Dear Users,
To effectively reduce the impact of large positions on market liquidity during forced liquidation and minimize potential significant losses due to bankruptcy, Megabit will implement a tiered scheme to fully adjust the parameters of all perpetual contract trading pairs.
Megabit will determine the maximum position’s notional value and maintenance margin rate for each tier based on the leverage selected by users, in order to manage and balance market risks.
We plan to carry out the relevant parameter adjustments from 12:00 to 20:00 (UTC+8) on October 26, 2024. After the adjustments, the tiered parameters will officially take effect. For detailed parameters, please refer to the “Contract Maintenance Margin Tier Information Table.”
Based on market liquidity conditions, we will also adjust the fee rates for certain contract pairs:
•AAVE/USDT, BCH/USDT, AVAX/USDT
•Before adjustment: Maker: 0.03%, Taker: 0.05%
•After adjustment: Maker: 0.06%, Taker: 0.1%
•JTO/USDT, FLOW/USDT, DYDX/USDT
•Before adjustment: Maker: 0.03%, Taker: 0.05%
•After adjustment: Maker: 0.1%, Taker: 0.1%
To avoid liquidation risks due to these parameter adjustments, we recommend that users reasonably adjust and manage their large positions before and after the parameter changes take effect. Please closely monitor market changes and adjust your positions and leverage multiples according to the new parameters to ensure the safety of your trades.
Best regards,
Megabit Team
October 19, 2024
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