option agreement
Options Trading User Agreement
Note to investors:

The digital financial derivatives innovative option trading service (hereinafter referred to as "Innovative Options Trading") provided by the BitMart trading platform (hereinafter referred to as the "Platform") involves certain risks. Users must carefully read and agree to this agreement when activating and using the innovative options trading service. . Your use of this Agreement will be deemed to fully understand and agree to this Agreement and the risks of innovative options trading.

Preface

The protocol aims to reveal the investment risks of innovative digital asset options trading to investors and help investors evaluate and determine their own capabilities. In view of the existence of investment risks, investors should read this agreement carefully before trading, and must ensure that they understand the nature and rules of innovative options trading, and bear risks based on their own investment experience, goals, financial status and tolerance. Participate in innovative options trading at your own discretion. Investors should seek independent professional advice in finance, law, etc. before applying for innovative options transactions.

Innovative option design concept

Innovative options trading is a brand new digital asset risk hedging financial derivative. It has the characteristics of simplicity, flexibility and strong operability. Provides investors with a new digital asset risk hedging product.
Investors can use innovative options trading methods to execute transactions in specific directions with limited and controllable risk exposure; On the premise of clear expected returns, innovative options trading features transaction diversity and multiple potential returns; Every time an innovative option is purchased, investors also know exactly how much profit can be gained at the same time.
As we all know, digital assets are financial derivatives with extremely volatile prices. Risk hedging financial derivatives currently on the market, such as contract futures, are limited by fairness, transaction volume, time cost and other conditions, and cannot fully hedge digital assets. Risk of price fluctuations.
Innovative option trading not only has the advantages of risk management and portfolio investment in the non-linear profit and loss structure of traditional financial market options trading, but also combines the characteristics of digital assets to provide investors with professional high-risk market risk management strategies.
Innovative options trading rules

1. Innovative options use the relevant prices of 5 well-known digital asset exchanges in the world to generate the price of the corresponding currency. The index composition and weights are as follows:

Trading platform weight ratio benchmarking unit
Binance 20% USDT
Kraken 20% off
Okex 20% USDT
Huobi 20%USDT
Coinbase 20% USD
2. The prerequisite for the price to be effective is that the effective exchange weight is ≥ 3, otherwise it will be deemed invalid. The platform will modify the index composition and weight from time to time based on the real-time trading data of the five major exchanges to ensure the validity and fairness of the data, and will announce the adjustments. Note: If the index composition and weight of the underlying price of innovative options trading change, this platform will issue an adjustment announcement.

3. Since the price accuracy of the five major exchanges is not uniform, the system has agreed on the price accuracy of option products. If the exchange price accuracy is inconsistent with the system agreement, it will be rounded to the nearest decimal point. For example: the price precision of BTC options is 2 digits. If the price on an exchange is 9000.1234, then after processing, the effective calculated price is 9000.12.

4. Current option period: divided into 30 seconds, 60 seconds, 3 minutes, 1 day, 2 days, and 3 days options.

5. Output:

When an investor purchases an innovative option, the expected return on the option becomes clear.
Users can hedge market risks as needed on the premise of determining the expected rate of return.
For example: If you buy a 100 USDT 5-minute BTC call option, the return rate is 70%. If the option delivery result rises, the return rate is 170 USDT (including the principal).

6. Delivery time: 0:00 GMT for same day start option.

For example: the start time of a 1-minute option is 00:00:00, the delivery time is 00:01:00, and so on.

7. Purchase time

For example: the start time of the current 1-minute option is 00:30:00, the delivery time is 00:31:00, etc.

8. Handling of abnormal situations: If data collection fails due to network delays or interruptions, third-party exchange data anomalies, or trading system anomalies lead to data calculation errors, these situations may lead to options trading failure. Complete delivery. You understand and agree that options transactions affected by the above circumstances will be deemed invalid transactions, and the digital assets used to purchase the above options will be returned to the user's trading account free of charge.

9. Amount limit: Each currency has a minimum purchase amount and a maximum purchase amount. The specific amount limit is subject to the actual transaction page.

10. Delivery results: Starting from 00:00 on May 28, 2020 (GMT+8), AAAA Exchange will implement the following standards to determine the delivery of innovative options transactions:

Delivery options Call options Call options Put options
30S |Rise rate|＞0.005% |Decrease rate|＞0.005%
60S |Up|>0.03% |Down|>0.03%
3M |Increase|>0.04% |Decrease|>0.04%
24 hours |Up|>0.05% |Down|>0.05%
48H |Up|>0.06% |Down|>0.06%
72H |Up|>0.07% |Down|>0.07%
The innovative options trading types currently available are call options and put options. After this adjustment to the judgment standards, the price level judgment standards for different delivery periods are different. Please refer to the table above.

