The GameFi segment blends the gaming industry and the finance industry. It allows players to earn while playing their favorite games. In return, players are rewarded a share of Cryptocurrency and/or non-fungible tokens.
Cryptocurrencies can be collected directly in the digital wallet. Non-fungible tokens, on the other hand, could be land, avatars, or any other digital asset. Many GameFi platforms enable their players to transfer NFTs to other virtual worlds, and they can alternatively be traded at a marketplace.
Details And Specifications About The Green Metaverse Token
The GameFi space has now undergone a revolution, courtesy of STEPN – a Web3 lifestyle app. STEPN adds a pinch of Social-Fi and Game-Fi elements to its Web3 lifestyle app. Users who register and use the features of STEPN stand a chance to earn handsome rewards.
STEPN is majorly backed by Sequoia and Folius Ventures and many other investors and advisors.
It has now taken its governance token, the Green Metaverse Token, live on BitMEX. BitMEX confirmed this piece of news through its blog post.
BitMEX is a trading platform that offers margin trading and leverage trading. BitMEX enables its users to build perpetual contracts. It has come out as the most reliable platform that users can trust. A lot of investments are directed to innovating the features and products.
BitMEX functions on the best APIs to ensure that users have high-quality knowledge of trading and confidence related to investments. Trading enthusiasts should research and read more BitMEX reviews to get started by registering on the platform.
XBT-USD are the most traded swaps on BitMEX. Taking the Green Metaverse Token to live on the platform will allow its users to trade XBT and USDT with a maximum leverage of 33x. They have been margined against GMT perpetual contracts.
GMTUSD and GMTUSDT listings go live on the platform on April 11, 2022, at 04:00 UTC. The listings are based on Quanto contracts wherein a third-party currency, Cryptocurrency, in this case, is brought in between to mitigate the fluctuation risks.
As per the Quanto contract of GMTUSDT and GMTUSD, both will have Bitcoin as a fixed multiplier. However, traders will post their margin in XBT and earn or lose in XBT based on how many changes the GMT/USD rate goes through.
The Quanto contract will enable traders to go long or short without putting their hands on GMT or USD.
GMTUSD and GMTUSDT share nearly all the same specifications in their respective contracts. Both will use XBT as a margin currency with a maximum leverage of 33x. The listings will attract a maker fee of -0.01%, a taker fee of 0.05%, a Base Initial Margin of 3%, and a Base Maintenance Margin of 1.5%.
Both will be equally weighted based on the pricing details fetched by Binance, Gate.io, FTX, OKX, and Huobi.