1. BTMX margin loan interest is calculated and updated on user’s account every hour, different from other margin loans’ 8-hour settlement cycle.
2. When the user borrows BTMX, the Data Usage Fee Owed (in USDT) is calculated and updated on user’s account every hour. The Data Usage Fee Owed will be added to the user’s total Margin Loan, without interest applied. Details will be displayed on the user’s My Asset page under Loan History.
Hourly Data Usage Fee Owed = Daily Data Usage Reward from borrowed BTMX/24
3. For the BTMX available in the Margin Account, the user can request for BTMX margin lock-up on the user’s My Asset page. Data Usage Reward will be posted to the user’s Margin Account.
4. BTMX from Cash Account can be transferred to Margin Account directly. BTMX under lock-up status in the Margin Account can be used as collateral.
5. 10% haircut will be applied for BTMX under lock-up status when used as collateral for margin trading.
6. Forced liquidation priority: unlocked BTMX prior to locked BTMX. When a margin call is triggered, forced liquidation of BTMX under lock-up status will be executed and 10% commission fee will be applied.
7. Reference Price of BTMX forced liquidation = Average of BTMX mid-price over the last 15 minutes. Mid-price = (Best Bid + Best Ask)/2
8. Users are not allowed to short BTMX if there is any BTMX under lock-up in either Cash Account or Margin Account.
9. In the case where the user has USDT loan and owes data usage fee from BTMX loan, any USDT transfer from Cash Account to Margin Account will be applied to the repayment in the following order: data usage fee from BTMX loan > interest from USDT loan > USDT loan.
10. Data usage reward from BTMX under lock-up in the Margin Account will be posted to Margin account. It will serve as repayment for any USDT loan at that time.
11.BTMX interests paid by borrowing BTMX will be transferred to a specific address for permanent lock-up.