Understanding Multiplied Assets: E.g. SHIB1M

Some digital assets, such as SHIB, have very low unit values. Prices with many decimal places, such as USD0.0000123, are challenging for many trading systems. To simplify trading, we introduce multiplied assets, allowing you to trade these assets in larger blocks.

Multiplied asset symbols can be identified through their suffix showing the unit multiplier. It can be either 1M (one million) or 1K (one thousand). For instance “SHIB1M” is one million “SHIB” tokens, traded as a single block.

Perpetual contracts for multiplied assets use multiplied prices as their underlying value. For example, SHIB1M-USDC-PERP contract tracks the value of one million SHIB priced in USDC, which is noted in the contract details. You trade these contracts the same way as regular perpetual contracts.

Mark prices for these perpetual contracts are derived from “Multiplied index prices”. Multiplied index price = Original asset index price * Multiplier. They are available over UI and REST API.

Multiplied spot assets use multiplied prices as their underlying value. For example, SHIB1M-USDC tracks the value of one million SHIB priced in USDC.

See our https://support.exchange.bullish.com/servicedesk/customer/portal/1/article/42041387 to explore multiplied assets and products available in your country.