BitMEX Introduces Fair Price Marking for DOGSUSDTQ24

BitMEX has announced a significant update for the DOGSUSDTQ24 perpetual contract. According to BitMEX Blog, as of August 27, 2024, at 07:00 UTC, the Mark Method for DOGSUSDTQ24 has transitioned to Fair Price marking.

Transition to Fair Price Marking

The change to Fair Price marking was made possible by constructing a robust index that accurately represents the spot prices of DOGS. This new pricing mechanism aims to provide traders with a more precise valuation, reducing discrepancies and improving overall market stability.

New Pricing Index

DOGS is now priced based on the .BDOGST index. This comprehensive index incorporates DOGS prices from multiple major cryptocurrency exchanges, including Bybit, OKX, Gate.io, and Kucoin. The inclusion of several trusted sources aims to enhance the accuracy and reliability of the price data.

Removal of Price Protections

With the implementation of the Fair Price marking, BitMEX has also removed the Limit Down and Limit Up price protections. These changes are expected to allow for a more dynamic and representative pricing model, aligning with market movements more closely.

If traders have any questions regarding this update, they are encouraged to contact BitMEX Support.