price of the each token. Once such an index exists, we may use our discretion to change the Mark Method to Fair Price. Until such an Index is created, the value of .BCATIT is set to 0. If there is no index constructed by the expiry date, the Settlement Value will be 0.
As with all crypto derivatives contracts traded on BitMEX, there is a possibility that auto-deleveraging will occur. Since this contract is purely speculative, the possibility of auto-deleveraging is higher than on a regular contract.
About CATI, the Catizen Token
Catizen is a popular Telegram-based play-to-earn game where you become the mayor responsible for managing a virtual cat city. As the mayor, you develop and expand your city by constructing buildings, upgrading infrastructure, and managing cat citizens. The game combines city-building with crypto economics, offering a unique and engaging experience.
The Catizen (CATI) token is scheduled to lanuch on 20 September 2024 on The Open Network (TON), following which players widely expect the game to announce an airdrop campaign.
The game has become one of the largest growing games on Telegram, surpassing $10 million in in-game revenue since its launch in March 2024. It boasts over 34 million game users and over 3.5 million daily active users (DAUs), including 800,000 paying users and an ARPPU of $33 as of September 2024.
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