#Binance Unified Account Adds Negative Balance Limit#
Hot Topic Overview
Overview
Binance announced that it will add the highest negative balance information to its unified account starting January 22, 2025, at 8:00 AM. When a user's negative balance for any asset exceeds the corresponding asset's highest negative balance, the system will automatically trigger a conversion process to repay the negative balance. The specific process is as follows: The system will first cancel pending orders occupying the corresponding asset and return the negative balance to 80% of the maximum negative balance; if the negative balance is still higher than 80% of the highest negative balance after repayment, the system will begin the conversion process, prioritizing the conversion of assets with higher collateralization ratios to repay the negative balance. This measure aims to prevent potential risks caused by excessive negative balances and ensure account security.
Ace Hot Topic Analysis
Analysis
Binance announced that starting January 22, 2025, 08:00, a new maximum negative balance information will be added to unified accounts. This means that when a user's account negative balance exceeds the corresponding asset's maximum negative balance, the system will automatically trigger a redemption process to repay the negative balance. The specific process is as follows: the system will first cancel the pending orders occupying the corresponding assets and return the negative balance to 80% of the maximum negative balance; if after repayment, the negative balance of the asset still does not fall below 80% of the maximum negative balance, the system will start the redemption process, giving priority to redeeming assets with higher collateralization rates to repay the negative balance. This measure aims to prevent users from experiencing account issues due to excessive negative balances and to ensure the safety and stability of user accounts.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Binance Unified Account adds a new maximum negative balance limit to prevent users from incurring excessive debt.
When the negative balance exceeds the maximum negative balance, the system will automatically trigger the redemption process, prioritize canceling orders, and repay the negative balance to 80% of the maximum negative balance.
If the negative balance is still higher than 80% of the maximum negative balance after repayment, the system will start the redemption process, prioritizing the redemption of assets with higher pledge rates.
This measure aims to reduce user risk and avoid losses caused by excessive debt.