By participating in the event, you agree to the following Event Terms and Conditions:
- AscendEX’s Futures Bonus Credit USDTR (equivalent to USDT in value) refers to the virtual assets offered by AscendEX to users to trade futures contract on the platform, not real digital assets. USDTR bonus credit can be used as collateral to open orders or to pay for up to 50% of trading fees.
- AscendEX futures adopt Multi-Collateral Mechanism. USDTR is discounted when used as collateral with a haircut of 80% applied. For an example of 10 USDTR bonus, only 2 USDT in value (10 USDTR * 20%) can be used as collateral. In this case, users must hold non-USDTR assets greater than USDTR assets in the futures account. USDTR can also be used for trading fees, calculated and deducted daily at 1:00 a.m. UTC. For an example of 10 USDT trading fee, 5 USDTR bonus credit can be used to cover 50% of the trading fee while 5 USDT is credited back to the account.
- Please note that Futures Bonus Credit cannot be withdrawn, transferred out, or used to cover the withdrawal fee. However, profits made from trading with USDTR bonus credit will be automatically converted to USDT and can be withdrawn.
- Futures bonus credit must be claimed manually. To activate the bonus credit, the user must trade any futures product at least once within 14 days. After activation, the bonus credit will be only valid for 60 days.
- Any asset transfers from futures account to cash account will render all unused bonuses invalid. Therefore, it is recommended to use up valid bonuses before transferring any assets from the futures account into a cash account.
- One day is set from 12 a.m. UTC to 12 a.m. UTC the next day. Only deposits and trading activities under futures accounts after June 29, 12 a.m. UTC, 2021 will be eligible for the event.
- For each bonus category, eligible users can only receive bonus credit once. For any abusive activity detected such as the use of duplicate or false accounts. AscendEX will take the necessary action that may result in suspension or termination of user accounts if warranted.
- AscendEX reserves the final right on the interpretation and adjustment of these Terms and Conditions.