Nftperp, a prominent NFT perpetual contract trading platform, has made a significant announcement, deciding to concentrate its efforts on the Blast blockchain. As part of this strategic shift, the platform will be closing down the Arbitrum market, effective immediately.

Traders on the Arbitrum market are advised to adjust their positions accordingly, as the platform will no longer be accepting new positions. To ensure a smooth transition, Nftperp has implemented several measures. The initial margin requirement for new positions will be increased to 50%, equivalent to a two-fold leverage, starting from today.

Additionally, all unsettled positions on Arbitrum will be automatically settled on Monday, June 3rd. This settlement will be based on the tracking index price of the past seven days. Nftperp has urged its users to complete their transactions before this date to manage their positions as needed.

The decision to close the Arbitrum market and focus on the Blast blockchain is a strategic move by Nftperp to optimize its resources and improve its overall performance. By concentrating on a single blockchain, the platform can better serve its users and provide a more streamlined trading experience.

In conclusion, Nftperp's decision to shift its focus to the Blast blockchain and close the Arbitrum market is a significant development in the world of NFT perpetual contract trading. The platform's commitment to providing a seamless transition for its users is a testament to its dedication to delivering the best possible experience for its traders.