Bullish: The price of the corresponding currency has risen since the delivery period, and the absolute value of the increase exceeds the proportion shown in the table;

Bearish: The price of the corresponding currency has declined relative to the initial delivery period, and the absolute value of the decline exceeds the proportion shown in the table;

Note: Options purchased before the implementation of the new standards will still be delivered and settled in accordance with the original regulations.

Existing risks

1. Price fluctuation risk

As a special digital asset financial derivative with investment value, the trading price of innovative options is affected by many factors, and the price fluctuates violently. It is difficult for investors to fully grasp it in actual operations, so there is a possibility of investment mistakes. If risks cannot be effectively controlled, greater losses may be suffered, and investors must bear all resulting losses.

2. Transaction risk

(1) In the trading system of this platform, once the transaction submitted by the investor is completed, it is irrevocable, and investors must accept the risks that this method may bring.

(2) This platform does not guarantee profits to investors, and does not share profits or any risks with investors.

3. Policy and regulatory risks

Innovative options trading may face policy and regulatory risks in different countries or regions. Investors should understand the regulatory policies of the trading area before trading and make prudent judgments based on this premise.

4. Other possible risks

(1) Relevant trading rules for innovative options trading, including but not limited to index composition and weight adjustment, expiration time, product rules, etc., may be modified based on actual business operations. If the platform needs to modify relevant trading rules due to special circumstances, the notification obligation will be deemed to have been fulfilled after the adjustment announcement is released, and users should review and adjust trading strategies in a timely manner. Any gains or losses incurred or likely to be incurred by the user shall be enjoyed or borne by the user.

(2) There are risks in using the Internet trading system, including but not limited to software, hardware, Internet link failures, etc. The Platform has no control over the reliability and availability of any Internet, and therefore the Platform is not responsible for network distortion, delays and link failures.

(3) All transaction calculation results will be verified by the platform, and all calculation methods have been published on the platform website, but the platform cannot guarantee that the use of the website will not be interrupted or error-free.

special attention items:

1. Innovative options trading is a very risky digital asset financial derivative. Investors must have an in-depth understanding of the basics of financial derivatives trading and related risks before participating, and participate in all related businesses of innovative options trading. Rules, please carefully read and agree to the "BitMart User Agreement" and "Innovative Options Trading User Agreement", understand and fully bear all transaction risks arising from significant fluctuations in digital asset prices.

2. The above risk matters are only enumerated, and it is impossible to exhaustively list all risk factors related to digital asset derivatives transactions. Investors should also carefully understand and master other possible risk factors before participating in digital asset derivatives transactions and investments. If this platform believes that you have violated this Agreement based on reasonable business judgment, or in accordance with the laws and regulations of your country or region, you are not allowed to provide services on this platform, or you use the service platform provided by this platform to conduct the following activities: Engage in illegal and criminal activities , this platform has the right to temporarily or permanently freeze your account, or suspend or terminate your use of all or part of the digital asset trading services provided by this platform. arrive

3. The prerequisite for the mark price to take effect is: effective weight conversion ≥ 3, otherwise the option transaction may not be completed. You understand and agree that options transactions affected by the above circumstances will be deemed invalid transactions, and the digital assets used to purchase the above options will be returned to the user's trading account free of charge. The platform will modify the index composition and weight from time to time based on the real-time trading data of the five major exchanges to ensure the validity and fairness of the data, and will announce the adjustments.

4. Any opinions, news, discussions, analyses, market prices, suggestions, chat room content, information, and KOL articles on this platform are general market comments and do not constitute investment advice. The platform does not assume any responsibility for any direct or indirect losses caused by users' reliance on such information, including but not limited to any loss of profits.

5. It is prohibited to use this platform to conduct malicious market manipulation, improper transactions and other unethical or illegal trading activities. If such incidents are discovered, the platform will deal with all unethical or illegal behaviors such as malicious price manipulation and malicious influence on the trading system. The company takes preventive protection measures such as warnings, restricting transactions, and closing accounts for users. It does not assume any liability arising therefrom and reserves the right to pursue liability from relevant parties.

6. Monitor transactions

The platform will set and adjust the maximum daily transaction and withdrawal limits based on security and actual transaction conditions;
If a registered user trades frequently, or a certain transaction or transactions are unreasonable, the platform’s professional team will evaluate and determine whether it is a suspicious transaction;
When the platform determines that a certain transaction or transaction is suspicious at its own discretion, the platform can take restrictive measures such as suspending transactions, rejecting transactions, or even canceling transactions that have already occurred, and report and submit it to the competent authority at the same time. without prior notice;
The platform reserves the right to reject registration applications from investors who do not meet international anti-money laundering standards or who may be considered politically exposed. At the same time, the platform reserves the right to suspend or terminate any suspicious transactions at any time based on its reasonable business judgment without assuming any responsibility or obligation.