1. Interest is calculated by Principal, Daily Interest Rate and Borrow time. You can check the accrued interest on the page as we show you below.
The interest will be charged for the first time once you borrowed funds successfully.
The accrued interest is updated every hour and will be settled when the borrowers repay.
2. Interest repayment: If you choose to repay part of the loans, the system will repay the interest first until all of the loans have been repaid, and the rest of it will still be charged interest.
3. Interest sharing: The platform will charge 5% of your accrued interest as fees and 10% as the insurance fund.
Automatically Renewed Rule
Purpose: To make it easier for Borrowers to maintain leveraged positions when the loan expires.
When the loan is about to expire (7/14/28 days), our system will check whether the Debt Ratio of the leveraged account is below the Debt Ratio of Auto-renewing:
1. Satisfying conditions(Debt Ratio < Debt Ratio of Auto-renewing): The system automatically helps the users re-borrow at the optimal interest rate in the loan market, and repays the principal and interest of the due loan.
2. Unsatisfied conditions(Debt Ratio ≥ Debt Ratio of Forced Liquidation): Our system will automatically liquidate the account for repayment.