BitMax Perpetual Contract Volume Hit ATH Of $17.80M
The BitMax exchange launched BTC Perpetual Futures Contract on March 23.
On the first day, $1,80M worth of BTC Perpetual Futures contract was traded on it. One month after the launch, BitMax marked a new record of $17.80M in 24-hour volume, indicating a 980% growth from its first day.
At the same time, the Open Interest of BitMax BTC Perpetual contract increased from $489k on March 23 to $1.70M on May 6, which shows the rapid growth of 347%.
BitMax.io futures contract do have some UNIQUE features:
Backstop Liquidity Provider Program (“BLP”): BLP aims to mitigate the risk of clawbacks and liquidation by transfers the distressed positions to opt-in institutions in BLP.
Unique PnL: BitMax.io settles realized PnL every minute or less. If a user’s position is in deep profit, the profit can be used as collateral to enter further positions. BitMax.io is able to accomplish this by realizing PnL on a high frequency.