According to the BitMEX blog, BitMEX has officially updated the Mark Method for the ZROUSDTZ24 trading pair to mark the fair price. This change took effect on June 25, 2024 at 08:00 UTC.
New index for ZRO price
The correction is made possible by building a robust index that accurately represents the spot price of ZRO. The new pricing mechanism, known as the .BZROT index, aggregates data from several popular exchanges, including Binance, Bybit, OKX, Gate.io, and Kucoin.
Impact on Transaction Protection
With the implementation of fair price marking, BitMEX also removed price limits and limit price protection for the ZROUSDTZ24 trading pair. These protections were previously put in place to prevent extreme price volatility.
The exchange emphasized that the new Mark Method aims to provide a more accurate and fair representation of the ZRO market by leveraging data from a variety of exchange pools.
Traders with any questions about this update are encouraged to contact BitMEX Support for further assistance.
Image source: Shutterstock