Crypto.com Exchange Reminds Users to Review Open Margin & Derivatives Positions Prior Risk Parameters Adjustments
Adjustments to risk parameters take effect on December 11, 2024
Key Takeaways:
Risk parameter adjustments will impact Margin and Derivatives trading from 08:00 UTC, December 11, 2024.
BONK and POL tokens will be enabled as collateral.
Changes include leverage increases, haircut rate reductions, and unit margin rate (UMR) adjustments.
Users are urged to review and adjust open positions to avoid liquidation.
Changes to Risk Parameters
Crypto.com Exchange has announced an upcoming update to its Margin and Derivatives trading parameters to enhance user safeguards. These changes will introduce new collateral options, adjust leverage, and modify collateral and short sell limits across various tokens.
Here’s a summary of the key adjustments:
1. Collateral Token Changes
New Collateral Tokens: BONK and POL will be enabled as collateral.
Haircut Rate Adjustments: Reductions in haircut rates for BTC, ETH, USDT, and other supported tokens.
2. Margin Trading Adjustments
New Margin Trading Tokens: BONK, POL, and SUI will be added.
Increased Leverage: Maximum leverage for margin trading on several tokens will be increased.
Adjusted Limits: Updates to collateral and short sell limits for multiple tokens.
3. Derivatives Trading Changes
Unit Margin Rates (UMR): Adjustments will align with the updated leverage parameters.
User Action Required
Crypto.com Exchange has advised all users with open Margin or Derivatives positions to review them promptly. These adjustments may impact collateral requirements, and failure to act could result in liquidation of open positions.
To stay informed about the specifics of these changes, users are encouraged to:
Review the full list of affected tokens via Crypto.com Exchange’s Smart Cross Margin Rule page.
Make any necessary adjustments to open positions before 08:00 UTC on December 11, 2024.
How to Get Help
For questions or concerns, users can contact Crypto.com Exchange via their support chat at chat.crypto.com.
Conclusion
The Crypto.com Exchange is committed to maintaining a secure and adaptive trading environment. These updates reflect ongoing efforts to ensure user safety while enhancing trading flexibility.
Take action now to safeguard your positions ahead of the December 11, 2024 update!
Source: Email Communication to users by Crypto.com