What is the Margin Borrowing Interest Rate?
Margin Borrowing Interest is the interest that needs to be paid for borrowing digital currency in a leveraged transaction, which is calculated from the amount of borrowed currency and the interest rate of the borrowed currency.
The Margin Borrowing Interest Rate of each currency changes in real time according to its corresponding deposit amount and loan situation, and is updated every hour. The specific Margin Borrowing Interest Rate is subject to the page display.
The Margin Borrowing Interest Rate is determined by the user’s VIP level. VIP1-5 users enjoy preferential interest rates, which can be viewed on the rate standard page.
The Margin Borrowing Interest Rate rules
- Interest calculation rules:
- Interest is calculated independently for a single loan order, and is calculated based on the interest rate at the time of loan. Interest will be calculated for the first time when the loan is successful, and interest will be calculated every hour thereafter, and it will not be calculated for less than an hour.
- Token repayment rules:
- Priority is given to repaying the earliest loan order. Prioritize the repayment of interest and then repayment of principal. After the principal and repayable interest of a single loan order are fully repaid, the status of the single loan order will be converted to paid off, and the order will no longer accrue interest thereafter.
- Borrowing cycle
- Currently 10 days, the automatic renewal function is enabled by default, and the loan will be automatically repaid if the loan is not paid off within the specified time.
- Automatic renewal
- Renew according to the latest loan interest rate and loan cycle.
- About renewal notice
- If the automatic renewal of the loan order is not enabled, the loan expiration warning notification will be triggered 72 hours before the order expires, 24 hours before the order expires, 8 hours before, and 1 hour before the order expires. If automatic renewal is turned on, but the loan pool balance is insufficient and the renewal fails, a renewal failure notification will be triggered to remind the user to take the initiative to repay the currency, and the order expiration time will be automatically extended by 24 hours. After 24 hours, if the user does not take the initiative to repay the currency, the system will trigger the automatic renewal again. If the renewal still fails, the automatic currency repayment process will be triggered.