Partnership Announcement

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To enhance the trading experience for our users, we will be adjusting some rules related to the Unified Margin Account. We will be announcing the implementation date for the following changes in the near future. Please keep an eye out for this important update.

The changes in trading rules are as follows:

1. Initial Margin (IM) and Initial Margin Rate (IMR)

  a. After the update, the IMR will no longer increase from the potential liabilities from borrowing assets, as long as the total Margin Balance/Equity remains the same. IMR increases from borrowed assets will only occur when there is an actual liability caused by unrealized or realized losses.

  b. Do also note that such IMR increases from borrowed assets will be raised from 2% to 20% of the actual liability caused by unrealized and realized losses with this update. To prevent a scenario where your IMR increases to 100% immediately after updates are applied and cancels all active orders, please consider adding more collateral before the above date.

2. Maintenance Margin and Maintenance Margin Rate (MMR)

  a. After the update, the MMR will no longer increase from the potential liabilities from borrowing assets, as long as the total Margin Balance/Equity remains the same. MMR increases from borrowed assets will only occur when there is an actual liability caused by unrealized or realized losses.

  b. Do also note that such MMR increases from borrowed assets will also be raised from 1% to 3%  of the actual liability caused by unrealized and realized losses with this update. To prevent a scenario where your MMR increases to 80% or 100% immediately after updates are applied and triggers auto repayment or liquidation, please consider adding more collateral before the above date.

  a. Auto repayment will be triggered for the following scenarios:

    - Loan-to-value ratio = Borrowed Base Coin / (Equity Base Coin + Borrowed Base Coin)

  b. When auto repayment is triggered, assets will be sold at the spot index price at the time of triggering, with no slippage. However, there will be a 2% auto repayment fee.

  c. As the issue with slippage has been addressed, users will no longer have to sell assets worth an additional 5% of the loan amount to ensure sufficient assets for repayment when auto repayment is triggered to account for slippage, and will only have to sell assets worth the amount to be repaid.

Thank you for your understanding and continued support.

To enhance the trading experience for our users, we will be adjusting some rules related to the Unified Margin Account. The updated rules are expected to take effect from Jan 1, 2023.

Upcoming Updates to the Unified Margin Account

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