To encourage users to engage in futures trading, AscendEX is introducing futures bonus credits, a kind of virtual asset denominated in USDTR. Users who open a futures account or complete the futures trading tasks will receive a certain amount of futures bonus credits (USDTR), which can be used as collateral to open orders or to pay for futures trading/funding fees. Please read the following information to gain a better understanding of the terms and conditions of earning and using futures bonus credits.
1. Futures bonus credits (USDTR) are virtual assets introduced by AscendEX aimed at encouraging users to participate in futures trading. Since USDTR bonus credits are not real assets, they are only allowed to be used as collateral or to pay for futures trading/funding fees when users trade futures. Users cannot transfer, send, or withdraw USDTR.
2. When USDTR is used as collateral for futures trading, users should maintain a total amount of non-USDTR assets in their futures account that is greater than their USDTR assets. In addition, a 20% discount rate is offered when USDTR is used as futures margin.
For example, if you have 10 USDTR in your futures account and the total amount of non-USDTR assets in the current account is greater than 10 USDTR, you can use the 10 USDTR as futures margin to start futures trading, which is then converted to 2 USDT based on the discount rate.
3. In addition to being used as futures margin, USDTR can also be used to pay for up to 50% of trading fees. If users use USDTR to pay for their trading fees, the system will automatically calculate users’ daily futures trading fees at 1:00 a.m. UTC and deduct the corresponding amount of trading fees in USDTR while sending the equivalent amount of USDT back to users’ futures accounts.
For example, your current futures account balance is 10 USDTR and you executed several futures trades on that day. At around 1:00 a.m. UTC, the system automatically calculated your futures trading fees for that day at 5 USDT. Since USDTR can be used to cover 50% trading fees, the system automatically deducted 2.5 USDTR from your futures account (the USDTR assets in your futures account were reduced to 7.5 USDTR), while sending the other 2.5 USDT that had been deducted earlier during trades back to your futures account.
4. Users who open a futures account or complete futures trading tasks will be eligible to earn the corresponding amount of USDTR. Please navigate to AscendEX’s Rewards Center to unlock more futures trading tasks to win more futures bonuses.
Please note: Unlocking futures trading tasks on AscendEX is the only way to earn futures bonus credits in USDTR. Note that any activities held by platforms other than AscendEX using the name USDTR for giveaways and transfers may be a scam. Please be careful and do your own research before engaging with these platforms.
5. Futures bonus credits need to be claimed by users manually and activated before use. They are only valid for 60 days after activation. How to activate: a futures trade of any amount is executed within 14 days after futures bonus credits are claimed. If not activated, the claimed futures bonus credits will be invalid if they expire.
6. For each bonus category, eligible users can only receive bonus credits once. If any abusive activity is detected such as the use of duplicate or false accounts, AscendEX will take necessary action that may result in suspension or termination of user accounts.
7. Sub-accounts cannot be used as independent accounts to participate in futures trading or to claim futures bonuses.
8. Before futures bonus credits have been completely used, the withdrawal of any amount of assets from the futures account will lead to the clearance of unused futures bonuses. It’s recommended to withdraw your assets after all your futures bonuses are consumed.
AscendEX reserves the final right on the interpretation and adjustment of these Terms and Conditions.
Please read FAQ: AscendEX Futures Bonus Credit to learn more.