DeeBit Futures derivative trading risk
DeeBit Futures Trading (hereinafter referred to as the "Service") is a virtual financial asset derivative trading service launched by DeeBit Limited (hereinafter referred to as "DeeBit"). It is designed, managed and operated by DeeBit. To enable DeeBit Futures Trading, you must fully read, understand and agree to this "DeeBit Futures Trading Usage Agreement" (hereinafter referred to as the "Agreement"). Before choosing to accept this Agreement, please read all terms and conditions carefully.
Please remember that you will not be able to use the service until you agree to the terms of the agreement. By directly accepting the agreement or using the service, you acknowledge that you have agreed to the terms of the agreement.
The derivative trading services provided by DeeBit Futures trading platform have high leverage and risk. Users need to agree to this agreement when opening high-leverage derivative trading. This behavior also represents that users fully understand and recognize the risks of trading digital asset and RWA derivatives on DeeBit Futures trading platform.
Preface
This risk warning aims to reveal the high leverage investment risks of digital asset derivative trading to investors, and help investors evaluate and determine their own abilities. In view of the existence of investment risks, investors should carefully read this risk warning before confirming this agreement and conducting Futures trading, ensure understanding of the nature and rules of Futures trading, and decide whether to participate in Futures trading based on their investment experience, goals, financial situation, and risk tolerance.
Investors should seek legal and other independent professional advice before applying for high-leverage Futures trading.
Eligibility to use the service
1)You acknowledge and agree that:
(I) You have agreed to the "DeeBit Terms of Service", and you are eligible and not prohibited from using the "Services" defined therein.
(Ii) This Agreement does not violate the laws of the country or region in which you are located.
(Iii) You are the legal owner of the virtual assets deposited in this service and guarantee that the source of these virtual assets is legal.
2)You are aware of and assume the risks of using this service, including but not limited to:
(I) The prices of virtual assets and their derivatives fluctuate greatly, which may cause huge or total losses in a short period of time;
(Ii) Insufficient virtual assets deposited as margin may result in your positioning being liquidated immediately, and you may lose all virtual assets deposited in the service;
(Iii) technical violations may occur, which may delay or prevent your use of the service;
Market anomalies may occur, which may result in the loss of your virtual assets.
(V) In order to maintain the overall health of the market, DeeBit needs to add, delete, or change policies from time to time. Such behavior may benefit or harm individual users like you.
3)You acknowledge and agree that:
(I) You may not use this service for any illegal purpose.
(Ii) You will not initiate or promote any form of market manipulation.
Existing risks
1)Price fluctuation risk
As a special product with investment value, the price of digital currency fluctuates greatly due to various factors, making it difficult for investors to fully grasp in actual operation. Therefore, there is a possibility of investment mistakes. If the risk cannot be effectively controlled, investors may suffer significant losses, and all losses caused by this should be borne by themselves.
2)Transaction risk
Investors need to understand that derivative trading has the characteristics of high leverage, which may lead to quick profits or losses. If the trading direction is opposite to market fluctuations, it may cause significant losses. Depending on the amount of losses, investors need to add digital currency margin or reduce positions, otherwise their positioning may be forcibly position squaring, and investors should bear all losses caused by this.
(Ii) In the exchange trading system, once the limit order submitted is executed, it is irrevocable, and investors must bear the risks that may arise from this.
(Iii) DeeBit does not guarantee investors' profits and does not share profits or risks with investors.
3)Policy supervision risk
Digital asset derivative trading may face policy regulatory risks in certain jurisdictions. Investors need to make prudent judgments on the premise of understanding the policy regulatory background of the trading area in advance.
4)Other possible risks
When users use high leverage, it may bring greater risks to them. In order to maintain market stability, this webpage may monitor the positions of high leverage users. When the webpage determines that the user's position may have a significant impact on market stability, corresponding measures will be taken, including but not limited to communication, risk disclosure, forced reduction, forced position squaring, etc., and corresponding handling measures and written explanations will be given to the user.
(Ii) The derivatives trading rules of the digital asset derivatives market, including but not limited to adjustment coefficients, expiration dates, product rules, etc., can be modified according to the actual operation of the webpage. If the webpage needs to deliver the product in advance or late due to special circumstances, the user should handle it in a timely manner after fulfilling the notification obligation through the official website announcement or SMS notification, and the user shall bear all possible losses or profits arising therefrom.
Note:
Investors should fully understand the basic knowledge and related risks of digital currency Futures trading in advance, as well as the relevant business rules for participating in derivative trading.
The above risk items in this risk warning are only listed in nature and do not list in detail all risk factors related to digital asset derivative trading. Investors should also carefully understand and master other possible risk factors before participating in digital asset derivative trading.
We sincerely hope and suggest that investors carefully decide whether to participate in this Futures transaction based on their own risk tolerance and other actual situations, and reasonably allocate their digital assets.
Limitation of liability
1)You acknowledge that you have a thorough understanding of the rules and policies related to the service. DeeBit will not be responsible for any losses caused by your misunderstanding of the rules and policies. In particular, in order to open or maintain your positioning, the amount of virtual assets deposited as margin needs to meet certain requirements. If the requirements are not met, mandatory position squaring will be triggered. When a strong period occurs, you may lose all virtual assets deposited as margin.
