DIB Futures

Description

DIB Future contracts are cash settled contracts that are settled once: at expiration. Cash settlement means that the underlying asset of the contract is not physically delivered. Instead, the two parties settle the price difference between the future price of the contract and the price of the underlying asset at expiration. Users can choose from the most popular stablecoins or cryptocurrencies for margin payments. The standard size of a future contract is 1, but creating multiple future contracts with one order is possible. The maximum profit is always the margin that is put up by the counterparty of the contract.

To settle the contract after expiration, the user has to withdraw his payout from the contract to his wallet himself, or allow a third party to do this for him, by sending a 'withdraw' message to the blockchain. If price-data to settle the contract with has not been fetched yet, user will have to fetch the data in a separate transaction after which the withdrawal from the contract can be calculated. If the data has not been able to be fetched after 2 weeks, the seller is able to withdraw his margin.

DIB Future contracts can be used for speculation, or locking in prices of assets.

Product specifications

Contract details

Future style

Cash settled at expiration

Expiry date and time

Every Friday, 18:00 UTC

Expiration periods

Futures are made available 3 weeks before their expiration

Underlying assets

ETH/USD, BTC/USD etc.

Contract Size

1 of the underlying asset

Margin requirements

Margin currencies

Trading hours

24/7

Settlement fee

...%

Trading fees

...%

Oracle solution

Data source(s) for settlement

.....

Computation logic

Emergency trigger

After 2 weeks of no data fetching

OracleID

.....

SyntheticID

Examples