BitMEX Delves Deeper Into DeFi With New Futures Listings

Sebastian Sinclair
·1-min read

BitMEX’s latest futures listings bring another decentralized finance (DeFi) product to the cryptocurrency derivatives space.

  • According to a company blog post Friday, the Seychelles-based exchange said it was adding DeFi token yearn.finance (YFI) to its quanto futures contracts.

  • Polkadot (DOT) and Binance coin (BNB) contracts are also on the way.

  • All three contracts will be paired against the dollar-linked tether (USDT) stablecoin.

  • Currently live on BitMEX’s testnet, the products are slated to start trading on Oct. 30 at 04:00 UTC.

  • Yearn.finance is currently the ninth largest DeFi protocol, with $458 million locked up in liquidity, according to DeFi Pulse.

  • It sets out to be the gateway to a range of yield-generating products.

  • Meanwhile, DOT is the native token of Polkadot, a protocol for connecting decentralized applications and services, and BNB powers the ecosystem of cryptocurrency exchange Binance.

  • “These three contracts aim to provide our users with quality coverage of highly liquid products,” BitMEX said.

  • The exchange rarely lists new contracts: last month it announced upcoming listings for Chainlink and Tezos futures, the first additions for two years.

  • BitMEX was recently charged by U.S. authorities for allegedly facilitating unregistered trading.

  • It’s since undergone a major leadership shakeup and brought in its first chief compliance officer.

  • This week, the company brought forward a mandate for all customers to verify their identities by Nov. 5, three months earlier than planned.

See also: BitMEX Accelerates Mandatory ID Verification After Charges of Lax Anti-Money Laundering Controls

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