BitMEX Expands Support For Dogecoin, Shiba Inu, Pepe Coin & Others; Here’s How
Release: 2024/07/04 15:19 Reading: 642
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=205817
BitMEX Launches Meme Coin Perpetual Contract Index
Today, BitMEX has introduced a new product: the MEMEMEXTUSDT. This is a basket index perpetual swap contract that allows traders to gain exposure to the top 10 meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), Pepe Coin (PEPE), and other popular meme cryptocurrencies.
Features
- Margined in USDT
- Leverage of up to 25x
- Tracks the performance of the top 10 meme coins
- Diversifies risk
MEMEMEX Basket Index
The MEMEMEX Basket Index (also known as .BMEMEMEXT) is the underlying asset for the MEMEMEXTUSDT contract. It comprises the top 10 meme coins by market capitalization:
- Dogecoin (DOGE) - 20%
- Shiba Inu (SHIB) - 20%
- Pepe Coin (PEPE) - 20%
- Dogwifhat (WIF) - 8.81%
- Floki Inu (FLOKI) - 8.31%
- Brett (BRETT) - 7.31%
- Bonk (BONK) - 7.38%
- Book of Meme (BOME) - 3.18%
- Memecoin (MEME) - 2.50%
- Mog Coin (MOG) - 2.50%
The market capitalizations of these tokens are reviewed monthly, and the index is adjusted to ensure it always includes the top 10 meme coins.
Calculation and Rebalancing
The MEMEMEX Basket Index uses a weighted average price of the underlying coins. The index multipliers are updated on the last Friday of each month. Any changes are announced four days prior to the rebalance.
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