What are Futures Protection Credit?

Futures Protection Credits are benefits that users can enjoy when trading futures on AscendEX. The exchange rate for the bonus to USDT is 1:1. These bonuses are used to offset account losses by a certain percentage when there is a net loss from closing positions in the Futures account.

 

How to claim Futures Protection Credit?

1. Log into your AscendEX account with your PC or App. Go to Rewards Center > Futures Bonus.

For PC:

For APP:

 

2. Complete the futures tasks on the page to claim corresponding Futures Protection Credit.

3. You can view the detailed information of the offset bonuses you’ve got, including value, offset ratio, expiration date, and remaining value, by navigating to Futures Bonus> My Rewards.

How to use Futures Protection Credit?

  1. Futures Protection Credit will automatically offset account losses only when all positions in your Futures account are closed.
  2. There is an offset ratio limit for the Bonuses, which is subject to the ratio specified on each Bonus. The specific offset amount is calculated as follows: Offset amount = Net loss value after closing positions * Offset ratio. The maximum offset amount is the value specified for each Bonus.
    For example, if you have a Futures Protection Credit with a face value of 50 USDT and an offset ratio of 20% in your Futures account, and your net loss after closing positions is 10 USDT, the bonus will offset 2 USDT (10 USDT * 20%) from your trading loss based on the ratio.
  3. When there are multiple Futures Protection Credits in your account, they will be used sequentially according to bonus distribution time.

 

How to check the usage records of Futures Protection Credit?

Method 1. Go to Orders > Futures > Financial Record, and you can view the usage records of your Futures Protection Credit. 

Method 2. Go to Futures trading page > Financial Record to view the records.

How to check the remaining amount of futures loss offest bonuses？

Method 1. Go to Futures Bonus - My Rewards, and you can view the remaining amount of your Futures Offset Bonuses.

Method 2. Go to Futures trading page > Contract Info to viewthe remaining amount of your Futures Offset Bonuses.

 

Terms and conditions

  1. Futures Protection Credits are virtual funds and not real assets. They can only be used for our perpetual futures trading and futures copy trading products. They cannot be transferred, gifted, sold, or withdrawn.
  2. Each Futures Protection Credit has a validity period - currently 21 days. Any unused offset bonus will become invalid and cannot be used after expiration.
  3. If any amount of assets is withdrawn from your Futures account before all Futures Protection Credits are consumed, the Bonuses will be reset to zero. It is recommended to use up all the bonuses before making any withdrawals.
  4. Futures Protection Credit must be used in conjunction with your own funds. After the position is taken over, any losses generated will not be deducted by offset bonuses.
  5. Sub-accounts are not eligible to claim the Futures Protection Credit.
  6. In case of any fraudulent behavior found, such as bulk registration to obtain multiple Futures Protection Credits, AscendEX reserves the right to disqualify the account from participating in the event and reclaim the distributed offset bonuses.
  7. AscendEX reserves the right to interpret the Futures Protection Credit, including but not limited to modifying, changing, or canceling the bonuses without prior notice.