Dear BitMax.io Users,
BitMax.io will enable margin trading for BTMX under the trading pairs of BTMX/USDT and BTMX/BTC from 10:00 EDT,Mar 14th, 2019.
BTMX daily interest rate: 0.08% (calculated every hour)
BTMX daily interest rate paid by points: 0.04% (calculated every hour)
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. 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.
6. Reference Price of BTMX forced liquidation = Average of BTMX mid-price over the last 30 minutes. Mid-price = (Best Bid + Best Ask)/2
Thanks for the continued support.
Mar 11th, 2019
Telegram group: https://t.me/BitMaxioEnglishOfficial