🔈 Announcement - Index Change for Linear USDC Perpetuals Date - 15 July 2025 Tuesday To prepare for the upcoming launch of BTC_USDC and ETH_USDC options in the near term, Deribit will reduce the cross collateral haircut on USDC collateral to 0%. In addition, Deribit will peg the BTC_USDC and ETH_USDC index to the BTC_USD and ETH_USD index. This means the upcoming USDC-settled BTC and ETH options and futures will settle on the same delivery prices as the BTC and ETH-settled options and futures. This allows for more efficient hedging and margining between the BTC/ETH-settled and USDC-settled products. This index change will also affect the BTC_USDC-PERPETUAL and the ETH_USDC-PERPETUAL. To be clear, this means that parity between USD and USDC is assumed. For the valuation of collateral under X:SM and X:PM, we will still use the USDC/USD conversion rate to calculate equities and margin balances in USD. Impact on open positions: Existing open positions will have a minor change in exposure value reflecting the difference between the two indices. This value difference will be proportional to your position size and can be positive or negative depending on whether you hold a long or short position. Note that this change in value relates only to the equivalent USD value of the position. The position size in e.g. BTC will remain unchanged.