Before engaging in future trading on AlphaX, users are required to read and comply with this agreement. Users should carefully read and fully understand the contents of each clause, particularly those concerning the exemption or limitation of liability, and choose to accept or not accept them.

Users are not entitled to use AlphaX Futures and its related services unless the user has read and accepted all terms of this agreement. User actions such as logging in, viewing, and posting information on this service are deemed as the user's acknowledgment and agreement to be bound by this agreement.

1. Futures Trading

1.1 Futures trading carries high risks. As a futures trader, you acknowledge and agree that you assume the risk associated with accessing and using futures trading services.

1.2 You should fully understand the risks associated with futures trading and take full responsibility for all trading and non-trading activities on your AlphaX account. You should not engage in trading or investments beyond your financial capacity.

1.3 You are fully responsible for being aware of the true status of any position, even if AlphaX incorrectly displays it at any time.

1.4 You consent to keep a sufficient amount of blockchain assets in your AlphaX futures account as required by AlphaX for conducting futures trading activities. Failure to maintain sufficient assets may lead to the forced liquidation of assets in your futures account. You are solely responsible for the real risk status of any token assets held in your AlphaX account, including but not limited to your deposit assets, assets gained after spot trading, and profit generated from futures trading, even if AlphaX displays them incorrectly.

1.5 When AlphaX is undergoing system maintenance, you agree to fully manage your futures account at your own risk, including but not limited to closing or keeping your position.

1.6 You agree to perform all futures trading independently and take full responsibility for your activities. AlphaX is not responsible for any loss or damage resulting from your use of any service or your misunderstanding of the risks associated with the use of assets or the risks related to our services.

1.7 Users agree that all investment operations conducted on AlphaX represent their true investment intentions and unconditionally accept the potential risks and returns of investment decisions.

1.8 AlphaX reserves the right to suspend, terminate futures services, and/or take over user positions at any time when necessary.

1.9 Due to network delays, computer system failures, and other possible force majeure factors, the execution of futures services may be delayed, suspended, interrupted, or deviated. AlphaX will strive to ensure the stable and effective operation of the futures service system, but does not guarantee the final execution result of the futures service due to the aforementioned factors. If the final execution result of the futures service differs from the customer's expectations due to these factors, AlphaX bears no responsibility.

 

2. Rules on Risk Control

2.1 AlphaX Perpetual Futures employs various systems to control risk, including but not limited to:

i. Tiered Maintenance Margin Rate System
ii. Forced Liquidation System
iii. Automatic Deleveraging System
iv. AlphaX continually refines its risk control rules based on market conditions

2.2 Tiered Maintenance Margin Rate System: Futures Trading uses a tiered maintenance margin rate system, where larger positions require a higher margin rate. Additionally, to avoid auto-deleveraging, your margin rate needs to be higher than the maintenance margin rate, which is the required minimum margin rate to maintain your current position.

2.3 Forced Liquidation System: When an account fails to meet the margin requirements, the forced liquidation engine takes over the position for forced liquidation.

2.4 Auto-Deleveraging (ADL): ADL is a mechanism to counteract the risk of a position closing with negative equity. In the event of a forced liquidation, if the position cannot be liquidated at a price better than the bankruptcy price, and the insurance fund is insufficient to cover the loss incurred, the ADL system will reduce the positions of the counterparty holding the opposite position.

2.5 Risk Reserve Fund: Established by the platform, the risk reserve fund provides financial guarantees to maintain the normal operation of Futures Trading and compensates for losses due to unforeseen risks on the platform.

 

3. Restrictions on Futures Trading

3.1 It's strictly prohibited for users (as determined by the platform through various risk assessments) to engage in illegal arbitrage using multiple accounts or devices (including but not limited to exploiting trading fees, commissions, vouchers, hedging, etc.). The platform will take appropriate actions (including but not limited to account suspension, asset freezing, login restrictions, KYC verification, etc.) against users identified by the system as engaging in illegal arbitrage.

3.2 To ensure a normal trading environment for general users, the platform reserves the right to take the following actions against those identified as engaging in high-frequency trading (quick opening and closing of positions):

i. Immediate account termination and denial of service access, with confiscation of any illicit gains.
ii. Invalidate all transactions related to high-frequency trading activities (treating them as if they never occurred).
iii. Close all trades associated with high-frequency trading activities based on our current market prices.
iv. Extend your holding period (i.e., you must hold positions for a certain time before closing them).

3.3 AlphaX strictly prohibits any form of unfair trading practices. If involved in such activities, AlphaX reserves the right to impose stringent controls on your account at its discretion, including:

i. Engaging in price manipulation or any other malicious market activities.
2. Potentially exploiting the services’ loopholes or other unfair means to harm other users or AlphaX.
iii. Participating in any other activities deemed harmful to the market by AlphaX.

 

I have read and agree to the Futures Trading Service Agreement and consent to use AlphaX's futures services.