What is OrangeX Bonus?
OrangeX Bonus is a new product designed to offer traders a risk-free trading experience in a real environment while fulfilling users' requirements for testing platform functionalities and experiencing our products.
How to Obtain OrangeX Bonus?
OrangeX Bonus can be obtained by participating in the activities in the rewards center and other activities such as trading competitions, airdrops, etc
How Can the Bonuses be Utilised?
The OrangeX bonus can be employed to cover potential trading losses or serve as trading margins, trading fees, and funding. The bonus itself cannot be withdrawn, but profits earned from trading using the bonus can be withdrawn in accordance with the stipulated terms and usage rules.
Terms of Use
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The bonus can be directly utilized in the perpetual trading area.
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When covering transaction-related fees (such as trading margin, trading fees, funding fees, etc.), OrangeX will deduct an equivalent amount based on a 50% ratio of the bonus and the user's principal. If the bonus amount is insufficient, the remaining portion will be paid by the user's principal after utilizing all available bonus funds, and vice versa.
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According to the assets composition of the user's perpetual wallet, the profit and loss status when closing a position, there are mainly two situations as follows:
a) If a profit is realized upon closing a position, the full profit amount will be added to the principal, which can be withdrawn.
For example, user A's current bonus balance is 100 USDT, the principal is 100 USDT, and 200 USDT profit is generated when the position is closed; At this time, the assets in A's account are 100 USDT bonus and 300 USDT (100+200) assets that can be withdrawn.
b) In case of a loss upon position closure, the system will deduct assets in proportion to 50% of the bonus and the user's principal until the bonus is fully exhausted.
User A's current bonus balance is 100 USDT, the principal is 100 USDT, and a 100 USDT loss is generated when the position is closed; At this time, the assets in A's account are 50(100-100*50%)USDT bonus and 50(100-100*50%)USDT, which can be withdrawn.
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Please note that the 50% ratio in the above calculation is only a default value. OrangeX may make adjustments according to market changes without further notice. The ratio will ultimately be determined by the user's bonus and principal assets compositions when he opens the position.
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The user's principal can be withdrawn, but the bonus in the asset account cannot be withdrawn.
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Bonus will be cancelled if you convert your USDT to other coins in your perpetual wallet when you have no positions.
Precautions
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OrangeX Bonus is exclusively usable in the perpetual trading area.
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Ensure sufficient principal in your perpetual wallet when employing the bonus to open a position to prevent position opening failures.
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Any withdrawals or transfers from perpetual wallet operations will result in immediate nullification of all bonuses without the possibility of recovery.
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Participants are required to strictly adhere to OrangeX's terms of service. OrangeX retains the right to disqualify users with malicious behaviors, including opening multiple accounts to exploit bonuses or engaging in other actions promoting illegal, fraudulent, or any other harmful conduct.
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OrangeX reserves the ultimate rights of the event and holds the right to amend the Terms & Conditions of the event without prior notice.
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