Decentralized Bonk (BONK) Perpetual Futures Listing on Helix

Decentralized Bonk (BONK) Perpetual Futures Listing on Helix

The Bonk (BONK) perpetual futures market is live on Helix! This marks the first time Bonk (BONK) derivatives have become available for Injective and the broader Cosmos community.

You can now trade BONK perpetual futures on Helix with leverage, the premier on-chain derivatives exchange built on Injective. Read more below to find out more about Bonk and the benefits of trading BONK perpetual futures on Helix. 

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What Is Bonk (BONK)?

Bonk (BONK) is the first dog-themed coin on Solana "for the people, by the people" with 50% of the total supply airdropped to the Solana community. The Bonk contributors wanted to make a fun meme coin where everyone gets a fair shot. The airdrop was airdropped to Solana NFT collectors, developers, artists, etc.

As the true community coin of Web3, BONK's utility comes in the form of its strong community and thriving ecosystem of integrations. To-date BONK boasts over 131 integrations across 9 separate chains, its adoption continues to grow rapidly by reaching over 400,000 holders and listings across 25 different centralized and decentralized exchanges.

Why Trade BONK on Helix?

With a diverse array of upgrades and advanced enhancements, Helix is the only truly decentralized derivatives exchange. Helix provides completely unmatched exchange, trading bots, advanced order types, an intuitive Swap interface, trading histories, and reward tracking to Injective users. Anyone can use Helix as a crypto cross-chain trading gateway with zero gas fees, best-in-class security, and lightning-fast speeds. 

BONK/USDT PERP Market Details

  • Underlying market: BONK
  • Quote asset: USDT
  • Minimum price tick size: $0.00000001 USDT
  • Minimum quantity step: 10000
  • Expire: Perpetual (no expiration)
  • Maximum leverage: 5X
  • Initial margin ratio: 19.5%
  • Maintenance margin ratio: 9.5%
  • Trade and earn multiplier: 1X maker pts; 1X taker pts
  • Fee: -0.01% maker fee; 0.1% taker fee
  • Trading hours: 24/7/365

How to Trade BONK PERP on Helix?

In order to trade the BONK PERP market on Helix, you will need to have USDT in your Injective Wallet. The first step is to bridge assets from the Ethereum network to Injective.

Option 1: Bridge USDT from Ethereum to Injective 

  • Connect your Ethereum wallet (e.g. MetaMask, Ledger, Torus, Trezor, Trust Wallet) and make sure it has a USDT balance;
  • Go to the Account page on Helix and click “Deposit”;
  • Select Ethereum in the dropdown menu and select USDT as the token you want to bridge;
  • Click the “Set Allowance” button, which allows the bridge contract to use your USDT for the transfer; this will prompt you to sign a transaction via MetaMask or another wallet;
  • Note that you need to pay a small amount in ETH gas fees to bridge tokens from Ethereum (but don’t worry there won’t be any gas fees on Injective!). Click “Confirm” to continue;
  • Enter the amount of USDT you want to bridge over and click “Transfer Now”;
  • After a few minutes, the transaction will be completed;
  • You can check your USDT balance via the Injective Wallet or Account page on Helix.

Option 2: Onboard with Fiat

  • You can also onboard onto Helix using popular fiat currencies by selecting from one of the fiat on-ramp providers such as KadoTransak or Payfura.
  • Choose your payment currency (e.g. USD) and enter the amount in fiat you would like to swap;
  • Select Injective as the network to receive your payment amount; 
  • Follow the instructions and continue the steps;
  • Once the transaction is completed, you will see the USDT or INJ balance on Injective Wallet or Account page under Helix;
  • Swap INJ to USDT by using the Swap feature if needed, and then you are all set to trade! 

Trade BONK PERP on Helix

  • Go to the BONK/USDT PERP market on Helix;
  • Choose the side you want to trade on, either Buy (Long) or Sell (Short);
  • Then choose the type of order you want to trade, from Market, Limit, or more advanced types;
  • Enter the amount you want to trade and select your desired leverage;
  • Submit your order and approve it with your wallet; 
  • Once the order is approved successfully, you will see a notification “Your order has been placed.”

Upcoming Listings

Moving forward, Helix will continue to expand the markets available for users. All community members can propose to bring new assets to Helix using the governance portal on the Injective Hub. Ultimately, all INJ token holders own Injective so the community has the power to bring new assets to the dApp ecosystem.

Stay updated on all new listings by joining Helix on Twitter and Telegram

Useful Resources

  • How to create your Injective wallet: Link
  • Onboard onto Injective instantly with fiat: Link
  • Transfer assets to Injective via Injective Bridge: Link
  • A quick guide on how to make a trade on Helix: Link
  • Trade and Earn on Helix: Link
  • Earn trading fee discounts by staking INJ: Link

This article is for informational purposes only and is not financial advice or an endorsement of a particular project or application. Use of Helix is subject to Helix’s Terms and Conditions. 

About Helix

Helix is the premier decentralized crypto exchange. Helix provides access to unlimited crypto assets and perpetual markets with market leading rebates. Best-in-class security, near zero fees, lightning fast speeds, cross-chain capabilities and a fully on-chain orderbook on Helix provide the optimal gateway to bring crypto trading to the masses. Helix is built on Injective, the interoperable layer one protocol for building powerful exchange, DeFi, derivatives & Web3 applications.

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About Injective

Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native token that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.

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About Bonk

Bonk (BONK) is the first dog-themed coin on Solana "for the people, by the people" with 50% of the total supply airdropped to the Solana community. The Bonk contributors make a fun meme coin where everyone gets a fair shot. 

Website | Twitter | Blog | Discord | Telegram | Youtube | Instagram