BitMEX Updates Mark Method for ZKUSDTZ24 to Fair Price Marking

BitMEX has announced a significant update regarding the Mark Method for its ZKUSDTZ24 trading pair. Effective June 17, 2024, at 13:00 UTC, the platform transitioned the Mark Method to Fair Price marking, according to the BitMEX Blog.

Enhanced Pricing Accuracy

This strategic shift is aimed at improving the accuracy of the pricing mechanism for ZKUSDTZ24. BitMEX has constructed a robust index that represents the spot prices of ZK, which will now be priced on the .BZKT index. This index aggregates ZK prices from multiple prominent exchanges, including Binance, Bybit, Gate.io, and Kucoin.

Removal of Price Protections

Alongside the change in the Mark Method, BitMEX has also removed the Limit Down and Limit Up price protections for ZKUSDTZ24. This update is expected to provide traders with a more transparent and fair trading environment.

Industry Context

The move to Fair Price marking is part of a broader trend in the cryptocurrency trading industry, where exchanges strive to offer more accurate and reliable pricing mechanisms. By incorporating data from multiple reputable sources, exchanges like BitMEX aim to enhance market integrity and trader confidence.

For additional queries or support, users are encouraged to contact BitMEX support through their official channels.