Contract details : The contract will be redeamable at 110 USDC on the 31/12/21, no mattter if the market pumps or dumps. Buy orders will be posted on Serum. The contract is delta neutral, there is (almost) no market risk.
Historical price of the contract :
Favorable scenario : Market turning bearish as we approach maturity. We might be able to offer extra yield. The price of the product at maturity will be >= 110USDC
Average scenario : Market trend continues to be substainable and accelerates sometimes. The price of the product at maturity will be 110 USDC
Adverse scenario : Market goes parabolic (x2 in less than 1 month) and we see a strong widening of the spot future spread : we might have to overcollateralize to protect capital, thus reducing the yield, capital is not at risk
Extreme adverse scenario : Market knows exceptionnal events leading in extreme volatility (market does a x3 within) and extreme liquidity scarcity. Your capital is at risk.
Estimated move of the BTC if extreme scenario materializes (as of 17/07) : +300% within the next 30 days.
Estimated probability of materialization of the extreme scenario (as of 17/07): <1%
Read Only API Keys (bitmex) :
ID : XLkDtmceCnubkrWCxuZNINUF Pass: gXxM_qO5v_oMnrDOoIdNAqU6dxOOWZJ1xQqinJTT4rZXwQfZ
You can find an example on how to access regular data with these keys here
Technical info (Github) : We're short the ETHUSD Future contract, long ETH/BTC contract and long BTC to build a long ETHUSD exposure (More info soon)