| General information | |
|---|---|
| Global rank: | 4389 |
| Name: |
1x Long Bitcoin Implied Volatility Token |
| Symbol: | BVOL |
| Current coin price (MOP): | 797.92 MOP$ |
| Last hour: | arrow_downward-31.50 % |
| Last 24 hours: | arrow_downward-63.53 % |
| Last 7 days: | -61.91 %trending_down |
| Capitalisation (MOP): | 0.000000 MOP$ |
| Volume 24h (MOP): | 276 056.46 MOP$ |
| Available supply: | 0.000000 BVOL |
| Algorithm: | ETH Token |
| Start date: | 22/04/2020 |
1x Long Bitcoin Implied Volatility Token/Macanese Pataca (BVOL/MOP) price chart
1x Long Bitcoin Implied Volatility Token/Macanese Pataca (BVOL/MOP) capitalisation and volume charts
BVOL tokens are ERC20 tokens that attempt to track the implied volatility of crypto markets. BVOL tokens get their exposure to implied crypto volatility using FTX MOVE contracts.
There are two BVOL tokens: BVOL and iBVOL. BVOL attempts to track the daily returns of being 1x long the implied volatility of BTC; iBVOL attempts to track the daily returns of being 1x short the implied volatility of BTC.
Each BVOL token gets its price action by trading FTX MOVE contracts. For instance, say that you want to create $10,000 of BVOL. To do so you can send in $10,000, and the BVOL account on FTX buys $10,000 worth of FTX MOVE contracts. Thus, BVOL is now 1x long MOVE.
You can also redeem BVOL tokens for their net asset value. To do that, you can send your $10,000 of BVOL back to FTX, and redeem it. This will destroy the token; cause the BVOL account to sell back the $10,000 worth of MOVE contracts, and credit your account with $10,000.
This creation and redemption mechanism is what ultimately enforces that the leveraged tokens are worth what they're supposed to be.