Pledge and Lending Rules and Guidance

X网发表于:2018年10月29日 15:49:56

I. Pledge and lending rules

1. Lending ration: 10% - 50%

2. Early warning line 120%

When the OCX price reaches the warning line, the platform will send SMS or email to notify the borrower

3. Margin closeout line: 110%

When the OCX reaches the margin closeout line, the platform will automatically perform margin closeout and send SMS or email to notify the borrower.

The margin closeout price is the current average OCX price.

4. Pledge period and daily interest rate

       ?filename=image.png       

Currency of loan

Currency of pledge

Daily interest rate

Lending ratio

Maximum pledge amount

Early warning line

Margin closeout line

Note:

1. The early warning and closing price take the current weighted average of each OCX transaction, and the pledge price is the weighted average of the OCX transactions in seven days;

2. The platform holds no responsibilities for not notifying users in time due to notification failure of the third party. Users should keep an eye on the account position and the loan expiration time;

3. The pledge part of the OCX pledge no longer enjoys dividends.


II. Frequently asked questions:

1. what can pledge and lending do?

Pledge and lending are similar to property mortgage, if you are holding OCX assets you may choose to pledge your OCX assets to gain USDT, and you may also trade USDT to other digital assets by transactions.

2. Can the position be closed in advance?

Yes, you can be closed in advance. Visit "My assets pledge and lending orders" and click "Close position" and the you will enter the closing position page, then click "confirm". Closing a position requires you have enough USDT in your account. (one-time repayment of principle and interest).

3. Do you consider pledge services of other coins?

Only OCX pledge is available at the current first stage, other coins pledge services will be rolled out based on the market conditions afterwards.

4. If the borrower did not close when it is due, what actions will the platform take?

When the pledge expires and the borrower has not yet closed the position, the platform will automatically perform the forced liquidation operation of the pledge assets and send a text message or email to inform the borrower;

Note: The platform will divide the total amount of principal and interest payable by 80% of the current pledged asset transaction price, deduct the total amount of assets pledged, and return the remaining assets to the borrower;

5. What is the impact of the loan ration?

The lower the loan ratio, the less USDT you get for certain amount of OCX you pledge, the lower the price will be triggered for margin closeout, and the lower the risk of your pledge.

6. Does it require real name verification to make pledge and loan?

All OCX need to complete real name verification to pledge and loan.


III. Tutorial

1. First you need to launch app and click "Pledge and loan" to enter the pledge and loan page.

       ?filename=image.png       

2. On the pledge and loan interface, you can see the maximum pledge quantity and the minimum pledge quantity. Enter the pledge quantity within this range, and select the loan lending ratio (10%-50%). The borrowing asset, pledge price, and margin closeout price will be displayed simultaneously, finally select the pledge cycle, click to submit the order.

       ?filename=WechatIMG158.jpeg    

3. Click on My Asset Pledge order to see information such as borrowed assets, margin, and margin closing price. At the same time, you need to pay close attention to the risk. When the price of the pledge currency ≤ warning line, the platform will notify the borrower by SMS to Compensate or close the position in advance. At this time, you can click to adjust or close the position to operate. When the price of the pledged currency ≤ margin closing line, it will trigger the system to force the liquidation.

       ?filename=WechatIMG13.jpeg       

4. Closing position when it is due: In the My Assets Pledge and Loan Order, click Close Position to enter the closing position page and click to confirm the closing position. Closing a position requires you to have enough USDT in your account and your pledge assets will be thawed.


       ?filename=WechatIMG11.jpeg