Dear BitMax.io Users,
BitMax.io will conduct a system upgrade at 9:00 p.m. EST on Feb 21st, 2019. The upgrade will include the following:
1. To enable max leverage up to 5X and 10X for margin trading.
Tokens eligible for 3X leverage: XLM, ZEC
Tokens eligible for 5X leverage: BCH, ETC, NEO, ONT
Tokens eligible for 10X leverage: BTC, ETH, XRP, EOS, LTC, USDT
- Users can update account margin preference (3x,5x, and10x) on the Margin Trading page.
- To update for lower margin ratio, current margin ratio must remain smaller than the new margin ratio. Otherwise, the request will be rejected.
2. To update Margin Trading page
- Add “Sell All’ function on the Margin Trading page for ease of closing out all the position.
- Remove Max Borrowable and add Cushion Rate under Margin Asset.
Cushion Rate = Net Asset / Effective Maintenance Margin (EMM)
When Net Asset is lower than 1.2 times of EMM, the user will receive a margin call via email.
When Net Asset is lower than EMM, the user’s margin account will be subject to liquidation.
3. To launch USD(S) Market
To further expand our support of stable coin trading, USDT market has been updated to USD(S) market.
New trading pairs will be enabled at 10 a.m. Feb 22nd: BTC/PAX, ETH/PAX, BTC/USDC, ETH/USDC
All trading pairs above are eligible for both reverse mining and regular trading.
4. The following changes to be made in preparation for adding BTMX to margin trading in the future:
1. To update trading fee for BTMX and extend referral rewards to trading BTMX
2. To enable immediate BTMX unlock function with commission fee at 10% of total unlocked amount. Users can submit the request on the Lock-up Details page. BTMX tokens consumed for commission fee will be subject to permanent lock-up.
Note: BTMX locked for Data Usage Reward Distribution Multiplication is not eligible for immediate unlock function
5. Other update
Reward Distribution Multiple Card sale is scheduled at 7:00 p.m. EST on Feb 22nd. BTMX under lock-up for Data Usage Reward Distribution Multiplication can be used for card purchase.
Thanks for the continued support!
Feb 20th, 2019