Announcement on CYBERUSDT Perpetual Contract Adjustment (2023-09-02)

Dear LBank users,

LBank Futures will adjust the funding rate frequency of the CYBERUSDT perpetual contract on 2023-09-02 at 12:00 (UTC) from every four hours to every two hours.

Notes:

Capped Funding Rate = clamp (Funding Rate, -1 * Maintenance Margin Ratio, 1 * Maintenance Margin Ratio). For more on funding rate, please refer to Introduction to LBank Futures Funding Rates.
Maintenance margin rate change will affect the funding rates of the USDⓈ-M CYBERUSDT Perpetual Contract. For more details on funding rate, please refer to Introduction to LBank Futures Funding Rates.
In order to protect the users and prevent potential risks in extremely volatile market conditions, LBank Futures may undertake additional protective measures toward the USDⓈ-M CYBERUSDT Perpetual Contract without further announcement, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates such as the interest rate, premium and capped funding rate, changing the constituents of the price index, and using the Last Price Protected mechanism to update the Mark Price.

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Risk Warning: Investing in digital assets is extremely risky. Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and LBank is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. This material shall not be construed as financial advice in any case. LBank reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reason without prior notice.