Dear Billance Users,
In order to deal with emergencies and ensure the safety of user transactions, Billance has launched a "20 Million contract insurance fund". Billance promises to fully compensate users for the losses caused by both pinning and downtime, due to the platform itself, and accordingly Billance will compensate all affected users, within 24 hours.
If the platform is down due to the failure of the platform itself or the failure of the third-party network service, that is connected to the platform. Resulting in the loss of user assets and or funds, Billance will pay the compensation within, 24 hours.
The pin pattern in digital currency trading situation refers to the price 'oscillation' of any currency, at a certain price point. So, when a sudden and rapid increase in price and then a subsequent fall, the k-line chart shows a long upper shadow, or a sudden and rapid break down in price and then a subsequent rebound, the k-line chart shows a long lower shadow.
Due to the leverage effect of the margin traded, when the price level fluctuates sharply within a short period of time, regardless of the upper or lower shadow line, the point reached is likely to result in a significant loss of account assets and or funds, the margin is not sufficient to maintain the original contract level, resulting in the overall equity to create a negative position burst situation. Currently, the spread between the latest traded price and the index price is greater than 2% of the marked price, which is considered or is known as, a needle-piercing situation.
Billance promises to pay out within 24 hours when there is a "pinning" like situation on the platform, which causes users to place orders at abnormal trading prices that result in abnormal trading losses.