In order to upgrade Bibox coin-margined contract experience and enrich Bibox coin-margined trading currencies, Bibox coin-margined is undergoing system upgrade. coin-margined trading is expected to resume trading in 2 hours. The recovery time may be advanced or delayed. The specific details please refer to the announcement or join Telegram group: https://t.me/BiboxExchangeEnglish to get latest updates.
1. Upgrade Instruction
- Spot trading and USDT contracts will not be affected;；
- Suspend the coin-margined BTCUSD, ETHUSD trading;
- Suspend contract account fund transfer
2. Add LTCUSD, LINKUSD coin-margined trading pairs
After the recovery of trading, LTCUSD and LINKUSD trading pairs will be added to the coin-margined contract. Welcome to transfer funds to the coin-margined accounts for experience.
3.Description of Bibox coin-margined contract
1) Whatis coin-margined contract?
Bibox coin-margined contract is a derivative product that can provide up to 150X high leverage similar to traditional futures contracts
2) Description of Bibox LTCUSD, LINKUSD coin-margined contract
- No settlement date: coin-margined contract has no expiration time, so there is no restriction on the holding time;
- Anchor spot: In order to ensure the tracking of the underlying price index, the coin-margined contract uses the mechanism of Funding Cost to ensure that its price closely follows the price of the underlying asset;
- Price mark: The coin-margined contract uses a reasonable price marking method to avoid forced liquidation due to lack of liquidity or market manipulation;
- Automatic deleverage: The coin-margined contract uses an automatic deleveraging mechanism instead of an account sharing mechanism to deal with losses caused by liquidation of large positions.
Welcome to join Bibox official （Wechat：BiboxKf-05； Telegram：@bibox_cs）to get latest updates.
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