Announcement on Adjustment of Coin Withdrawal Rules

2022-06-20 13:37:46

Fellow AEXs,

 

Due to the short-term liquidity of the platform, we previously limited the daily coin withdrawal amount for a single account (currently 600U per account per day) and expected to return to normal within 90 days.

 

After 3 days of observation and data analysis, we have decided to modify the withdrawal rules within 90 days in order to resume normal withdrawal more quickly as follows.

 

1.The withdrawal amount for each account will be calculated separately, instead of using the unified update of 600U amount every day, we will use the mode of accumulating the amount for each account independently, which means different accounts will have different withdrawal amounts.

2.From June 21, 0:00, the initial withdrawal amount will be initialized to 600 U for all accounts with total assets > 10 U, and the initial amount will be initialized to 10 U for accounts with total assets < 10 U (including new accounts).

3.If an account has no withdrawals in the past day, and, the total value of the account’s assets exceeds the account’s current pre-currency limit, then at 24:00 after the end of the day, its account limit will be +600 U from the previous day(Not to exceed total asset value after increase) (this value will be adjusted day by day according to the liquidity situation, and the system will make the first limit stack at 24:00 on June 21). This is for the convenience of customers who don’t have time to withdraw coins every day.

a) Example 1: Account A has a total asset value of 10,000U and the current withdrawable amount is 600U. If A never withdraws coins, the amount will become 1200U on the next day and 1800U on the third day until the withdrawable amount exceeds the total asset value.

b) Example 2: B account current asset value is 3000U, suppose its current withdrawable amount is 1300U, B withdraws 500U, the remaining amount is 800U, then after 24:00, it will not get +600U, the next day’s withdrawable amount is still 800U. if B does not withdraw the next day, then the third day’s amount will increase from 800U to If B does not withdraw any coins on the second day, the credit will be increased from 800U to 1400U on the third day.

4.If an account is filled with coins (not OTC), the withdrawal amount of the account will be increased by a net top-up amount equal to the market value of the filled coins. For example, if a C account has a current coin limit of 10,000U, and it has topped up 1 BTC with a market value of 21,000U, then the withdrawal limit of the account will be increased to 31,000U. This is to facilitate customers’ normal trading needs, buy and sell with confidence.

 

We always take it as our responsibility to protect our users’ assets and do our best to serve you when the financial systemic risk of the industry comes. This time, we adopt a differentiated withdrawal management mode, which is a temporary management method adopted within 90 days in order to adapt to the different needs of different customers. When the liquidity risk is eliminated, we will return to the normal mode. Your assets will not be lost, please rest assured.

 

Risk warning:

Cryptocurrency is an innovative investment in which prices may fluctuate violently. Users are requested to rationally judge their own risk tolerance and make decisions prudently.
AEX eserves all rights to the final interpretation of this announcement. 

AEX Operation Team

June 20, 2022 (UTC)

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