Contract Agreement
This Agreement and Additional Agreements apply to your access to and use of any services provided by the Company, including but not limited to the website https://globalhibthub.xyz/ (hereinafter referred to as the "Website" or the Website) and the mobile applications we provide and Related services provided by the Exchange (collectively, "Global HibtHub" or "we"). Signing other agreements related to the products provided by the company will not affect the effectiveness of this agreement.
Before using Global HibtHub contract transactions, users should read and abide by the "Global HibtHub Contract Trading User Agreement". Users are requested to carefully read and fully understand the contents of each clause, especially the corresponding clauses exempting or limiting liability, and choose to accept or not accept it.
Unless the user has read and accepted all the terms of this agreement, the user has no right to use Global HibtHub contract transactions and its corresponding services. The user's actions such as logging in, viewing, and publishing information on this service are deemed to have read and agreed to be bound by this agreement.
Scope of Application
The Service is only available to users 18 years of age or older. By accessing or using our Services, you represent and warrant that you are at least 18 years old and have not been deprived of the right to use the Services. You also guarantee that you are not on any trade or economic sanctions list, such as the United Nations Security Council sanctions list, nor are you restricted or prohibited from participating in any relevant activities by the European Union, the Hong Kong Monetary Authority, the Hong Kong Customs, the Office of Foreign Assets Control of the U.S. Department of the Treasury, and other administrative law enforcement agencies. type of transaction.
In addition, Global HibtHub respects all laws of all countries regarding blockchain encrypted digital assets. Contract services are not open to residents of the following countries or regions: Afghanistan, Burundi, Belarus, Central African Republic, Congo, Mainland China, Ethiopia, Guinea, Guinea-Bibi Saudi Arabia, Iraq, Iran, Lebanon, Sri Lanka, Libya, Serbia, Sudan, Somalia, South Sudan, Syrian Arab Republic, Thailand, Tunisia, Trinidad and Tobago, Ukraine, Uganda, United States, Venezuela, Yemen, Zimbabwe, Cuba, United States (including all United States territories such as Puerto Rico, American Samoa, Guam). This list of excluded countries is subject to change and may vary from service to service.
1.Overview
1.1 Contract trading is a virtual currency derivative launched by Global HibtHub. Global HibtHub is responsible for product design management and trading platform operation services.
1.2 The user guarantees that when reading this agreement and registering as a user of this platform, the user is over 18 years old; the content of this agreement is not excluded by the laws of the country or region where the user belongs and abides by the corresponding laws of the country; abides by the transaction rules of Global HibtHub and Contract trading product trading rules. If the aforementioned conditions are not met, the user should immediately terminate the registration or stop using the service.
2.Contract product rules
2.1 The subject matter of the contract includes BTC, ETH, LTC and other virtual currency varieties, indices, commodities, foreign exchange, etc. recognized by Global HibtHub. The price is calculated in the unit displayed in the contract when the transaction is made.
2.2 The contract type defaults to a perpetual contract. The contract has no expiration and delivery date and will never expire.
2.3 Funding rate: A positive number means that "buying long" users need to pay "short selling" users funding fees, while a negative number means the opposite. The details are subject to the funding rate at the time of transaction.
3. Trading rules
3.1 Users can place transaction orders through Global HibtHub’s APP and methods approved by Global HibtHub. The commission content includes the commission price, commission quantity, commission direction, position opening and closing direction, and other contents required by Global HibtHub.
3.2 When the user places an order to open a position and the transaction is completed, the investor will establish a corresponding contract position. When the position is not closed, floating profits and losses will occur as the price fluctuates.
3.3 When the user places an order to close a position and the transaction is completed, the corresponding position will be deducted from the position held by the investor, and the floating profit and loss will be converted into realized profit and loss.
4.Risk control rules
4.1 The principal required by investors when opening a position will be used as the fixed principal of the contract position. This part of the principal will be frozen and unusable when the user holds the position.
