The BUIDL Index perpetual futures market is now available on Helix!
You can now trade BUILD/USDT PERP on Helix, the premier on-chain derivatives exchange built on Injective. Read more below to find out more about BUIDL, the benefits of trading BUIDL Index perpetual futures on Helix, and a step-by-step guide on how to trade on Heilx.
Get started here: https://helixapp.com/futures/buidl-usdt-perp/
Background
Today, Injective introduces the world’s first perpetual market for BlackRock’s BUIDL Fund, a perpetual index product that tracks the supply of the BUIDL fund itself. This listing is made possible through Injective’s recent integration of Stork, a decentralized on- and off-chain price feed.
Now Helix is leading the way as the first platform to list the perpetual market for BlackRock’s BUIDL Fund, offering a new gateway to the tokenized fund with the lowest fees and fastest speeds in the crypto space.
What Is BUIDL?
BUIDL is BlackRock’s first tokenized fund issued on a public blockchain. Also known as the BlackRock USD Institutional Digital Liquidity Fund, BUIDL provides institutional investors access to yield on assets such as U.S. treasuries.
Specifically, the BUIDL token offers a stable value of $1 per token. In addition, token holders get a dividend that accrues daily and is then paid every month. The contents of the fund and source of the yield include cash, U.S. treasury bills, and repurchase agreements. According to recent data from real world asset analytics platform Rwa.xyz, the BUIDL fund has accrued over $500 Million in assets under management which makes BUIDL the largest tokenized fund to date.
How the BUIDL Index Works?
The BUIDL Index brings the world’s first perpetual market for BlackRock’s BUIDL Fund, allowing anyone to gain 24/7 access to tokenized assets such as U.S. treasuries with leverage.
This index was created in collaboration with Stork, a decentralized on- and off-chain price feed. Stork focuses on performance, utilizing ultra-fast WebSockets to ensure data availability at the millisecond level, comparable to the data used for trading in traditional finance (TradFi).
Instead of simply creating an asset that tracks the price of the underlying asset, this index perpetual market tracks the underlying supply of the BUIDL fund itself. This was done due to rising demand in the space for tracking inflows and outflows from the BUIDL Fund, which has, over the past few months, become a barometer for institutional interest in crypto as a whole.
So how does the BUIDL Index work in practice? For example, today there are ~$500 million of BUIDL tokens minted. As the supply of BUIDL tokens rises, the price of the index perpetual also rises. As supply falls, the price of the index perpetual falls. Users are therefore able to take on long or short positions on the index depending on which way they think the market is going. Also, because of the nature of this index perpetual market on Helix, traders have the option to utilize leverage.
The market is based on the fund’s mark price, which fluctuates intraday based on the percentage increase or decrease of supply. Price changes are reflected in the market using a 1-hour TWAP to mitigate any short-term volatility resulting from significant mint or burn movements.
Why Trade BUIDL Index Perps on Helix?
With a diverse array of upgrades, Helix 2.0 marks a significant milestone in the evolution of the protocol, introducing a host of cutting-edge features designed to enhance user experience and broaden trading capabilities. Helix provides completely unmatched exchange, trading bots, advanced order types, an intuitive Swap interface, individual profit and loss overview, 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.
Helix is the first platform that allows BUIDL index perpetual market to be traded alongside new ways to earn with every trade.
Market Details
BUIDL/USDT PERP Market Details
- Underlying market: BUIDL
- Quote asset: USDT
- Minimum price tick size: $0.01 USDT
- Minimum quantity step: 0.001
- Expire: Perpetual (no expiration)
- Maximum leverage: 5X
- Initial margin ratio: 19.5%
- Maintenance margin ratio: 9.5%
- Fee: -0.01% maker fee; 0.05% taker fee
- Trading hours: 24/7/365
How to Trade BUIDL/USDT Perp on Helix?
In order to trade BUIDL/USDT perp market on Helix, you will need to have USDT in your Injective Wallet. The first step is to deposit assets to Injective.
Option 1: Bridge USDT from Ethereum to Injective
- Go to Injective Bridge and connect your wallet;
- Select “Ethereum” from the dropdown menu as the origin source;
- Select “USDT” as the asset to transfer and make sure it has USDT balance;
- Enter the amount of USDT tokens you would like to transfer and click “Review Deposit” and “Confirm”;
- Once the transfer is completed, you can check the USDT balance in your Injective Wallet or the Balances 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 Kado, Transak 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 transfer is completed, you can check the USDT balance in your Injective Wallet or the Balances page on Helix;
- Swap INJ to USDT by using the Swap feature if needed, and then you are all set to trade!
Trade on Helix
- Go to the BUIDL/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
- 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 blockchain 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 BUIDL
BUIDL is the BlackRock USD Institutional Digital Liquidity Fund, a tokenized fund developed by BlackRock that runs on the Ethereum blockchain, providing US dollar yields through tokenization. BUIDL enables investors to acquire tokens that represent shares in the fund, which invests in assets such as US Treasury bills. It provides instant settlement, improved liquidity, and seeks to maintain a stable token value while distributing dividends on a monthly basis. Read more about BUIDL in the launch press release.