Our One-minute Digest
Nov 14 – Nov 20, 2020
- Currently listed a total of 154 tokens with the product offering BTMX Investment Multiple Card, Airdrop Multiple Card, Staking Service, BTMX Investment, etc. for potentially higher rewards.
- Support up to 25X leverage for BTC, ETH and USDT in Margin Trading. Also, there will be NO more Maximum Account Leverage restriction based on user account’s Margin Net Balance.
- Implemented email notification of Daily Interest Rate Adjustment for Margin Trading to keep users updated.
- Users can now edit [Favorites] in the latest App version for a more customized experience.
Activity in Spotlight
- "VIP Boost" Program underway: users who submit the screenshots of their VIP info on other platforms (30-day trading volume) will be eligible for the "VIP +1" level on BitMax.io for 30 days.
- Enter the first "Margin Master" Trading Contest to win great prizes!
Time: Nov 20, 10:00 a.m. EST to Nov 27, 10:00 a.m. EST
- First Time Margin Traders with Total Trading Volume ≥ 500 during the event to win 5 USDT worth of reward;
- Complete Net Transfer, Margin Trading Volume and other tasks to earn points and share 3,500 USDT total rewards;
- Rank FIRST for two consecutive contests to win an iPhone 12 Pro Max!
- PLOT promotions successfully ended. Winners get to share 50,000 USDT worth of total rewards.
DeFi Project Highlights
- HARD Protocol (USDX): deposit USDX to farm HARD with 22.8% est annualized yield via Yield Farming.
- HARD Protocol (HARD): deposit HARD to farm HARD with 210.6% est annualized yield via Yield Farming.
- Distribution Pool: 2,329,517 USDT
- Total Est. Daily Profit/1MM BTMX This Week: 181 USDT
- Diverse global communities with 66,679 users from Korea, Russia, India, Turkey, Vietnam, Italy, etc., up by 441 over last week.
Social Media Matrix
BitMax Official Twitter Account: 55,793 followers.
Learn with Us - What is Cushion Rate
Cushion Rate serves as an essential metric to assess the risk level of a Margin Account. It is calculated as below:
Cushion Rate = Net Asset in Margin Account / Account's Minimum Margin
The higher the Cushion Rate, the lower the account risk.
- When Cushion Rate dips below 1.2, the user will receive a margin call via email.
- When Cushion Rate drops to 1.0, the user’s margin account may be subject to liquidation anytime.
- When Cushion Rate falls below 0.7, or the Cushion Rate still does not exceed 1.0 after the liquidation, the user's position will be sold to BLP (Backstop Liquidity Provider) to reduce risk exposure.