Now Live: Pre-Launch Futures Contract for HMSTR with 2x Leverage
A new Pre-Launch futures contract for Hamster Kombat (HMSTR) – HMSTRUSDTU24 – 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 HMSTR before it’s listed on spot exchanges.
Trading for HMSTRUSDTU24 started here at 09:00 UTC on 13 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.
HMSTR Linear Futures Contract Specs
HMSTRUSDTU24 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).
HMSTR Contract Details:
Symbol: HMSTRUSDTU24
Expiry Date: 27 September 2024
Margin currency: USDT
Contract Size: 1 HMSTR
Lot Size: 10
Minimum Trade Amount: 10 HMSTR
Underlying: .BHMSTRT
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 HMSTRUSDTU24 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: .BHMSTRT30M
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 HMSTR.
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 .BHMSTRT 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 .BHMSTRT 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 HMSTR, the Hamster Kombat Token
Hamster Kombat is a crypto-based clicker game built on the TON blockchain that has garnered attention for its engaging gameplay and integration with the digital currency ecosystem, where players have the opportunity to earn and trade in-game coins for tokens.
The game has been listed on various platforms, indicating its growing popularity and acceptance within the cryptocurrency community. HMSTR, the utility token of the game, is expected to begin spot trading on Binance on 26 September 2024 at 12:00 UTC.
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