Announcement on Upgrades of Hotcoin Perpetual Swaps

Dear Users,
Hotcoin will have an update of Derivatives edition at 12:30 (GMT+8), Dec.18th ,2021, with the upgrading duration lasting for nearly 1 hour.
In order to protect the interests of users, and to continuously provide better services to customers, further optimizing the trading experience to enhance the transaction security of user, Hotcoin will introduce the partial liquidation mechanism and insurance fund mechanism after the upgrading is completed. If the insurance fund is not sufficient enough to cover the over loss of the position, it will be taken over by the ADL system, which means individuals' position will be forced to deleverage ,people who have the reserve direction position will be auto-decreased.
The platform will release the insurance funds (100000USDT) for each Derivatives user account at 13:30 (GMT+8), Dec.18th ,2021.
The Derivatives “Insurance Fund”is designed to protect the assets of platform users, such as users losses caused by downtime of platform, system exceptions, third-party accidents and other abnormal circumstances .Hotcoin promises pay to cover 100% of the loss to those affected users.
During the upgrading period, the functional services under the Derivatives area of all clients of the platform ( Web Client & App Client) will be suspended. The payment transfer and transactions operation services will also be suspended by that moment. Please make your arrangements in advance. Sorry for the inconvenience brought to you, thank you for your understanding& trusting to Hotcoin!

Hotcoin
Dec.18th , 2021