To provide our users with better contract trading experience, Bibox decides to initiate a contract trading upgrade at 11 AM on 4/1/2020. Bibox perpetual contract ordering function will be suspended at 10:55 on 4/1/2020. This upgrade will take approximately 1 to 2 hours.
Functions to be affected
Asset transfer and contract trading-related functions will be suspended.
Token trading, margin trading, deposit, withdrawal, and other functions will not be affected.
In this upgrade, Funding Rate Formula will decide the final funding rate and replace the Funding Rate Sheet. The funding rate will be upgraded from a ladder change to a linear change, further pegging the contract market price to the spot market price.
Funding rate = premium index + Clamp (0.01% - premium index, -0.03%, 0.03%)
Refer to the document for more details
We suggest all users should be prepared in advance. Please control the risks by canceling orders, increasing margin or closing position in advance.
Please noted that the estimated upgrade schedule is not final. Please refer to the official announcement, WeChat group or telegram for more updates.
We apologize for the inconvenience this brings to you. Thanks for your support.
Please join in our Bibox telegram group (https://t.me/biboxglobal) for more updates.
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