To increase the use case of POINTs and accelerate the consumption of POINTs, Gate now supports handling fee deduction (not interests) with POINTs in Margin Lending. The POINTs in the user account will be deducted automatically.
Gate POINTs has supported handling fee deduction in Markets, Margin Trading, Fiat Trading, and Perpetual Contract Trading. The POINTs will automatically be used with VIP discounts, while fees will be paid as usual when there is insufficient POINTs balance.
Gate POINTs Expiration Date
Gate POINT was first introduced on April 8th, 2019, and has been used for fee deduction for multiple trading services on the platform. Up till now, the percentage of the POINTs consumed over the past 9 months is 56.38%. It is estimated that the percentage of consumption will reach 90% after 6 months. Since POINTs offer lower discounts, currently, POINTs are the most used method for fee deduction.
In order to ex ecute the GT buy-back scheme (details below) earlier, we will close the official POINTs purchase service immediately. From UTC 16:00, August 31st, 2020, POINTs will no longer support handling fee deduction in regular Markets, Margin Trading, and Contract Trading; POINTs will support handling fee deduction in Fiat Trading, we will also enable fee deduction with POINTs in other services such as margin lending and borrowing until all the POINTs are consumed. After that, GT will be used for handling fee deduction in most cases. Also, the GT buy-back scheme will start from September 1st using the profit from Regular Markets, Margin Trading, and Contract Trading.
For more details, please refer to Gate Upgrades GT to Exchange Token and Updates POINTs Expiration Date (https://www.gate.com/article/17324)
FAQ
Transfer POINTs:
The official POINTs purchase service is closed, but the POINTs transfer service is still available;
Mobile App users can transfer POINTs by entering “Markets”- “My POINTs”- “Transfer”;
Web users can transfer POINTs by clicking “Wallets” – “POINTs Management”- “Transfer”; or visit https://www.gate.com/myaccount/point_transfer
Check POINTs balance:
Mobile APP users, please go to "Wallets" - “Spot Account” - “POINT” to check POINTs balance
Web users, please go to “Wallets” - “My POINTs” or visit: https://www.gate.com/myaccount/point_manage
Check the log of fee deduction with POINTs:
Mobile APP users, please go to "Wallets" - “Bill” check the fee deduction log;
Web users, please go to “Wallets” – “Billing Details” or visit: https://www.gate.com/myaccount/mypurselog
