Today, crypto derivatives exchange BitMEX announced the launch of Equity Perps powered by Chainlink Data Streams.
Equity Perps is a new derivatives product that allows traders to gain exposure to major U.S. stocks and equity indices using cryptocurrency such as Bitcoin or Tether as collateral. These cash-settled perpetual swap contracts track the price of individual U.S. stocks or indices, do not have an expiry date, and use a funding rate mechanism to anchor prices to the underlying reference index.
Equity Perps are currently available on widely traded U.S. stocks and indices such as Amazon, Apple, Circle, Coinbase, Meta, Nvidia, Robinhood, Tesla, the S&P 500, and the Nasdaq. Trading is open 24/7, with index pricing primarily based on real-time equity prices during U.S. market hours and supported by tokenized spot prices from multiple exchanges outside of those hours.
Data Streams is a pull-based oracle solution that allows protocols to consume data more cost-effectively and at lower latencies while reducing the possibility of frontrunning and MEV. Leveraging Chainlink’s time-tested oracle infrastructure, which has facilitated over $27 trillion in transaction value, Data Streams expand DeFi’s reach by unlocking advanced products like perpetual futures contracts that require lower gas fees and faster price updates.
BitMEX was built to provide professional crypto traders with low latency, deep crypto-native liquidity and unmatched reliability. Since its 2014 launch, the platform has proven resilient to hacks and intrusions and was among the first exchanges to publish onchain proof of reserves and proof of liabilities data verifying that customer funds are securely stored and segregated.
“Equity Perps give traders a more flexible way to access U.S. equity markets using crypto,” said BitMEX CEO Stephan Lutz in an official announcement. “By removing traditional market hours and allowing crypto collateral, we are extending our derivatives expertise to a broader set of global markets while maintaining the reliability and performance BitMEX is known for.”
To learn more about BitMEX, visit their website, X, Telegram, and Discord.