ParamountDax launched an Instant Bonus service to satisfy users’ funding requirements, requiring ParamountDax users to pledge corresponding digital assets as a trading volume in order to receive the bonus at the end of the contract.
How long are the Instant Bonus terms for ParamountDax?
Bonus terms of 1, 7, 14, 30, and 90 days are available. Each contract has a term period.
Bonus will be distributed when the contract will expire. Reaching the planned trading volume up to 100% before closing the contract does not close the contract earlier than the specified period.
Instant Bonus account workflow:
Let's make an example, John registered on ParamountDax Exchange and deposited 10 BTC and open a contract for 90 days. So John will have a trading power of 13 BTC, (the 10 BTC he deposited and the 3 BTC for the Instant Bonus that he received from ParamountDax).
Here, the system block his 10BTC to 90days (he can check it on his funds' page for the main account).
With this amount, John can trade, but he can lose the only 10BTC deposited.
Also, the 3 BTC Instant Bonus received can be withdrawn at the term of the 90 days if John reaches 1500 BTC trading volume.
For the contract with 10BTC and 90 days term, John should make the volume of 1500 BTC (deposit * 150).
Here is a list of bonus percentage:
The USDT/other available coins bonuses are the following:
- 1 day Bonus contract = + 10% funds
- 7 days Bonus contract = + 15% funds
- 14 days Bonus contract = + 20% funds
- 30 days Bonus contract = + 25% funds
- 90 days Bonus contract = + 30% funds
In the bonus system, we have various thresholds to reach so the user can receive the Bonus reward at the end of the contract. One step equal to 25%.
- 0 - 24.99% from planned volume: no bonus
- 25% - 49.99%: bonus 25% from planned volume (3BTC * 25% = 0.75BTC)
- 50% - 74.99%: bonus 50% from planned volume (3BTC * 50% = 1.5BTC)
- 75% - 100%: bonus 100% from planned volume (3BTC * 100% = 3BTC)
What happens when the contract expire
After the contract expireds, the ParamountDax will start the liquidation process.
The profits and remaining funds will be credited back to the main spot wallet account.
The liquidation process will start when the contract expires. It will take from 10 to 20 minutes for the process to be completed. User funds + bonus will be deposited then in the spot wallet of the user.
Also, the USDT funds of the contract will be converted to the traded token/coin. If the conversion happens with a price difference of the traded asset, the user may lose or gain value from the conversion.