The SynFutures Hash Rate Futures are designed to be forward looking. Each contract represents the mining reward of the 14 days (2016 blocks to be exact) after the maturity. For example, the contract maturing on 1 May 2021 (block height 681408) represents the mining reward from block 681409 to 683423, or roughly May 1 to 15, 2021. While the contract maturing on 15 May 2021 (block height 683424) represents the mining reward from block 683424 to 685439. If you own some mining power and wish to hedge against mining difficulty changes in a period longer than 14 days, you would need to trade multiple futures that cover the entire period. For example, to hedge from 1 to 28 May 2021, you need to trade both contracts maturing on 1 May 2021 and 15 May 2021. Individual Hash Rate Futures contracts are designed to be basic hedging units that could build a forward curve of the mining difficulty. In SynFutures@v2, we will introduce cross margin for higher margin efficiency to trade cross-tenor contracts.


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