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How to Use Futures Grid Loss Protection Vouchers?
2024-12-05 21:52
How to
Terms and Conditions
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What are Futures Grid Loss Protection Vouchers?
Futures Grid Loss Protection Vouchers allows you to cover the full or partial amount of any losses incurred from Futures USDⓈ-M Grid Trading, with respect to the Grid Bot’s Total PNL.
Displayed on the Trading Bots page, the Futures Grid Loss Protection Voucher enables selected users to protect themselves against full or partial losses. Once claimed, the first USDⓈ-M Futures Grid Bot opened will be protected up to the maximum amount indicated in the voucher.
About Futures Grid Loss Protection Vouchers:
Eligible Users
Selected Trading Bot Users
Bot Type
USDⓈ-M Futures Grid Bots (Except ETHBTC contracts) copied from Bots Marketplace or manually created
Number of Grid Bots Applied
First USDⓈ-M Futures Grid Bot opened after loss protection voucher is claimed
Loss Protection Coverage
Up to the amount indicated in the voucher (i.e., 10 USDT, 20 USDT, etc.) based on the bot’s total PNL
Claim Period
Number of days a user can claim the voucher
Expiration Period
Number of days a user can use the voucher after claim date
Note: Only selected users may be eligible to receive Futures Grid Loss Protection Vouchers at a given time.
How to claim Futures Grid Loss Protection vouchers?
1. Log in and go to the Trading Bots page by clicking [Wallet] - [Trading Bots].
If using the Binance app, log in and go to [Futures] - [Bots].
2. To claim the voucher, click [Claim] and agree to the terms and conditions. Please note the following details:
Claim Period: The number of days you can claim the voucher. After this period, it can no longer be claimed.
Claim Amount: The maximum amount that can be applied towards your Futures Grid Bot trading losses.
3. Select a Futures Grid Bot and click [Create]. The Loss Protection Voucher only applies to the first grid bot created or copied after claiming the voucher. A tag will indicate that the bot is protected by the voucher.
Please check the voucher’s expiration date. You must create a grid bot within the indicated period after claiming the voucher. If the voucher has been claimed but not used then expired, you will not be able to claim again.
If the grid created was manually terminated by the user, whether the grid was triggered or not, the voucher will be counted as used for this grid bot.
4. Click [Futures] - [Trading Bots] - [Futures Grid] to manage your Futures Grid Bots.
The Futures Grid Bot covered by the voucher, while active, will display an “In Use” voucher icon and the loss protection amount (i.e $20) under Running Orders.
Voucher Settlement:
The payout will be started 10 minutes after the termination of the user's grid. A "Processing" note will be displayed to indicate the settlement amount is being processed.
The system will automatically cover losses up to the maximum amount indicated in the voucher based on the Futures Grid’s total PNL. If the Futures Grid’s total PNL is positive, no compensation will be provided.
As long as the grid has been manually terminated (whether grid was triggered or not), the voucher will be regarded as having been used, and cannot be used again.
You will receive the compensated amount in your Spot Wallet (if applicable).
For example, the Futures Grid’s total PNL is -5 USDT and the voucher amount is 10 USDT, only 5 USDT will be compensated.
You can view the records in your Distribution History:
App: Wallets > Spot > Transaction History > Distribution
Note:
By claiming the Futures Grid Loss Protection Voucher, you agree that you have read, understood, and accepted the Futures Grid Loss Protection Voucher Terms and Conditions. You acknowledge and agree that you will be bound by and will comply with these Terms, as updated and amended from time to time.
Disclaimer: Digital asset prices can be volatile. 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 Binance is not liable for any losses you may incur. Futures trading, in particular, is subject to high market risk and price volatility. You may be called upon at short notice to make additional margin deposits or interest payments. If the required margin deposits or interest payments are not made within the prescribed time, your collateral may be liquidated. Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account. All of your margin balance may be liquidated in the event of adverse price movement. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use and Risk Warning.
The products and services referred to herein may be restricted in certain jurisdictions or regions or to certain users, in accordance with applicable legal and regulatory requirements. These materials are intended only for those users who are permitted to access and receive the products and services referred to and are not intended for users to whom restrictions apply. You are responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to the access to and use of any products and services offered by or available through Binance in each country or region from which they are accessed by you or on your behalf. Binance reserves the right to change, modify or impose additional restrictions with respect to the access to and use of any products and/or services offered from time to time in its sole discretion at any time without notification.
1. By participating in "Futures Grid Loss Protection", you acknowledge that you have read, understood, and accepted all of the terms and conditions in these "Futures Grid Loss Protection" terms (the "Futures Grid Loss Protection Terms"), Binance Terms of Use (the "Terms of Use") and Binance Futures Services Agreement (the "Futures Services Agreement") (collectively known as the Terms). You acknowledge and agree that you will be bound by and comply with the Terms. If you do not understand and accept the Terms in its entirety, you should not use or participate in "Futures Grid Loss Protection".
2. Any terms and references used in these Futures Grid Loss Protection Terms which are not defined herein, shall have the same meaning and construction in the Terms of Use or the Futures Services Agreement.
3. You understand that any transactions deemed by Binance to be wash trades, illegal bulk account registrations, self-dealing, or carrying attributes of market manipulation are strictly prohibited. Upon detection of such prohibited activities, you grant Binance the authority (without any payment, penalty, or liability due by Binance and provided that such action is in compliance with applicable laws) to cancel or void such transactions, treating them as if they had never been entered into. Binance is also authorised by you to reverse any transfers of Digital Assets made to and/or from your Binance Account in connection with such transaction, effectively treating the transaction as if it had never taken place. Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.
4. Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating, or suspending these Promotions, the eligibility terms and criteria, the selection and number of winners, and the timing of any action to be done, and all Participants shall be bound by these amendments.
5. Binance shall not be liable for any loss due to market order slippage and users shall have no recourse to the P&L due to such slippage.
6. These promotions are only available to users who are enabled for Binance Futures services, and may not be available or may be restricted in certain jurisdictions or regions, or to certain users, depending on legal and regulatory requirements.
7. Users are responsible for informing themselves about and observing any restrictions and/or requirements imposed with respect to the access to and use of Binance Futures services in each country from which the services are accessed.
8. Binance reserves the right to determine and/or amend or vary these Terms & Conditions, its eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done if it is justified due to important reasons, including but not limited to:
Changes in applicable regulations or policies;
Obligations arising out of law or decisions issued by common courts or public administration;
Anti-money laundering or combating financing terrorism rules;
Technical issues beyond our control;
Necessity to protect users from potential losses;
Necessity to protect Binance from the loss of reputation.
9. Additional promotion terms and conditions can be accessed here. There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
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