4.2 Forced liquidation system: The platform uses reasonable price marking methods to avoid forced liquidation due to lack of liquidity or market manipulation.
4.3 Risk reserve: The risk reserve is established by Global HibtHub to provide financial guarantees for maintaining the normal operation of contract transactions and to make up for losses caused by unforeseen risks of Global HibtHub.
4.4 Cross position and isolated position
Full warehouse
Full margin refers to using all available balances to avoid forced liquidation. Realized profits within the same account can help increase margin on losing positions.
Isolated position
In isolated margin mode, the maximum loss of your position is limited to the margin used. When a position is forced to be liquidated, any available balance in your account will not be used to increase the margin for this position.
4.5 When the user’s position quantity or commission quantity is too large and Global HibtHub believes that it may cause serious risks to the system and other users, Global HibtHub has the right to require the user to take risk control measures such as order cancellation and liquidation. When Global HibtHub deems it necessary, Global HibtHub will We have the right to use measures such as limiting the total number of positions, limiting the total number of orders, limiting the opening of positions, canceling orders, and forced liquidation of individual accounts for risk control.
5.Others
5.1 Users should abide by the principles of fairness and justice when participating in contract transactions.
5.2 Global HibtHub has the right to warn, restrict transactions, close accounts and other unethical behaviors for any malicious price manipulation or malicious influence on the trading system. When necessary, Global HibtHub has the right to use means such as suspending transactions, canceling transactions, rolling back period transactions, etc. to eliminate adverse effects.
5.3 When the user's position or commission amount is too large and Global HibtHub believes that it may cause serious risks to the system and other users, Global HibtHub has the right to require the user to take risk control measures such as order cancellation and liquidation. When Global HibtHub deems it necessary, Global HibtHub We have the right to use measures such as limiting the total number of positions, limiting the total number of orders, limiting the opening of positions, canceling orders, and forced liquidation of individual accounts for risk control.
5.4 Global HibtHub will not be liable for damages when the system platform cannot operate normally due to the following conditions, which prevents users from using various services or entrusting them normally. This situation includes but is not limited to:
A. Global HibtHub platform announced system shutdown for maintenance period;
B. Telecommunications equipment fails and data cannot be transmitted;
C. The Global HibtHub platform system is blocked and unable to perform business due to force majeure factors such as typhoons, earthquakes, tsunamis, floods, power outages, wars, and terrorist attacks;
D. Service interruptions or delays caused by hacker attacks, computer virus intrusions or attacks, technical adjustments or failures in the telecommunications sector, website upgrades, banking problems, temporary closures due to government controls, and other reasons that affect normal network operations;
E. Losses caused by technical problems that cannot be predicted or solved by the existing technical capabilities of the industry;
F. Losses caused to users or other third parties due to the third party’s fault or delay.
5.5 Due to abnormal transactions, market interruptions, and other possible abnormal situations that may be caused by unexpected factors such as system failures, network reasons, DDos and other hacker attacks, Global HibtHub has the right to cancel abnormal transaction results and roll back all transactions for a certain period of time based on the actual situation. make a deal.
5.6 The Global HibtHub trading platform will strictly prohibit any improper trading behavior, including but not limited to users taking advantage of possible system vulnerabilities to conduct malicious entrustments, maliciously manipulating prices and trading volumes through large entrustments, continuous entrustments, reverse transactions with associated accounts, etc. For such behavior, the Global HibtHub platform has the right to cancel abnormal transaction results and roll back some or all transactions within a certain period of time based on the actual situation.
5.7 The content of this agreement also includes Global HibtHub’s various system specifications, other agreements or rules in the attachments to this agreement, and other relevant agreements and rules regarding this service that Global HibtHub may continuously publish. Once the above content is officially released, it will become an integral part of this agreement, and users should also abide by it.
