Gate​.io | Notices about Zero Interest Vouchers

Gate.io | Notices about Zero Interest Vouchers

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What are they?

Margin Borrowing Interest Vouchers are used to deduct interest for users who need to borrow in Margin Borrowing. There will be different vouchers for corresponding coins. These vouchers will have different denominations, durations of interest-free and time of expiration and they can be applied in both cross and isolated margin trading. User can enjoy all the benefits before the expiration of the vouchers. PS: A voucher can only be used once and cannot be used in combination.

How to get them?

They are a benefits distributed by Gate.io and will be obtained as rewards in some events or campaigns . You might as well keep an eye on this.

What is the interest after using a voucher?

An Interest Voucher will cover the interest within its own denomination and duration of service ( Unused part will be invalid) before expiration. If the interest can’t be fully covered, the left part will generate interests. For instance, there is a 1000USDT voucher valid for 10 days, a user uses this voucher to borrow 1500USDT and pays back after 15 days, then the interests he/she needs to pay will be as following( Given that daily interest rate is 0.01%) :

Interests=the interest of the part of loan within the duration of the voucher but beyond the voucher’s denomination +the interest generated after the voucher’s duration = (1500 - 1000) USDT * 0.01% 10days + 1500 USDT * 0.01% * 5days = 0.5 USDT + 0.75 USDT = 1.25 USDT