Dear Poloniex Users,
Poloniex has launched a cross-margin mode to better serve our users. The new mode allows users to borrow and repay assets automatically. All users are welcome to try the brand-new feature with a fully enhanced trading experience. To celebrate the debut of cross-margin trading on Poloniex and to give back to our users, we are launching the "Quiz for Margin Traders: Join to Share 10,000 USDT Airdrop!" campaign. Come and grab a share from the 10,000 USDT prize pool! Details are as follows:
Campaign period: 20 days, January 12, 2023 at 10:00 - January 31, 2023 at 09:59 (UTC)
Campaign Content:
1. Reward for taking the quiz
During the campaign, users who answer all quiz questions with a total margin trading volume of 500 USDT are eligible to share a 5,000 USDT prize pool. The amount of each airdrop is random and up to 5 USDT.
2. Straight-A quizzer
During the campaign, users who give correct answers to all quiz questions with a total margin trading volume of 500 USDT are eligible to share a 5,000 USDT prize pool. The reward will be split in proportion to a user's total margin trading volume. The more you trade with margin, the bigger share you can get.
Quiz Questions:
1. What advantage(s) does margin trading have over spot trading?
a) With the same principal, a higher return can be achieved through leverage.
b) When the price falls, profit can be made by borrowing funds and selling short.
c) Both a and b are correct.
2. If the price of BTC drops from 15,000 to 10,000 and you predict it will keep falling, what is the most appropriate strategy for margin trading?
a) Borrow and short BTC.
b) Borrow USDT and long BTC.
c) Stay put and wait for the price to go up.
3. Does margin trading on Poloniex require manual borrowing and repayment?
a) Yes.
b) No. You can turn on the "Auto-Borrow & Repay" toggle to automatically borrow and repay.
c) Poloniex supports automatic borrowing, but repayments have to be made manually.
4. What is the maximum leverage that Poloniex currently allows for margin trading?
a) Two times
b) Three times
c) Five times
5. Which currencies does Poloniex accept as margin?
a) USDT, BTC, ETH, and TRX
b) USDT, BTC, ETH, and USDD
c) USDT, BTC, and ETH
6. What is the interest calculation period for borrowing in margin trading on Poloniex?
a) Weekly
b) Daily
c) Hourly
7. Which of the following formula is wrong?
a) Margin ratio = Total margin / Maintenance margin
b) Interest = Borrowed * Daily interest rate/12
c) Maintenance margin = Borrowed amount in the currency * Last price of the currency * Maintenance margin ratio of the currency
8. At what margin ratio will forced liquidation be triggered in Poloniex's margin trading?
a) 200%
b) 150%
c) 100%
9. What comments or suggestions do you have for Poloniex's margin trading? (Multiple answers)
a) Increased leverage
b) More choices of currencies as margin
c) Lowered interest rates
d) Improved liquidity
e) More campaigns and rewards
Rules and terms:
- The campaign counts all transactions that include borrowed amount as the total margin trading volume.
- The two types of rewards in this campaign are not mutually exclusive and can be added up. A maximum of 100 USDT can be rewarded to a single user.
- This campaign is not open to market makers or VIP users.
- Reward distribution: All rewards will be distributed within 20 days after the campaign ends. You can log in to your account and view the rewards in Activity > Wallet.
- Users deemed to have used multiple accounts in an attempt to win multiple prizes will be disqualified from this campaign.
- We are unable to distribute rewards or airdrops to customer accounts that are frozen, closed, or based in a prohibited country/region. The list of prohibited countries/regions is as follows: Ontario (Canada), Crimea, Democratic Republic of Congo, Iran, Iraq, Libya, Mali, North Korea, Palestine, Syrian Arab Republic, Somalia, Sudan, Zimbabwe, Afghanistan, Cote d'Ivoire, Yemen, Lebanon, Myanmar, the Chinese Mainland, Cuba, the United States of America and all U.S. territories.
- The rules of the campaign shall be subject to Poloniex's interpretations and decisions, which shall be final. We reserve the right to disqualify any person who is known or suspected to be cheating or violating any rules and regulations set by Poloniex.
Risk warning: There is a risk of forced liquidation in cross-margin trading. Please make rational trading decisions. Thank you for supporting Poloniex!
Poloniex Team
January 12, 2023
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Risk Warning
Cryptocurrency investment is subject to high market risk. Please make your investments cautiously. You are solely responsible for your investment decisions and Poloniex is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. We are committed to providing users with a service that is safer, more efficient, and more reliable for the trading of digital assets.