Futures Referral for Referee
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Last updated
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A new user who is invited by an active user is called a referee.
Step 1: Click the referral link or enter the referral code
You can access BUSD-M Futures via the referral link which you receive from your friend.
You can also enter your friend's referral code on the Futures referral page or when you enable trading. Click on “Enter referral code & get 10 BUSD”
Enter the referral code you have been given from your friend in this pop-up
Step 2: Sign Transaction
Once you click on the next step button, the website will ask you to sign the contract.
Now click Confirm to confirm that you will be a referee of your friend.
The system will confirm the referral relationship between your wallet address and your referrer’s wallet address.
After the referral relationship is confirmed, your referrer can receive a commission each time you open a position. For more details, please refer to "Futures Referral for Referrer".
After you open the first valid position, both you & your friend will receive a 10 BUSD Bonus. Here are the criteria:
Open a position with the minimum position notional size as described below
Hold the position for at least 30 minutes
The required position notional size differs for each trading pair:
BTC/BUSD
>= 2,000 BUSD/Position
>=30 minutes
ETH/BUSD
>= 1,000 BUSD/Position
>=30 minutes
other pairs
>= 500 BUSD/Position
>=30 minutes
If you want more guidelines to open limit/market orders, please access the following:
BUSD Bonus is an out-of-the-box token recently launched by the Position Exchange team. You can use BUSD Bonus to pay the initial margin to open positions on Position Exchange BUSD-M Futures and enjoy profit in BUSD (real) from those orders. However, BUSD Bonus cannot be transferred to other wallets or be used in other services.
For example:
You have 10 BUSD Bonus, you pay 10 BUSD Bonus + 1 BUSD to open a 1,000 BUSD BTC/BUSD position (leverage x100). Once the position shows profit of 100 BUSD and you close it, you will receive the original 10 BUSD Bonus plus an additional real-currency payout of 100 BUSD.
In case, the position suffers losses, the initial BUSD will be deducted first.
For example:
You open a BTC/BUSD position costed 10 BUSD Bonus + 10 BUSD, once your position is lost with -5 BUSD. You close it, you would receive 10 BUSD Bonus + 5 BUSD.
This release introduces a major change to the way BUSD Bonus is used to open trading positions. Now, the BUSD Bonus will only be taken as a discount towards the initial margin requirement for all trading pairs. This means that you can still use the full amount of your bonus but it will not cover your entire margin cost; you will need to pay the remaining margin with BUSD from your wallet.
When opening a trade, if you do not have sufficient BUSD in your wallet, then you may encounter an issue where the transaction reverts and returns with an error message saying:
Additionally, all trading fees must be paid in BUSD when opening new positions.
While it may seem like all hope is lost if your margin falls short, there is still an option available to help you use full of your BUSD Bonus. You can still be able to use the whole BUSD bonus to add additional margin and thus keep your position safe.
Initial Margin Discount
<= 500 BUSD
90% * Min(Bonus Balance, Initial Margin)
Remaining Margin + Maker/Taker Fee
<= 1,000 BUSD
70% * Min(Bonus Balance, Initial Margin)
Remaining Margin + Maker/Taker Fee
<= 10,000 BUSD
50% * Min(Bonus Balance, Initial Margin)
Remaining Margin + Maker/Taker Fee
<= 20,000 BUSD
30% * Min(Bonus Balance, Initial Margin)
Remaining Margin + Maker/Taker Fee
< 30,000 BUSD
20% * Min(Bonus Balance, Initial Margin)
Remaining Margin + Maker/Taker Fee
>= 30,000 BUSD
10% * Min(Bonus Balance, Initial Margin)
Remaining Margin + Maker/Taker Fee
For example:
You have 100 BUSD in Bonus balance, you may want to open a BTC position at the current price of 23,000 with leverage x10 and quantity of 0.1 => Notional = 2,300 (You'll be discounted 50%/100 BUSD)
In order to do so, you will need to pay an initial margin of 230 BUSD. However, with your current Bonus balance, you can use up to 50% of it, which is 50 BUSD, to take advantage of the discount. Additionally, you must pay 180 BUSD plus any fees associated with the transaction for a total cost of 230 BUSD. Then now you can use 10 BUSD left add to the position margin. If you have a Bonus Balance > Initial Margin, then the discount amount will be calculated based on the Initial Margin.
To illustrate this with an example, let's say you have 10 BUSD Bonus and open a position that costs 8 BUSD and has a notional value of 2,000 BUSD. In this case, you'll pay 4 BUSD in Bonus and 4 BUSD in cash to cover the cost of the position.
To gain more rewards, let's become a referrer and invite more friends to trade Futures on Position Exchange.
Position Exchange may adjust the proportion of referrals at any point and reserves the right to adjust the rules of the Futures Referral program.