Liquidation Subsidy Campaign - 240814 FAQ

Q: When is the promotion period?

A: Promotion period for the “Liquidation Subsidy Campaign - 240814” begins on 14 August 2024 at 08:00 UTC until Fully Subscribed

Q: What are the tasks and how can I be eligible to participate in the program? 

A: To participate in the “Liquidation Subsidy Campaign - 240807” campaign, participants must complete the Identity verification process.

Task 1

• Sign up for a Flipster account after 14 August 2024 at 08:00 UTC.
• Complete the Identity verification process within the promotion period: 14 August 2024 at 08:00 UTC until Fully Subscribed.
  
• To participate in the “Liquidation Subsidy Campaign - 240814” campaign participants must make a NET deposit with a value greater or equal to 50 USDT into their Flipster accounts.
  • The aforementioned USDT value will be calculated as per the index price of the deposit currency at the time of deposit.
  • The aforementioned NET deposit value will be calculated as the total USDT deposit value made minus the total withdrawal value starting from 14 August 2024 at 08:00 UTC.
  • Deposits from a Flipster trading account into a second Flipster trading account will not be considered.
• Submit the Liquidation Subsidy Application and provide the following:
  • Email address registered to your Flipster trading platform.
  • Screenshot of Liquidation Record on other exchanges.
  • The following information must be included in the aforementioned screenshot. 
    • Date & Time of Liquidation
    • Realized P&L at time of Liquidation
    • Personal information matching Flipster account
      • E.g. Full Name / Email Address / Mobile Number

Task 2

• Must have active VIP status at the start of the campaign period: 14 August 2024 at 08:00 UTC
• Must have been liquidated on the Flipster trading platform with position size of greater or equal to 10 USDT value..

Q: What are the important things to take note about this campaign?

A: Kindly take note of the following: 

For Task 1

• Only liquidations taking place between 4 August 2024 at 00:00 UTC until 5 August 2024 at 23:59 UTC will be considered in the “Liquidation Subsidy Campaign - 240814”.
  
• Only the liquidation with the highest realised P&L loss will be considered in the “Liquidation Subsidy Campaign - 240814”.
• Participants in the “Liquidation Subsidy Campaign - 240814” will receive Perpetual Swap Contract positions with the following specifications:
  • Symbol - Random
  • Direction - Long or Short 
  • Initial Margin - Up to 500 USDT Bonus
  • Leverage - Up to 20x
• Initial Margin specifications on Perpetual Swap Contract positions will depend on Realized P&L losses at the time of liquidation
  • • Realized P&L Loss ≥ 100 USDT
      • Position airdrop with 50 USDT margin
    • Realized P&L Loss ≥ 1,000
      • Position airdrop with 100 USDT margin
    • Realized P&L Loss ≥ 10,000
      • Position airdrop with 500 USDT margin
• Perpetual Swap Contract Positions received from the “Liquidation Subsidy Campaign - 240814” cannot be closed within 7 days of receiving the position airdrop.
• Perpetual Swap Contract Positions received from the “Liquidation Subsidy Campaign - 240814” will be attached with a Take Profit (TP) order set to 110% of the initial Perpetual Swap Contract price.
• The “Liquidation Subsidy Campaign - 240814” Task 1 will be fully subscribed once the budget of 50,000 USDT has been distributed as Initial Margin specifications on Perpetual Swap Contract positions.

 For Task 2

• Only liquidations taking place between 4 August 2024 at 00:00 UTC until 5 August 2024 at 23:59 UTC will be considered in the “Liquidation Subsidy Campaign - 240814”.
• Only the liquidation with the highest realised P&L loss will be considered in the “Liquidation Subsidy Campaign - 240814”. 
• Eligible participants in the “Liquidation Subsidy Campaign - 240814” will receive Perpetual Swap Contract positions with the following specifications:
  • Symbol - Random
  • Direction - Random
  • Initial Margin - Up to 10,000 USDT Bonus
  • Leverage:
    • Maximum of  Liquidated Position Leverage
    • Flipster Basic: Minimum 20x
    • Flipster VIP: Minimum 10x
• Position Size specifications on Perpetual Swap Contract positions will depend on NET Deposits starting from 14 August 2024 at 08:00 UTC
  • Net deposit with a value greater or equal to 100 USDT
    • Flipster Basic: 10% of liquidated position size
    • Flipster VIP: 20% of liquidated position size 
  • Net deposit with a value greater or equal to 1,000 USDT
    • Flipster Basic: 25% of liquidated position size
    • Flipster VIP: 50% of liquidated position size  
  • Net deposit with a value greater or equal to 10,000 USDT
    • Flipster Basic: 50% of liquidated position size
    • Flipster VIP: 100% of liquidated position size 
  • Please note that participant VIP Status will be determined at the time of position airdrop.
• Initial Margin specifications awarded will be:
  • Flipster Basic: Up to 200 USDT
  • Flipster VIP: Up to 10,000 USDT  
• Minimum Leverage specifications awarded will be:
  • Flipster Basic: Minimum 20x
  • Flipster VIP: Minimum 10x  
• Perpetual Swap Contract Positions received from the  “Liquidation Subsidy Campaign - 240814” cannot be closed within 7 days of receiving the position airdrop.
• Perpetual Swap Contract Positions received from the  “Liquidation Subsidy Campaign - 240814” will be attached with a Take Profit (TP) order set to 110% of the initial Perpetual Swap Contract price.
• The “Liquidation Subsidy Campaign - 240814” Task 2 will be fully subscribed once the budget of 150,000 USDT has been distributed as Initial Margin specifications on Perpetual Swap Contract positions.

Q: When will I receive my rewards?

A: Participants eligible for the campaign rewards will receive campaign rewards directly into their Flipster accounts. Please note that the daily reward distribution will begin from 16 August 2024 by 23:59 UTC

Q: Who can I approach if the reward is not received ?

A:  Kindly submit a service request form, or reach out to us via Live Chat support for more information.