Perpetual Futures Service Agreement

Users should read and comply with this agreement before using MGBX futures trading. Please ensure that you carefully read and fully understand each term, especially those concerning the exclusion or limitation of liability, and choose to accept or not accept the terms.

Unless the user has read and accepted all terms of this agreement, the user is not authorized to use MGBX futures trading and its corresponding services. Any action taken by the user to log in, view, or post information on this service will be considered as acceptance of the terms of this agreement.

1. Perpetual Futures Services

1.1 Futures trading involves high risks. As a futures trader, you acknowledge and agree that you bear the risk of accessing and using the futures trading services.

1.2 You should fully understand the risks associated with futures trading and be fully responsible for any and all trading and non-trading activities on your MGBX account. You should not engage in trading or investment beyond your financial capacity.

1.3 You are fully responsible for understanding the true status of any positions, even if MGBX displays this information incorrectly at any time.

1.4 You agree to maintain a sufficient amount of blockchain assets in your MGBX margin account as required for futures trading and to promptly repay your loans in full. Failure to maintain sufficient assets may result in the forced liquidation of assets in your margin account.

1.5 MGBX may, at its discretion, take measures to mitigate your potential losses on your behalf, including but not limited to transferring funds from your margin account to your trading account and/or from your trading account to your margin account.

1.6 During MGBX system maintenance periods, you agree to be fully responsible for managing your margin account at your own risk, including but not limited to closing positions and repaying your loans.

1.7 You agree to conduct all trading, futures trading, and/or borrowing on your own and are fully responsible for your activities. MGBX does not bear any responsibility for any losses or damages arising from your use of any service or from not understanding the risks associated with asset usage or related to our services.

1.8 Users agree that all investment operations conducted on MGBX represent their true investment intentions and unconditionally accept the potential risks and rewards associated with investment decisions.

1.9 MGBX reserves the right to suspend or terminate perpetual futures services and to take over user positions. When necessary, the MGBX platform may suspend, terminate perpetual futures services, and take over user positions at any time.

1.10 Due to network delays, computer system failures, and other potential unavoidable factors, there may be delays, suspensions, interruptions, or deviations in the execution of perpetual futures services. MGBX will strive to ensure but does not guarantee the stability and effectiveness of the perpetual futures service execution system. MGBX is not responsible for any discrepancies between the final execution result of perpetual futures services and the customer’s expectations due to the aforementioned factors.

2. Forced Liquidation, Risk Reserves, and Maximum Profit on Futures

2.1 Forced Liquidation Engine: When a user’s position loss falls below the maintenance margin, the forced liquidation engine will take over the position for forced liquidation.

2.2 Forced Liquidation: When a forced liquidation position is closed at a price below the bankruptcy price (the price at which the principal loss is zero), the surplus from forced liquidation will be added to the risk reserve and offset against the user’s settlement of underflow losses.

2.3 Risk Reserve: The risk reserve is established by the platform to provide financial guarantees for the normal operation of futures trading and to cover losses due to unforeseen risks on the platform.

2.4 Opening Price Limit Protection: The platform will calculate a reasonable opening price relative to the current market price, taking into account market conditions, risk reserve status, market depth, etc., allowing users to open positions without considering severe market fluctuations, based on the displayed price.

2.5 Maximum Profit on Futures:

•Per Position: The maximum profit rate for futures is 1000%. Beyond this maximum profit rate, the system will take over your position at the maximum profit rate for that product and settle the position.

3. Prohibited Activities in Futures

3.1 Users are prohibited from using multiple accounts or devices for illegal arbitrage (including but not limited to fee manipulation, rebate manipulation, gift manipulation, hedging, etc.), as identified by the system through multi-dimensional feature recognition. The platform will take appropriate measures against users detected by the system for illegal arbitrage (including but not limited to account suspension, asset freezing, login restrictions, real-name verification, etc.).

3.2 To ensure a normal trading experience for regular users, the platform reserves the right to take the following actions against users detected by the system for engaging in ultra-short-term trading (frequent opening and closing of positions):

1. Immediately terminate your account and access to our servers, and deduct illegal gains.

2. Invalidate all trades constituting ultra-short-term trading activities (i.e., treat the trades as if they never occurred).

3. Close all trades constituting ultra-short-term trading activities based on our current market prices.

4. Increase your holding period (i.e., require a holding period before you can close positions).

3.3 MGBX strictly prohibits unfair trading practices. If you engage in the following activities, MGBX reserves the right to exercise executive control over your account at its sole discretion:

5. Participating in price manipulation or any other malicious market behavior.

6. Potentially harming other users or MGBX by exploiting vulnerabilities in the service or through other unreasonable means.

7. Engaging in any other activities deemed harmful to the market by MGBX.