Announcement on BITCOIN U-margined Perpetual Contract Adjustment (2023-07-23)

Dear LBank users,

LBank Futures will make adjustments to the leverage and margin tiers of the USDⓈ-M BITCOINUSDT Perpetual Contract on 2023-07-28 at 09:00 (UTC).

Existing positions opened before the update will be affected. It is strongly advised to adjust the position and leverage prior to the adjustment in order to avoid any potential liquidation. 

Maximum Leverage & Risk Limit of the USDⓈ-M BITCOINUSDT Perpetual Contract:

LBank Futures will increase the funding rate settlement frequency of USDⓈ-M BITCOINUSDT Perpetual Contract from every eight hours to every one hours starting from 2023-07-28 at 09:00 (UTC).

Notes:

• Capped Funding Rate = clamp (Funding Rate, -1 * Maintenance Margin Ratio, 1 * Maintenance Margin Ratio). For more on funding rate, please refer to Introduction to LBank Futures Funding Rates.

• The funding rate settlement frequency will be increased from every eight hours to every one hours starting from 2023-07-28 at 09:00 (UTC).

• Maintenance margin rate change will affect the funding rates of the USDⓈ-M BITCOINUSDT Perpetual Contract. For more details on funding rate, please refer to Introduction to LBank Futures Funding Rates.

• In order to protect the users and prevent potential risks in extremely volatile market conditions, LBank Futures may undertake additional protective measures toward the USDⓈ-M BITCOINUSDT Perpetual Contract without further announcement, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates such as the interest rate, premium and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price.

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If you have problems, please contact LBank official email: service@lbank.info, and we will provide sincere, friendly and immediate service. We also welcome you to join LBank official English community to discuss the latest issue (Telegram): https://t.me/LBank_en.

Risk Warning: Investing in digital assets is extremely risky. Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and LBank is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. This material shall not be construed as financial advice in any case. LBank reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reason without prior notice.