Borrowing, Repayment, and Interest

Interest

The daily interest rate for all coins is 0.1%. The interest is not compounded, and it is charged hourly. The interest will be automatically deducted from your margin account every seven days after you borrow funds. If the available balance in your margin account is less than the accrued interest, BigONE will liquidate some of your holdings in the margin account to pay off the interest.

Instructions for borrowing

The amount that can be borrowed = Account Equity * (Leverage - 1) - The amount that has been borrowed. 

Note: The interest of the first hour after borrowing is automatically deducted when borrowing funds.

Instructions for repayment

The repayment priority: If you have more than one debt, the oldest debt will be repaid first. For any debt, interest is repaid first, then the principal.

After the principal and interest of one debt is paid in full, the status of this debt will be changed to “Paid in Full”, and the interest will stop accruing. In the events of crypto airdrops or forks for the borrowed coins, the borrower needs to repay the coins he or she receives from the events. Please follow the newly released Announcements for details.

The daily interest rate is 0.1%. The interest is charged hourly (the hourly interest rate is approximately 0.0042%).

You can choose to repay 100% of the amount that you’ve borrowed or to repay part of it. Regardless of which method you choose, the interest will be repaid first.

The repayment priority remains the same if liquidation occurs.

You need to repay the same coin as what you borrowed.

The interest will be automatically deducted from your margin account every seven days after you borrow funds.