What is Lisk?
After a successful ICO raising over $6m, Lisk is now trading on the secondary market and volumes are impressive, overtaking ETH volumes on its first day. It is essentially a clone of Ethereum, but the scripting language is JavaScript so it sets itself apart in its ease of use for those who wish to create dapps (decentralised applications).
Introducing LSKXBT
LSKXBT is a leveraged trading product that allows traders using only Bitcoin to go long or short Lisk with up to 3.33x leverage. The leverage will increase as liquidity improves. Each LSKXBT contract is worth 1 LSK, and quoted in XBT. The underlying of LSKXBT is the Poloniex LSK/XBT exchange rate.
LSKXBT does not have an expiry date. Buyers will receive the Poloniex LSK funding rate (when it becomes available, currently set at 0%), and pay the XBT funding rate. Shorts receive the Poloniex XBT funding rate, and pay the LSK funding rate. Please read Swaps 101 to learn more about how it works.
Going Long or Short LSKXBT
If you have some Bitcoin, you can go long or short LSKXBT with leverage. There is no need to borrow LSK to short it which is one of the main benefits of trading BitMEX products.
To read more about trading this product, please visit the BitMEX Blog on Trading Lisk.
Best,
The Team at BitMEX
Topic: [ANN] Trade Lisk with Leverage on BitMEX (Read 429 times)
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