KuCoin Margin Trading: Interest-Free Event is now live!
15/01/2024 09:48:33
Dear KuCoin Users,
KuCoin Margin Trading continuously strive to find new ways to express our gratitude to users, both newcomers and long-standing members. In this spirit, we are delighted to announce an exclusive Interest-Free Event for the first hour of margin borrowing.
During specified dates, you can avail of zero-interest loans for various cryptocurrencies on the first hour of your loan.
There is no need for a separate sign-up process. Simply borrow the specified cryptocurrency during its allocated period each day, and the interest-free benefit for the first hour of your new loan will be automatically applied. This is our way of showing appreciation for your ongoing support and participation in KuCoin's trading community.
The interest-free tokens and their schedule are as follows:
| Interest-Free Currencies | First-Hour Interest-Free (UTC) |
| BTC, ETH | January 15 to January 21 |
| USDC, SOL, DOT | January 23 to January 29 |
| LINK, NEAR, INJ | January 31 to February 6 |
| USDC, XRP, ADA | February 8 to February 14 |
Activity rules: For each calendar day, the interest accrued in the first hour of a new loan for the activity's specified currency is completely waived. This exemption is implemented through a process of initially collecting interest, which will be refunded upon the repayment of the principal by the user.
Definition of natural day: A natural day is based on UTC time, spanning from 00:00 to 23:59 of the day.
New loans occur in the first hour: Within a calendar day, the first hour a new loan is initiated is considered the 'first hour'. Whether a single loan or multiple new loans within this hour, they are collectively termed 'new loans in the first hour.'
For example,
If you borrow USDC and BTC at 09:15 (UTC) on January 28, and it's your first borrowed transaction of these tokens for the day. Only the new USDC loans made between 09:15 and 10:00 (UTC) are eligible for the interest-free benefit. This is applicable as USDC is included in the event for that day, whereas BTC is not, and therefore, standard interest rates apply to BTC loans.
To review your waived interest amounts, please navigate to Assets → Margin Account → Account Details and find the 'Cross Margin Account or Isolated Margin Account' tab when repaying your liabilities.
Note：
- Sub-accounts will be regarded as the same account to participate in this activity;
- During the event, if there are cheating behaviors such as malicious brushing, batch registration of small accounts, self-buying and selling, etc., we will strictly review and disqualify them. Participation qualifications are subject to discretion, and KuCoin's decision is binding on users. The user hereby confirms that joining KuCoin is a voluntary act, and KuCoin has not forced, interfered or influenced the user's decision in any form;
- The final interpretation of all activities belongs to KuCoin.
Risk Warning:
Margin trading refers to the practice of borrowing funds with a relatively lower amount of capital to trade financial assets and obtain bigger profits. However, due to market risks, price fluctuations, and other factors, you are strongly recommended to be prudent about your investment actions, adopt an appropriate leverage level for Margin trading, and properly stop your losses in a timely manner. KuCoin assumes no responsibility for any losses arising from the trade.
Thanks for your support!
The KuCoin Team
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