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On January 31, 2025, Crypto.com | Derivatives North America (CDNA) will introduce a new swap event contract based on the Melania cryptocurrency (MELANIA). The MELANIA Crypto Event Contract will join CDNA’s expanding suite of cryptocurrency derivative products, as the exchange responds to growing public demand for diverse and regulated financial instruments in the crypto sector.
Since 2014, CDNA has been offering Event Contracts and Call Spread Contracts on Bitcoin, and between 2022 to 2024, the exchange has certified a variety of cryptocurrency contracts, including those for Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and others. The combined trading volume of these contracts since their inception has surpassed 39 million, demonstrating significant market engagement.
The MELANIA Crypto Event Contract, detailed in Rule 13.29, is structured similarly to the BTC and ETH Event Contracts that CDNA certified on April 10, 2023. It will feature Intraday Contracts and nine strike levels, with an Expiration Value detailed in the product specifications. Settlement payouts for the MELANIA contract will range from $10 to $100 or result in a payout of $0, consistent with the structure of other Event Contracts offered by the exchange.
Trading for the MELANIA Crypto Event Contract will begin at 11:00 pm ET on the Start Date, following the expiration of the previously listed Event Contract. CDNA has secured at least one dedicated Market Maker to ensure liquidity for the MELANIA contract.
The Index Value for the MELANIA Crypto Event Contract will be calculated every second using the Exchange Calculation Method. This involves taking the midpoints of all bids/asks in the relevant underlying markets, as reported by Lukka, Inc. Data Feed, and removing the highest and lowest twenty percent of the midpoints to determine the Index Value. This process requires a minimum of twenty-five bids/asks midpoints captured within a sixty-second period to ensure accuracy and reliability.
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