To improve user experience, Gate will perform an auto upgrade for users who have not yet upgraded their liquidation mode in one-way position mode, starting January 15, 2025. The auto upgrade will be conducted gradually until all users are updated. It is recommended that you upgrade your liquidation mode as soon as possible to experience the new features.
Major changes:
Liquidation Trigger Conditions Upgrade
- Old: Liquidation is triggered when the mark price hits the liquidation price.
- New: Liquidation will be triggered when the margin level falls to 100% or below. In cross margin mode, all positions share the margin, and unrealized PNL are offset and included into the total margin balance calculation, helping reduce the liquidation risk.
Tiered Liquidation Mechanism
- Old: All positions are closed immediately once liquidation is triggered.
- New: When liquidation is triggered, the engine will calculate if the margin level goes back to 100% or above at lower risk limit level. If it does, the liquidation will stop there.
Profit and Loss (PNL) of Positions in Hedge Mode
- Old: In cross margin mode, unrealized PNL and margin occupied of two hedging positions could be offset.
- New: In cross margin mode, a standard margin will be required for the higher-value position to enter the market. The unrealized PNL are offset and included into the total margin balance calculation. Liquidation will be triggered when the margin level falls to 100% or below.
Gate Team
January 13, 2025
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