If there is a conflict between the above content and this Agreement, this Agreement shall prevail. Once you register or use any services under this Agreement, you are deemed to have read and agreed to be bound by this Agreement and the above contents. Global HibtHub has the right to unilaterally modify this agreement or the above content when necessary. After the relevant content is changed, if you continue to use this service, you will be deemed to have accepted the modified relevant content. If you do not accept the modified relevant content, you should stop using the relevant services.
5.8 The establishment, effectiveness, performance, interpretation and dispute resolution of this Agreement shall be governed by the laws of the Seychelles region.
5.9 If any dispute or controversy occurs between you and Global HibtHub, it should first be resolved through friendly negotiation; if the negotiation is unsuccessful, both parties agree to submit the dispute or dispute to a court with jurisdiction in the Seychelles region for resolution.
5.10 Prohibited matters in the contract (aligned with the international standard contract platform)
5.10.1 It is prohibited for users (the system determines user cheating through multi-dimensional feature recognition) to use multiple accounts and devices to conduct illegal arbitrage (including but not limited to brushing handling fees, rebates, bonuses, hedging, etc.). For this, the platform will The system detects illegal arbitrage users and takes corresponding measures (including but not limited to account bans, asset freezes, login restrictions, etc.).
5.10.2 In order to ensure the normal trading experience of ordinary users, the platform reserves the right to exercise the following measures against users who are detected by the system to be using ultra-short-term transactions (ultra-short-term frequent opening and closing of positions):
Immediate termination of your account and access to our servers and deductions of ill-gotten gains.
Invalidate all transactions that constitute ultra-short-term trading activity (i.e., treat the transactions as if they never occurred).
Close all trades that constitute ultra-short term trading activity based on our current market prices.
Increase the length of time you hold your position (i.e. hold it for a while before closing it).
5.10.3 Global HibtHub strictly prohibits unfair trading practices.Global HibtHub reserves the right to exercise executive control over your account at its sole discretion if you engage in the following conduct:
Engage in price manipulation or any other malicious market behavior;
May harm other users or Global HibtHub by exploiting vulnerabilities in this service or other unreasonable means;
Engage in any other activity that Global HibtHub deems to be harmful to the market.
5.11 If necessary, Global HibtHub has the right to unilaterally change the content of this Agreement at any time, and Global HibtHub does not need to notify you in advance. If Global HibtHub unilaterally changes the content of this agreement, the changed content will be immediately announced on the Global HibtHub website. Please check the latest information on the Global HibtHub website in a timely manner. If you continue to use the Service after the above changes are announced, you will be deemed to have agreed to the changes to this Agreement. If you do not agree to the changes to this Agreement, you should stop using the Service.
6.1 In order to maintain the stability and fairness of the trading market, Global HibtHub platform has formulated the following high-frequency trading risk control protocols to regulate user behavior and trading operations:
1. Transaction frequency limit: Users are prohibited from using automated scripts or programs to conduct high-frequency transactions. Each user will be limited in the number and frequency of transactions within a specific time period.
2. Transaction volume control: In order to prevent abnormal transactions from impacting the market, Global HibtHub will limit the maximum quantity and amount of each transaction. Transactions outside the limited range may be rejected or delayed by the system.
3. API interface calling specifications: For users who use the API interface to conduct transactions, Global HibtHub will limit the API calling frequency and access rights. Users must follow relevant regulations and use API interfaces reasonably.
4. Abnormal transaction monitoring: The Global HibtHub platform will continue to monitor abnormal trading behaviors in the market. Once abnormal trading or market manipulation is discovered, corresponding measures will be taken, including but not limited to restricting transactions, freezing accounts, etc.
Users must comply with the above regulations and cooperate with the platform for transaction monitoring and risk control. For users who violate the provisions of the agreement, Global HibtHub will take necessary measures, including but not limited to suspending trading permissions, blocking accounts, etc.
The titles of all clauses in this Agreement are for convenience of reading only and have no actual meaning in themselves and cannot be used as a basis for interpretation of the meaning of this Agreement.
The final right of interpretation belongs to Global HibtHub.