Crypto derivatives platform BitMEX has just announced it is expanding its product line with the addition of three new futures contracts linked to the stablecoin USDT.
According to the exchange, Binance Coin (BNB), Polkadot (DOT) and yearn.finance (YFI) will start to be available for trading on BitMEX as of October 30. BitMEX offers a leverage of up to 33x for the first token and 25x for the other two.
The platform has reportedly decided to add YFI due to the growth of the DeFi ecosystem, which is the reason why it has also added LINK contracts recently. BitMEX traders will be able to hedge their exposure to BNB through the new exchange futures contract.
The new futures are quantum contracts, that is to say, they are held in one currency and calculated in another, in this case Bitcoin. Thanks to this, traders no longer have to hold multiple assets at the same time. BitMEX plans to add new contracts based on altcoins by the end of the year.
BitMEX is not going through its best moment after the US authorities filed charges against the company earlier this month, resulting in the founders of the platform leaving the company.
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