1.1 In order to regulate digital asset leveraged transactions and leveraged lending behavior, maintain market order, and protect the legitimate rights and interests of investors, these rules are formulated based on the principles of fairness, openness, and justice.
1.2 These rules apply to borrowing, repayment, and leveraged cross-handling transactions on the platform. If there are no provisions in this rule, the "Coinidc Leverage Trading Use Agreement", "User Use Agreement" and other relevant regulations of the platform shall apply.
2. Loan rules
2.1 The amount of currency that can be borrowed refers to the maximum amount that the user can borrow according to the maximum leverage and risk control rules of the current currency supported by the platform. Each currency has a minimum and maximum loanable amount. When the loan principal does not reach the minimum loanable amount, the loanable amount is displayed as 0. At this time, please transfer enough principal to the margin account.
In this rule, the formula for calculating margin is as follows:
Margin total loanable assets = sum ((number of assets-number of borrowed coins) * conversion rate * conversion rate)
Occupied margin assets = sum (number of borrowed coins * conversion rate / (leverage multiple -1))
The number of currencies that can be borrowed = (total borrowable assets for margin-assets occupied by margin) * (leverage multiple-1) / conversion rate
Borrowed assets: indicates the total amount of assets that have successfully applied for loan to the platform;
Available amount: indicates the amount that can still be borrowed from the platform. Please refer to the page display for the maximum borrowable amount;
After the leveraged loan is successful, the platform system immediately begins to accrue interest. Users can buy and sell the borrowed digital assets in trading currency pairs allowed for cross-margin trading.
3. Borrowing interest rates and interest calculation rules
3.1 Coinidc's "second calculation"
Coinidc's leveraged interest calculation uses the "second calculation" function of Coinidc. "Calculation in seconds" means that the loan interest is accurate to every second. The user starts counting from the completion of the loan application to the time when the loan is fully returned. The actual borrowing time is accurately calculated in seconds, and the interest calculation is synchronized to the second. That is, "the actual borrowing for 15 seconds only calculates the interest for 15 seconds." "Calculation in seconds" can save users the most interest costs.
The loan flow refers to a loan record that will be generated after a user successfully applies for a loan, including information such as the start time of the loan, the amount of loans, and the interest generated. This record is the loan flow.
Interest rate refers to the different loan interest rates set by the platform according to different currencies. Users can check the interest rate when using the loan function.
3.2 Interest calculation rules According to the loan flow, interest rate, interest is calculated in seconds, and the system will automatically calculate interest once every hour on the hour.
Loan interest = loan assets * daily interest rate / 86400 * loan time (seconds)
3.3 Loan interest is included in the security degree without settlement or repayment.
4. Repayment rules
4.1 The user can initiate repayment at any time after the loan occurs. When the user repays the loan, the interest is given priority. After the current interest payable is settled, the loan principal will be returned.
4.2 The currency assets of the user's repayment plan must be consistent with the corresponding loan currency assets and cannot be replaced by other currency assets. Therefore, the user must ensure that there are sufficient assets of this type in the margin account at the time of repayment.
4.3 Loan interest settlement refers to the process in which the user returns the current interest during or at the end of the loan process. There are two ways of loan interest settlement: active interest settlement and passive interest settlement. Passive interest settlement means that the system will automatically trigger interest settlement at 8 AM (GMT+8) every day, and automatically return the loan interest that has not been returned by the borrower. Active interest settlement refers to the return of interest when the user makes full or partial repayment.
The final settlement is calculated uniformly when the position is closed and the currency is returned.
The interest accrual and interest settlement currency assets are consistent with their corresponding loan currency assets.
Note: The interest payable seen by the user in the loan record may be different from the actual value of the interest settlement at the time of actual return. The reason is that the "second calculation" will calculate the actual interest payment within the interest calculation cycle, but the actual interest has not been calculated. The interest part. Therefore, the final interest payable shall be calculated based on the actual repayment.
5. Safety rules
5.1 Users who participate in leveraged lending use the net assets in the margin account as the mortgageable assets, and the digital assets in other accounts are not included in the mortgageable assets for cross-margin trading.
In this rule, safety = total market value of leveraged assets / market value of borrowed assets
When the security is greater than the withdrawal line, the assets in the account above the withdrawal line can be transferred to the wallet account.
When the safety level reaches the warning line and the additional line, the system will send you the warning message and additional information in advance via email or SMS.
When the safety level reaches the liquidation line (maintain risk rate), the system will close the position in accordance with the liquidation rules.
5.2 Coinidc has the right to monitor the security of the user's cross-margin account in real time and take corresponding measures based on changes in security.
6. Forced liquidation rules
6.1 In order to better protect the rights and interests of investors, when the safety level reaches the warning line and the additional line, the system will send you the warning information and additional information in advance via email or SMS. When the safety reaches the closing line, the system will close the cross-margin account.
6.2 When the system closes the margin account, it will freeze the margin account and execute the liquidation process, which will force the transaction to sell the assets held in the margin account to repay the loan. After closing the position, when the remaining assets in the margin account are positive, it can be used normally. When the remaining assets are negative, the platform has the right to freeze the user's account and recover related debts.
7. Risk control
7.1 Coinidc will manage the amount of loans. When the amount of loans reaches the upper limit of the total amount of loans set by the platform, the platform will suspend lending operations until the total amount of loans falls below the upper limit. Coinidc will adjust the upper limit of the total amount of borrowing according to the actual operation of the market and the degree of risk.
7.2 In order to better protect the rights and interests of users, the platform will control the maximum borrowable amount of different leverage multiples based on the total amount of borrowing. Coinidc will adjust the upper limit of the maximum borrowable amount of different leverage multiples according to the actual market operation and the degree of risk.
7.3 Investors should pay attention to investment risks and adjust the proportion of positions in a timely manner to avoid risks. All losses due to account triggering of liquidation shall be borne by investors themselves.
8.1 Coinidc provides information release, supervision and risk control services for margin trading and lending, and does not provide any income guarantee and capital preservation commitments for users' leveraged trading business at Coinidc. Investment users should fully realize that leveraged business has greater risks , Self-assess the possible losses and participate voluntarily on the basis of confirming that the risks are controllable and bearable.
8.2 This rule is formulated by the Coinidc platform and will take effect after an announcement to all platform investors, and the same applies when it is modified.
8.3 This rule is interpreted by the Coinidc platform.