BTMX margin loan interest is calculated and updated on user’s account every hour, different from other margin loans’ settlement cycle.
For the BTMX available in the Margin Account, users can subscribe to BTMX Investment Product on the user’s My Asset - BTMX page. Daily return distribution will be posted to the user’s Margin Account.
BTMX Investment quota in Cash Account can be transferred to Margin Account directly. BTMX Investment quota in the Margin Account can be used as collateral.
10% haircut will be applied for BTMX Investment quota when used as collateral for margin trading. When BTMX investment quota causes the Net Asset of Margin Account lower than Effective Minimum Margin, the system will reject the product subscription request.
Forced liquidation priority: BTMX Available prior to BTMX Investment quota. When a margin call is triggered, forced liquidation of BTMX investment quota will be executed and 10% commission fee will be applied.
Reference Price of BTMX forced liquidation= Average of BTMX mid-price over the last 15 minutes. Mid-price = (Best Bid + Best Ask)/2
Users are not allowed to short BTMX if there is any BTMX Investment quota in either Cash Account or Margin Account.
Once there is BTMX available from investment redemption in user’s account, the user can short BTMX.
Daily return distribution of BTMX Investment Product will be posted to Margin Account. It will serve as repayment for any USDT loan at that time.
BTMX interests paid by borrowing BTMX will be deemed as consumption.