Ethereum 2.0: BitMEX Launches ETH Proof of Work Futures Contract
All shots are allowed – Cryptocurrency exchange Bitmex has formalized the upcoming launch of a new derivative contract on ETH. As “The Merge” approaches for Ethereum, the exchange intends to list a new derivative contract. The announcement comes days after the research team explored the possibility of a hard fork. The contract will be listed on the trading platform on August 9.
Ethereum 2.0: Speculation is at its peak
The long-awaited (understatement) “update” to the ETH blockchain has been causing a lot of noise in recent days. Scheduled for next month, the consensus chain for this implementation will evolve proof of work from Proof of stake. Positive, negative, each influencer or each investment fund has its own theory, although one cannot predict everything.
For its part, BitMEX is betting that there could be a split in the Ethereum chain. We will therefore end up with a version Proof of stake (worn by Vitalik Buterin) and protected by a version proof of work. The exchange leads the offering of a derivative contract, whose underlying asset does not yet exist.
and will probably not exist, hard fork Not an absolute certainty towards PoW, though likely. This agreement is therefore particularly speculative. BitMEX recognizes this and clearly warns. The contract will be denominated in USDT stablecoin and will allow leverage up to x2. Not sure if this will please Ethereum maximalists.
Trading is by default a highly risky professional activity. Cryptocurrencies are like traditional assets on steroids, hyper volatile, so we can add leverage. The perfect cocktail to waste your capital without proper risk management.