All former margin wallets have been migrated into the new GEN 3.0 exchange as sub-accounts. These sub-accounts can only be used to house the legacy margin borrowing positions, any supporting collateral, and trading. These migrated margin borrowing positions will continue to be margined under the legacy rules.

Note that no new borrowing or any increase in borrowing position is allowed in these legacy wallets.

To enjoy Margin Trading in the new GEN 3.0 exchange, please refer to this guide. The migrated former margin wallet will be referred to as “Margin Wallet” for the sake of this tutorial.

To view your margin score in, navigate to the former margin wallet. On the right side of the screen, you will see your account’s Margin Score, which indicates your risk level based on the Virtual Assets borrowed and interest owing, and the Virtual Assets that you hold as Collateral in your Margin Wallet.

Your Margin Score changes according to the market movements, so if the prices move against your prediction significantly enough, a Margin Call may occur, and your Virtual Assets may be liquidated.

The formula to calculate your Margin Score is:

Margin Score = Total Margin Wallet Balance ÷ (Total Borrowed + Total Outstanding Interest)

1 - Margin Score > 2.0

No capabilities are restricted. You can borrow, repay, trade, and transfer in or out your Virtual Assets in your Margin Wallet.

2 - 1.50 < Margin Score ≤ 2.00 (3X) / 1.25 < Margin Score ≤ 2.0 (5X) / 1.12 < Margin Score ≤ 2.0 (10X)

Your transferring out (i.e. withdrawal) capability is disabled. At this point, you can still borrow, repay, trade, and transfer more Virtual Assets to your Margin Wallet.

3 - 1.30 < Margin Score ≤ 1.50 (3X) / 1.15 < Margin Score ≤ 1.25 (5X) / 1.1 < Margin Score ≤ 1.12 (10X)

Your borrowing and transferring out (i.e. withdrawal) capabilities are disabled. At this point, you can still repay, trade, and transfer more Virtual Assets to your Margin Wallet.

4 - 1.10 < Margin Score ≤ 1.30 (3X) / 1.05 < Margin Score ≤ 1.15 (5X) / 1.05 < Margin Score ≤ 1.1 (10X)

If your Margin Score is greater than 1.10 (3X) / 1.05 (5X/10X), but less than or equal to 1.30 (3X) / 1.15 (5X) / 1.1 (10X), your Margin Wallet is likely to be liquidated if it drops any further. A Margin Call will be triggered via email to your Account’s registered email address to add more Collateral to your Margin Wallet or to repay outstanding loans. At this point you can still repay, trade, borrow, and transfer in more Virtual Assets to your Margin Wallet.

5 - Margin Score ≤ 1.10 (3X) / Margin Score ≤ 1.05 (5X) / Margin Score ≤ 1.05 (10X)

Forced Liquidation will occur. If your Margin Score is less than or equal to 1.10 (3X) / 1.05 (5X/10X), our system will liquidate all Virtual Assets available in the Margin Wallet to pay back the outstanding loan principal and interest. If the value of your Margin Wallet is insufficient, we may require you to pay back the amount owing from your Spot Wallet. We may terminate open Orders, open positions, the Margin Trading Facility or the Agreement.

Please note that all Virtual Assets will be liquidated. The loan will be repaid through the proceeds that we have obtained as a result of the liquidation. After the liquidation is complete, subject to the liquidation fee, all remaining proceeds will become available in your Margin Wallet.

A liquidation Fee will be charged on the orders needed to liquidate a position. The fee is a flat 0.16% taker rate. Fees will be charged in the trade’s native Virtual Asset.

An overall weighted margin score is for validating new position openings. A weight will be applied to the respective coin collateral for the calculations of the overall weighted margin score. A lower weight leads to a lower weighted margin score, meaning higher collateral may be needed to place a new open order. This weight will not impact margin call and liquidation.

Weighted Margin Score = [(Coin A Qty x Price x Coin A Weight) + (Coin B Qty x Price x Weight) + … + (New Ordering Coin Qty x Price x Weight)] ÷ (Total Borrowed + Total Outstanding Interest)