BlockBeats news, on October 20, Backpack launched a cash subsidy plan for the market flash crash event on October 11. Basis trade (Spot-Contract Arbitrage) accounts: · Accounts with leverage lower than 5 times will receive a 100% subsidy; · Accounts with leverage higher than 5 times will receive partial subsidies based on leverage multiples and market conditions; · Users whose BTC lending positions were passively reduced due to ADL: 100% subsidy; · Funds deposited before settlement: 100% distribution; · All liquidation fees: 50% refund.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Backpack: During a crash, if the account leverage is below 5 times, full compensation can be obtained.
BlockBeats news, on October 20, Backpack launched a cash subsidy plan for the market flash crash event on October 11. Basis trade (Spot-Contract Arbitrage) accounts: · Accounts with leverage lower than 5 times will receive a 100% subsidy; · Accounts with leverage higher than 5 times will receive partial subsidies based on leverage multiples and market conditions; · Users whose BTC lending positions were passively reduced due to ADL: 100% subsidy; · Funds deposited before settlement: 100% distribution; · All liquidation fees: 50% refund.