2)Your transaction information is officially effective at the time of settlement. The information displayed between consecutive settlements is for reference only and cannot guarantee the implied official result. According to the settlement information provided, your actions may cause losses. DeeBit is not responsible for any losses you may suffer.
3)In order to comply with changes in laws or regulations, or to maintain the overall health of the market, DeeBit will need to decide to change policies, rules, or implement emergency rules from time to time. Such changes or implementations may result in temporary inaccessibility of your account, withdrawal from your account, immediate closure of some of your positioning, or interruption of other services. DeeBit is not responsible for any losses you may suffer.
4)DeeBit is not responsible for any losses caused by circumstances beyond its control, including but not limited to:
A.During the system shutdown and maintenance period announced by A. DeeBit platform.
B.Telecommunications equipment malfunctions and cannot transmit data.
C.Due to force majeure factors such as typhoons, earthquakes, tsunamis, floods, power outages, wars, terrorist attacks, etc., the DeeBit platform system is hindered from performing business.
D. Service interruption or delay caused by reasons affecting the normal operation of the network, such as hacker attacks, computer virus intrusion or outbreak, technical adjustments or failures in the telecommunications department, website upgrades, bank issues, temporary closures caused by government regulation, etc.
E. Losses caused by technical problems that cannot be predicted or solved by Prior Art in the industry.
F. Losses caused to you or other third parties due to the fault or delay of a third party.
5)Due to unexpected factors such as system failures, network issues, DDos and other hacker attacks that cannot be attributed to DeeBit, abnormal transactions, market interruptions, and other possible abnormal situations may occur. DeeBit has the right to cancel transactions or roll back transactions for a certain period of time according to the actual situation. DeeBit is not responsible for your above losses.
6)You understand that sometimes technical failures may occur unexpectedly. DeeBit is not responsible for any losses caused by technical violations, including but not limited to:
- Service connection loss, delay, interruption, or other failure.
- Service stops, slowdowns, unresponsiveness, or other failures due to overload.
- Due to the inability of this service to correctly retrieve necessary data from third parties via the Internet, it has malfunctioned.
7)DeeBit strictly prohibits improper trading practices. DeeBit reserves the right to exercise administrative control over your account at its sole discretion if you:
- Participate in price manipulation or any other malicious market behavior.
- May harm other users or DeeBit by exploiting vulnerabilities in this service or other unreasonable means.
- Participate in any other activities that DeeBit deems harmful to the market.
- In order to eliminate any adverse effects on the overall health of the market, DeeBit reserves the right to take the following measures, including but not limited to closing your account, limiting, suspending, and canceling transactions, and rolling back transactions.
- DeeBit is not responsible for any losses caused by taking the above measures.
DeeBit also reserves the right to take action, including but not limited to closing your account, restricting transactions, stopping transactions, canceling transactions, and rolling back transactions, to eliminate any adverse effects on the overall health of the market. DeeBit is not responsible for any losses caused by such actions against you.
Other
1)This agreement also includes various system specifications of DeeBit, other agreements or rules in the attachment to this agreement, DeeBit Coin Margin Futures User Guide, DeeBit USDT Margin Futures User Guide, and other relevant agreements and rules related to this service that DeeBit may release from time to time. Once the above content is officially released, it becomes an integral part of this agreement and you should also abide by it. If there is any conflict between the above content and this agreement, this agreement shall prevail.
2)DeeBit reserves the right to unilaterally modify this Agreement (including the above content) when necessary. Such modifications may occur at any time without prior notice. If there are any changes, the modified content will be immediately posted on DeeBit's website. Please check the latest information posted therein for any changes. Your continued use or access to the service after posting any changes indicates your acceptance of these changes. If you do not accept the modified content, you should stop using the relevant service.
3)You should carefully read this Agreement and any documents mentioned therein. If you have any misunderstandings about this Agreement and any documents mentioned herein, you should discuss the matter with DeeBit and seek necessary clarification. Unless otherwise stated, any formal communication with you will be conducted by email. Documents will be sent to you by email, and you should try to send any documents to us in the same way. In addition, you can also contact us by phone. Unless otherwise agreed, any formal communication with you will be conducted in English. If there are any differences between the English version of this Agreement or any such communication and any foreign language translation of this Agreement or such communication (if applicable), the corresponding English version shall prevail. In the event of any discrepancy between the communication and this Agreement, this Agreement shall prevail.
4)Any matters related to this Agreement, including but not limited to the establishment, effectiveness, performance, modification, interpretation, and dispute resolution of this Agreement, shall be governed by the laws of the Cayman Islands.
5)If there is any dispute or controversy between you and DeeBit, it should be resolved through friendly negotiation first. If negotiation is unsuccessful, both parties agree to submit the dispute or controversy to the court with jurisdiction in the Cayman Islands region for resolution.
6)The headings of all provisions of this Agreement are for convenience only and have no actual meaning in themselves, and cannot be used as the basis for the interpretation of the meaning of this Agreement.
7)For participants in the Futures simulation, this agreement is for reference only and is not binding.
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