Users should read and abide by this agreement before using Biking futures transactions. Users must carefully read and fully understand the content of each clause, especially the corresponding clauses that exempt or limit liability, and choose to accept or not accept it.
Unless the user has read and accepted all the terms of this agreement, the user has no right to use the Biking Futures transaction and its corresponding services. The user's actions such as logging in, viewing, and publishing information to the service shall be deemed to have read and agree to the constraints of this agreement.
- Futures service
1.1 The risk of futures trading is very high. As a futures trader, you acknowledge and agree that you should bear the risks of accessing and using futures trading services yourself;
1.2 You should fully understand the risks associated with futures trading, and be fully responsible for any trading and non-trading activities on your Biking account. Do not engage in trading or investment above your financial ability;
1.3 You are fully responsible for knowing the true status of any position, even if the Biking displays it incorrectly at any time;
1.4 You agree to retain a sufficient amount of blockchain assets required by the Biking in your Biking margin account for users to engage in futures transactions, and to repay your loan in full and in time. Failure to maintain sufficient assets may result in forced liquidation of the assets in your margin account;
1.5 Biking may decide to take measures on your own behalf to mitigate your potential losses, including but not limited to transferring your margin account to your exchange account and/or from your exchange account to your margin account;
1.6 During the maintenance period of the Biking system, you agree to be fully responsible for managing your margin account under risk, including but not limited to closing positions and repaying your loan;
1.7 You agree that you will conduct all transactions, futures transactions and/or borrowing by yourself, and take full responsibility for your activities. For any loss or damage caused by your use of any service or because you do not understand the risks associated with the use of assets or the risks associated with your use of our services, Biking will not bear any responsibility;
1.8 The user agrees that all investment operations carried out in Biking represent his true investment willingness and unconditionally accept the potential risks and benefits brought about by investment decisions.
1.9 Biking reserves the right to suspend and terminate futures services and take over user positions. When necessary, Biking platform can suspend, terminate futures services, and take over user positions at any time.
1.10 Due to network delays, computer system failures and other possible irresistible factors, the execution of futures services may be delayed, suspended, suspended or deviated. Biking will try its best to ensure but does not promise the stability and effectiveness of the futures service execution system, but due to the above The final execution result of the futures service caused by factors is different from the customer's expectation, and Biking assumes no responsibility.
- Liquidation, risk reserve and maximum futures profit
2.1 Liquidation engine: When the user's position loss reaches 90%, the liquidation engine will forcefully take over the position for forced liquidation;
2.2 Forced liquidation: When a forced liquidation position is traded at a price lower than the bankruptcy price (a price at which the principal loss is 0), a liquidation surplus will be generated. This part of the surplus will be injected into the risk reserve, and the user will deduct the loss of the liquidation at the time of settlement. ；
2.3 Risk reserve: The risk reserve is established by the platform to provide financial guarantees for maintaining the normal operation of futures transactions and to make up for the funds for losses caused by unforeseen risks of the platform.
2.4 Position limit price guarantee: The platform will calculate a reasonable opening price relative to the current price based on market conditions, risk reserve status, market depth, etc., so that users can ignore the drastic fluctuations in the market when opening a position, according to the point displayed on the page Billing instantly.
2.5 Futures maximum take profit
Position by position: The maximum profit rate of the futures is 1000%. After the maximum profit rate is exceeded, the system will take over your position and settle and close the position for the maximum profit rate of the product.
- Futures prohibitions:
3.1 It is forbidden for users (the system to identify user account risks through multi-dimensional feature identification) to use multiple accounts and devices for illegal arbitrage (including but not limited to handling fees, rebates, bonuses, hedging, etc.). The platform will take corresponding measures for users who are detected by the system as illegal arbitrage (including but not limited to banning, freezing assets, restricting login, real-name authentication, etc.)
3.2 In order to guarantee the normal trading experience of ordinary users, the platform reserves the right to exercise the following measures for users who are detected by the system to use ultra-short-term transactions (ultra-short-term frequent opening and closing of positions):
1) Immediately terminate your account and access to our server, and deduct illegal gains;
2) All transactions that constitute ultra-short-term trading activities are judged to be invalid (that is, the transactions are treated as never happened);
3) According to our current market prices, close all transactions that constitute ultra-short-term trading activities;
4) Increase your holding time (that is, hold a position for a period of time before you can close it).
3.3 Biking strictly prohibits unfair trading behaviors. Biking reserves the right to exercise executive control over your account at its sole discretion if you engage in the following behaviors:
1) Participate in price operations or any other malicious market behavior;
2) May use loopholes in this service or other unreasonable means to harm other users or the Biking
3) Participate in any other activities that Biking considers harmful to the market.
I have read and agreed to the futures service agreement, and agreed to use the Biking futures business.