Bybit CEO responds to modifying ZEC contract parameters: All adjustments have a complete workflow archive, and manual adjustments are based on market decisions to protect users
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Planet Daily News: Bybit CEO responded on X platform regarding the modification of ZEC contract parameters and disclosed the complete timeline: 2025-04-08 3:13 UTC, Binance ZEC price fluctuated around 5%, causing Bn to be occasionally excluded and then added back. In this situation, the index price was unstable, which was unfavorable to users; therefore, the threshold was manually raised to 10%. 2025-04-13 03:54 UTC, Binance ZEC price triggered the 10% deviation threshold and was automatically excluded. 2025-04-13 04:32 UTC, Binance ZEC deviation remained around 10%, briefly re-entered and then excluded again. 2025-04-14 01:58 UTC, Binance automatically re-entered. 2025-04-14 08:04 UTC, Binance was automatically excluded and then re-entered after a short period. 2025-04-14 08:49 UTC, due to Bn's frequent exclusion/re-entry, the component weight limit of Bn was set to 50%. 2025-04-14 09:12 UTC, Binance was briefly excluded and then re-entered. Given Bybit's principle of providing fair prices and preventing unstable price sources or abnormal fluctuations from impacting users, the risk control adjusted the ZECUSDT median deviation threshold from 10% to 20%; effective from 09:28 until now. All adjustments have complete workflow documentation, and manual adjustments were made to protect users based on market conditions.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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