Futures Bonus Credit Terms & Conditions
1. AscendEX’s Futures Bonus Credit USDTR (equivalent to USDT in value) refers to the virtual assets offered by AscendEX to users to trade futures contract on the platform, not real digital assets. USDTR bonus credit can be used as collateral to open orders or to pay for 50% of trading fees.
2. AscendEX adopts Multi-Collateral Mechanism for Perpetual Futures Contracts. The use of USDTR is discounted for margin posting with a haircut of 80% applied. For an example of 10 USDTR bonus, only 2 USDT in value (10 USDTR * 20%) can be used as collateral. USDTR can also be used for trading fee, calculated and deducted daily at 1:00 a.m. UTC. For an example of 10 USDT trading fee, 5 USDTR bonus credit can be used to cover 50% of the trading fee while 5 USDT is credited back to the account.
3. Please note that Futures Bonus Credit cannot be withdrawn, transferred out, or used to cover withdrawal fee. Profits made from trading with USDTR bonus credit will be automatically converted to USDT and can be withdrawn.
4. Futures bonus credit must be claimed manually. To activate the bonus credit, you must trade any futures product at least once within 21 days. After activation, the bonus will be only valid for 60 days.
5. Any asset transfers from futures account to cash account will render all unused bonuses invalid. So, please use up your bonuses firstbefore transferring the assets into futures account.
6. For each bonus category, eligible user can only receive bonus credit once. For any abusing activity detected, AscendEX will take the necessary action and disqualify the user from the event if needed.
7. AscendEX reserves the final right on the interpretation and adjustment of these Terms and Conditions.
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