Dear user:
B9 Crypto has been launched [mortgage lending], which currently includes currencies USDT, BTC, and ETH.
Mortgage lending business can use the digital assets held by users as mortgage assets to obtain short-term liquidity and meet the short-term needs of users; the borrowed digital assets can be traded on any product on the platform.
1. Mortgage loan
Mortgage borrowing means that platform users can mortgage designated digital assets to meet the service of borrowing other currency assets, and the borrowed assets arrive in seconds.
2. Which currencies can be borrowed?
A variety of digital assets can be lent including USDT, BTC, ETH, etc. The details are subject to the display on the loan product page.
3. Which currencies can be used as mortgage assets?
Currently, only USDT loans with BTC and ETH currencies as collateral assets are supported.
4. What are the options for the loan term?
Currently you can borrow and repay anytime you want.
5. How to calculate the loan interest?
The interest of borrowed currency is calculated on a daily basis, if it is less than 1 day, the interest will be calculated as 1 day, and the day of the loan is also recorded as 1 day.
Currency interest = borrowed assets × daily interest rate × number of days borrowed.
6. How to repay the currency interest and principal?
You can manually repay on the order page, and the order of repayment is to repay the currency and interest first, and then repay the principal.
7. Is it possible to repay the currency in advance?
Can. Support early repayment of currency, and collect currency interest according to the actual number of days of use.
8. What is the mortgage rate?
Mortgage rate refers to the ratio of the value of assets that can be borrowed (loan amount + accumulated interest) to the value of mortgaged digital assets, and the value of digital assets is calculated using index prices. The initial mortgage rate of different mortgage currencies may be different, and the initial mortgage rate determines the initial amount of borrowable coins.
When the mortgage rate ≥ margin margin rate, the system will remind you to replenish mortgage assets
When the mortgage rate ≥ forced liquidation mortgage rate, the system will immediately carry out forced liquidation settlement
Mortgage rate of each loan order = (loan amount + accumulated interest) / loan currency value of mortgage assets. Accumulated interest is the sum of daily interest.
9. What will happen if the mortgage rate is too high?
If the mortgage rate is higher than the margin call rate, the platform will notify you to replenish the deposit or repay the loan.
If the mortgage rate is higher than the liquidation mortgage rate, the platform will liquidate your mortgage assets to repay your loan.
If the system is unable to force liquidation due to violent price fluctuations or cannot return the loan assets and related currency interest after forced liquidation, or causes other losses to the platform, the platform has the right to continue to recover from you, or deduct your currency The corresponding assets in the currency account are used to repay the outstanding borrowing currency principal and expenses or to compensate other losses of the platform.
10. Service fee
The service fee will only be generated when the liquidation is settled or the mortgage assets are used for repayment. The system will exchange all the mortgage assets into the loan currency at the market price to repay the loan and interest, and charge 10% of the remaining amount as the settlement service fee. Please replenish collateral assets in time to avoid forced liquidation.
11. How to adjust the deposit?
You can adjust the deposit on the order page, and you can replenish the deposit at any time. When your mortgage rate is lower than the initial mortgage rate, you can transfer out the excess mortgage assets.
12. Can borrowed assets be traded in currency, leverage, contract, etc., or a trading platform can be proposed?
Can. The digital assets you borrow can be traded in currency, leverage, contracts, etc. on the platform, and you can also propose a trading platform.
B9 Crypto reserves the right to modify, change or cancel this announcement at any time and for any reason at its sole discretion without prior notice.
Borrowing instructions:
1. You can borrow other currencies by staking digital currency.
2. Mortgage rate of each loan order = (loan amount + accumulated interest) / loan currency value of mortgage assets. Accumulated interest is the sum of daily interest.
3. When the mortgage rate > margin call ratio, the system will remind you to replenish the mortgage assets; when the mortgage rate is forced to equalize the mortgage rate, the system will immediately perform forced liquidation.
4. When forced liquidation or repayment with mortgage assets, the system will exchange all the mortgage assets into the loan currency at the market price to repay the loan and interest, and charge 10% of the remaining amount as the settlement service fee. Please replenish the mortgage assets in time Avoid forced liquidation.
5. Daily interest = loan amount * daily interest rate. The daily interest is not actually deducted from your balance, it is only calculated and included in the accumulated interest, which affects the mortgage rate. The interest on the day of the loan is calculated at the time of borrowing, and the subsequent daily interest is calculated at 0:00 [UTC+8] of the day.
6. After the loan is successful, you can repay partly, repay in full, settle manually, increase or decrease the amount of collateral at any time. The processing logic of manual settlement is consistent with that of forced liquidation.
7. When repaying the loan, give priority to repaying the interest.
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