Now Live: First Tether-Margined SEI Futures Contract

Sei Network (SEI), a Layer 1 blockchain with built-in central limit order book functionality, is now tradable via our new USDT-margined linear futures contract (SEIUSDTQ23) on BitMEX.

This contract launched today, enabling traders to gain exposure to SEI with up to 20x leverage.

For a deeper dive into SEI’s listing specifics, continue reading.

About the SEI Token and Network

Sei Network (SEI) is a high-speed Layer 1 blockchain optimized for DeFi, NFTs, and gaming applications. Key features include:

• 20,000 orders per second throughput.
• 500ms transaction finality.
• Designed for high-frequency trading without compromising on-chain security.

SEI Linear Futures Contract Specifications

SEIUSDTQ23 is a USDT (ERC-20)-margined linear futures contract. Unlike traditional futures, it incorporates unique adjustments to accommodate SEI’s early-stage volatility.

Contract Details:

| Parameter | Value |
|-----------------------------|------------------------------------|
| Symbol | SEIUSDTQ23 |
| Expiry | August 25, 2023 |
| Margin Currency | USDT |
| Contract Size | 1 SEI |
| Minimum Trade Amount | 10 SEI |
| Max Leverage | 20x |
| Liquidity Fees | 0.00% (Provide) / 0.075% (Remove) |

Key Adjustments for SEI:

1. Mark Price Method: Uses "Last Price" due to SEI’s nascent price discovery.
2. Price Limits: Hourly ±20% bounds around the mark price to prevent manipulation.
3. Settlement: .BSEIT30M index (or 0 if no robust index exists by expiry).
4. Auto-Deleveraging (ADL): Enabled—higher risk given SEI’s speculative nature.

👉 Trade SEI Futures Now

FAQs

1. Why is SEI’s mark price method different?

SEI lacks an observable price history. "Last Price" ensures fairness until a reliable index (e.g., .BSEIT) is established.

2. How do price limits protect traders?

Hourly ±20% bounds prevent extreme volatility spikes and potential market abuse.

3. What happens if no SEI index exists by expiry?

The contract settles at 0 USDT.

Final Notes

SEIUSDTQ23 is live on BitMEX as of August 10, 2023 (08:00 UTC).

👉 Start Trading Today

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Disclaimer: Crypto futures trading carries high risk. Ensure you understand the product before participating.