KuCoin Automatic Lending Function Upgrade in Margin
03/16/2021, 17:42:12
Dear Kucoin Users,
In order to provide users with more convenient leverage lending services and increase the utilization rate of users' funds, as the People’s Exchange, KuCoin has optimized and upgraded the automatic lending function in the Margin Market.
The specific instructions in detail are as follows:
1. After enabling automatic lending, the system will help lend users’ funds at the best interest rate in the margin market (you need to set the lowest daily interest rate you accept. If the best market interest rate in the margin market is lower than what you set, the system will place a pending order at the rate you set);
2. For the returned funds, the system will replace the order for users automatically according to the acceptable lowest daily interest rate the user set;
3. Users can choose one or more loan periods at the same time from 7 days, 14 days and 28 days. The system will lend your funds automatically according to the market situation.
Notes:
1. If automatic lending is enabled before the upgrade, the fixed daily interest rate users set before will be used as the acceptable lowest daily interest after the upgrade. If users set a high daily interest rate before, it is advised to turn off the automatic lending on the web version and re-enable the new automatic lending service to improve capital utilization.
2. After enabling the “Auto-Lend” function, except for the reserved amount you set, the system will detect and automatically lend the available assets in the Main account, including assets obtained from deposits or OTC purchases.
3. The manual lending mode function remains unchanged.
4. The web version has been updated. Users can experience the feature first on the website. App users need to update the KuCoin App to the latest version (V3.29.0). The new version is currently under review on app stores. Users can download the latest version from Google Play, the iOS App Store and others after the review is complete.
5.Users can check the amount of lending funds and interest information of each loan in detail in [My Lendings]-[Check Details].
Thanks for your support!
KuCoin Team
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