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    Gate.io Scheduled USDT&USD&BTC Margined Perps Trading Engine Upgrade (22 November, 14:00-14:10 UTC)

    Creation Time:2022-11-21 12:22:15 UTCRead:14526

    Gate.io is going to upgrade and optimize the USDT, USD and BTC margined perps trading engine from 14:00-14:10 UTC on 22 November 2022. The upgrade will take about 10 minutes and partial service of USDT, USD and BTC margined perpetual contracts trading will be unavailable during the process. There might be trading interruption (about 1 second) and query interruption (about 1 second) on all perpetual contracts during the process. If you are an affected trader and API user, please adjust your strategies beforehand.

    Affected services:

    All USDT,USD and BTC margined perpetual contracts

    Major Changes

    This upgrade is going to change the way to calculate the deleveraging priority in the case of an ADL (Auto-Deleveraging ) event. Currently, opposing positions’ "Profit " calculated based on the entry price is used to determine the deleveraging priority, where the opposing positions with the highest profit will be deleveraged first. After the upgrade, the "Rate of Return" calculated based on unrealized PNL X Leverage (in the case of cross margin and without leverage setup, the leverage will be the maximum leverage applicable to the position) will be used to calculate the priority ranking.

    What is ADL
    In the event of liquidation, if the liquidation order can not be filled in the market at the bankruptcy price, it will be taken over by the insurance funds. If the insurance funds can not cover the loss as well, an ADL(auto-deleveraging) event will occur. The ADL system will automatically deleverages opposite positions based on deleveraging priority.

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    Gate.io Team
    November 21, 2022

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