FAQs on AscendEX Futures Bonus Credits
Publish on 2021-06-09
Please refer to the FAQs on AscendEX Futures Bonus Credits if you have any problem.
1. What Is Futures Bonus Credits?
Futures Bonus Credits USDTR (equivalent to USDT in value) are virtual assets specially introduced by AscendEX for users to engage in futures trading. They are not real assets.
2. What Are the Purposes of Futures Bonus Credits?
When users trade futures, futures bonus credits can be used as collateral for futures trading or used to cover 50% of their futures trading fees.
3. Can All the Available Futures Bonus Credits Be Used as Futures Margin?
No. There is a 80% discount for futures bonus credits when they are used as futures margin. For example, you have 10 USDTR in your futures account. When you use the 10 USDTR as futures margin, they can only be calculated as 2 USDT.
4. How to Use Futures Bonus Credits to Cover Futures 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 their 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 the 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 (then 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.
5. How to Earn Futures Bonus Credits?
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.
6. How to Claim Futures Bonus Credits?
Futures bonus credits need to be claimed by users manually. Please navigate to AscendEX’s Rewards Center and click on Claim Rewards on the right of the specific task bar to complete rewards claiming.
7. Can Sub-accounts Be Used as Independent Accounts to Participate in Futures Trading and Claim Bonuses?
No. Sub-accounts can’t be used as independent accounts to participate in futures trading and claim futures bonus.
8. Are There Time Limits on Claiming Futures Bonuses after Futures Trading Tasks Are Completed?
No. There are no time limits on claiming futures bonus credits. Once futures trading tasks are completed, you can claim the corresponding futures bonuses you earned at any time.
9. How Soon will the Claimed Futures Bonus Credits Be Credited?
Futures bonus credits earned through registration and deposits are generally credited right after they are claimed. However, it usually takes 48 hours for futures trading-based bonuses to be credited to users’ accounts. If you have any query, please join AscendEX’s official community and turn to 24/7 online services for help.
10. How to Check Claimed Futures Bonus Credits?
Click on My Rewards at Rewards Center or view Collateral on the Futures Account page.
11. Are Users Allowed to Participate in and Claim Futures Bonus Credits as Many as They Want?
No. For each bonus category, eligible users can only receive futures bonus credits once.
12. How to Activate Futures Bonus Credits?
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.
13. Any Time Limits for the Use of Futures Bonus Credits?
Yes. Futures bonus credits are only valid for 60 days after activation. If they are not used within the period, the claimed bonuses will be invalid once they expire.
14. Can Futures Bonus Credits Be Withdrawn or Transferred?
No. Since Futures bonus credits are virtual assets, rather than real assets, so users can not transfer, send or withdraw USDTR.
15. What does Clearance of Futures Bonus Credits Mean？
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.