Bitcoin derivatives exchange LedgerX, announced today it is soon launching an options contract involving the next Bitcoin halving date. The Bitcoin block mining reward halves every 210,000 blocks. On the next halving, the coin reward will decrease from 12.5 to 6.25 coins.
The LedgerX Bitcoin Halvening Contract (LXHC) that will soon launch is the world’s first US-regulated binary options contract to hedge and speculate on when the next block halving will take place.
The LXHC will initially be listed for 5 different expirations all 4 PM EST:
- March 27th, 2020
- April 24th, 2020
- May 29th, 2020
- June 26th, 2020
- July 31st, 2020
The specifications of this contract payout are the following:
If block #630,000 is mined on or before the timestamp of that expiration, then the payout for one contract is $100. If not, then the contract buyer receives zero.
