Bingbon will adjust the Index Price Calculation method at 4pm on June 10th, Singapore Time (GMT+8) as follows:
The Bingbon Index Price Calculation collects spot market data from Binance, Huobi and OKEx. The weights of Huobi, Binance and OKEx indices all equal to 33.33%.
To avoid the malicious manipulation of the price or the instability of the exchange data source, before Bingbon makes a comprehensive calculation, Bingbojn will determine if the data sources of Huobi, Binance and OKEx are abnormal. If so, the abnormal data will not be included in the Index Price Calculation. Bingbon evaluates the data sources as follows:
- When the deviation between the latest price of any one of Huobi, Binance and OKEx and the median of all the three exchanges’ spot price is greater than the tolerance threshold (1%), it will be seen as an abnormal price that may be maliciously manipulated, and will not be included in the Index Price Calculation.
- The exchange that fails to update its data in 30s will be identified as an abnormal data source, and will not be included in the Index Price Calculation.
Note:
- Due to the reasons mentioned above (It is possible that the market data from any one of Huobi, Binance and OKEx will be excluded from the calculation) as well as the difference in the three exchange’s speeds of publishing data, Bingbon does not ensure its market data is the same as the mean value of the data from the three exchanges.
- Since Binance does not support BSV Spot Trading, the market data of BSV/USDT Trading will be based on the comprehensive calculation made up of the spot market data from Huobi and OKEx.
Conclution:
The Bingbon Index Price Calculation is within the range of the prices from all the three exchanges at any time, which authentically reflects the price trend of cryptocurrencies. The calculation of the Bingbon Index Price Calculation effectively avoids the possibility of the price being manipulated by a single platform, which proves the fairness of the Bingbon Index Price Calculation.
Risk Warning:
Digital asset derivatives trading is highly leveraged and risky, and may result in partial or total loss of account funds. Before conducting contract trading, investors must ensure that they understand the nature and rules of contract trading, and decide whether to participate in contract trading based on their investment experience, goals, financial status, and ability to bear risks.