1. Understanding Trial Funds

AlphaX offers Trial Funds in 2 variants: vouchers and balances. Trial Fund vouchers can be found in "Vouchers", while Trial Fund balances can be found in your Futures Account.

To use Trial Funds, users are required to redeem Trial Fund vouchers to Trial Funds. This allows Trial Funds to be used alongside users' personal funds as Futures margins or to cover losses incurred when trading Futures. Trial Funds are proportionally deducted alongside users' funds when covering fees. While the Trial Fund itself is not withdrawable, any profits earned from using Trial Funds can be withdrawn.


2. Steps to Using Trial Funds

2.1 Locating the Trial Fund Vouchers

Participate in events to obtain Trial Funds. You can locate your acquired Trial Fund vouchers in the "Vouchers" page:
Log in to your AlphaX account on the app, select the left sidebar and click "Vouchers".
 

2.2 Unlocking Trial Fund Vouchers

In the "Vouchers" page, Trial Fund vouchers must be unlocked before they can be redeemed. They are classified into 3 categories according to their unlocking requirement: without unlocking threshold, deposit threshold and trading volume threshold.
Vouchers without unlocking thresholds are redeemable instantly upon receiving them in "Vouchers".
Vouchers with thresholds will appear as "Invalid" upon receipt. They will display a "Redeem" option only after meeting the specified unlocking requirement.
 

2.3 Redeeming Trial Fund Vouchers into Funds

Unlocked Trial Fund vouchers must be "redeemed" to turn them into Trial Funds for use in the Futures Account.
2.3.1 Where Can I Find the Trial Funds I've Redeemed?
You can find the Trial Funds you've redeemed in your Futures Account.
2.3.2 What Is the Threshold for Redemption?
Trial Funds are usually combined with a user's personal funds for trading. Therefore, our system evaluates the user's personal funds in their Futures Account when a redemption is requested. Users can redeem only if their personal fund balance meets or exceeds the voucher's specified threshold.
* User's personal funds = account's asset balance - Trial Fund balance
2.3.3 What Are the Rules for Redemption?
To align with the voucher's specified Offset Ratio, users must adhere to stipulated requirements regarding the Trial Fund balance in their Futures Account and the proportion of deduction during voucher redemption. For instance:

Scenario

Criteria

Can be redeemed

No existing Trial Fund balances in the Futures Account.

Existing Trial Fund balances in the Futures Account, but the old and new Trial Funds have the same Offset Ratio.

Can be redeemed. Requires user to confirm removing the old Trial Fund balances manually.

Existing Trial Fund balances in the Futures Account, but the old and new Trial Funds have different Offset Ratio. User has no pending orders or open positions using the existing Trial Funds.

Cannot be redeemed

Existing Trial Fund balances in the Futures Account, but the old and new Trial Funds have different Offset Ratio. User has pending orders or open positions using the existing Trial Funds.
Scenario: John has obtained and redeemed Trial Fund voucher 1 worth 100 USDT with an Offset Ratio of 20%. He subsequently obtained Trial Fund voucher 2 worth 5 USDT with an Offset Ratio of 50%. To proceed with redeeming Trial Fund voucher 2, John must either remove or use the remaining Trial Fund balance of voucher 1.
 
2.4 Usage of Trial Funds

2.4.1 Viewing Your Trial Fund Balances
Your Trial Funds are transferred to your Futures Account upon redemption. Your Trial Fund balances, expiration time and Offset Ratio can be viewed by visiting "Portfolio" - "Futures".

2.4.2 Using Trial Funds

You can use Trial Funds as Futures margin or to cover losses incurred during trading, Guaranteed Price fees and funding fees. When using it to cover fees, the deduction is split between user's personal funds and Trial Funds. Users with insufficient Trial Fund balances will have the remaining portion covered by their personal funds, and vice versa. Details on the deductions can be viewed in the Spot Account's historical records.

Scenario 1: John's Guaranteed Stop Loss order is executed with a trading fee of 20 USDT, a Guaranteed Price fee of 20 USDT and a realized loss of 200 USDT. John has a personal fund of 200 USDT in his Futures Account and a 60 USDT Trial Fund with a 30% Offset Ratio.
Let's look at the breakdown of deductions for this order:
1. Trading Fees - 20 USDT: Deducted 20 USDT from John's personal funds.
2. Guaranteed Price Fees - 20 USDT: Deducted 14 USDT from John's personal funds and 6 USDT Trial Fund.
3. Realized Losses - 200 USDT: John has a remaining 54 USDT Trial Fund, which is insufficient to cover 200 USDT * 0.3 = 60 USDT. The system will deduct all the remaining Trial Funds and 146 USDT of John's personal funds.

Scenario 2: John's liquidated order has a trading fee of 10 USDT with realized losses of 400 USDT. John has a personal fund of 354 USDT in his Futures Account and a 60 USDT Trial Fund with a 10% Offset Ratio.
Let's look at the breakdown of deductions for this order:
1. Trading Fees - 10 USDT: Deducted 10 USDT from John's personal funds.
2. Forced Liquidation - 400 USDT: John has a remaining fund balance of 344 USDT, which is insufficient to cover 400 * 0.9 = 360 USDT. The system will deduct 344 USDT from John's personal funds and 56 USDT Trial Fund.

 

3. Reasons That May Cause Trial Funds to Be Void

3.1 Expired Trial Fund Vouchers
Trial Fund vouchers will become invalid if they are not unlocked and redeemed within their validity period.
 
3.2 Invalidation Due to USDT Transfer
Transferring USDT funds out of your account will lead to the forfeiture of the Trial Fund balances; transfers of non-USDT cryptos will not affect the Trial Funds. A pop-up warning will appear when you initiate such transfers.
Scenario: John has a 40 USDT Trial Fund in his Futures Account. He transfers 1 USDT from his Futures Account to his Spot Account, resulting in the forfeiture of the 40 USDT Trial Fund.
 
3.3 Invalidation Due to Fund Withdrawal
Withdrawing or internal transferring of any crypto within your Futures Account will render all Trial Funds invalid.
Scenario: John has 20 USDT Trial Fund in his Futures Account. He transfers 1 ETH from his Future Account internally, resulting in the forfeiture of the 20 USDT Trial Fund.
 
3.4 Expired Trial Funds
Trial Funds will lose their validity if they are not used within their specified timeframe.

 

4. More Details on Trial Funds

i. Trial Funds are non-transferable, non-withdrawable and can't be used for crypto conversion.
ii. Engaging in self-dealing, wash trading and position reversal using Trial Funds is strictly prohibited. Should such exploitative or abusive activities be detected, AlphaX reserves the right to enact measures on the involved accounts.
iii. Transferring funds out of the Futures Account may lead to forced liquidation of positions using Trial Fund or the inability to maintain open orders using Trial Fund. Please handle your positions and orders before transferring.
iv. Trial Funds come with a specific timeframe for redemption and usage. The validity period for redemption is displayed on the "Vouchers" page, and the validity period for usage is displayed in your Futures Account. Trial Funds that are not redeemed or used within the specified timeframe will be void.

Note:
If malicious activities to obtain Trial Funds are detected, AlphaX reserves the right to take necessary actions against the accounts involved to recover losses. AlphaX reserves the final interpretation rights regarding Trial Funds.