Announcements Compensation Plan for Users Affected by Anomalies in the POGAI Perpetual Market

Compensation Plan for Users Affected by Anomalies in the POGAI Perpetual Market

2024-05-07 14:38:25 UTC 27258 Read

POGAI/USDT + 6.29%

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On the evening of April 17, 2024, UTC, the POGAI perpetual market experienced abnormal fluctuations. [Gate.io](https://www.gate.io/ "Gate.io") has taken immediate risk control measures, conducting thorough analyses of market data and abnormal trading behaviors. Currently, [Gate.io](https://www.gate.io/ "Gate.io") has identified all responsible UIDs for this event and will deduct abnormal profits from their accounts, compensating them all to the affected users. The detailed compensation plan is as follows:

All users who incurred losses during the period of abnormal market fluctuations (April 17, 2024, 21:00 to April 17, 2024, 22:00 UTC) will receive compensation on a 1:1 ratio after deducting their profits from this market, with 40% in USDT and 60% in Gate.io points. Users who made profits during this period and are not responsible for this incident and do not apply for compensation can retain their profits earned prior to and during this incident without deduction. 
Users who experienced losses during this period but made profits overall in this market will not receive compensation, and their previous profits will not be deducted.

The calculation of the affected amount is as follows: Affected Amount = User's Losses during the abnormal fluctuation period - User's Profits in this market.

Affected users are requested to submit required information via the provided form within five working days from the issuance of this announcement. Gate.io will provide compensation within five working days after collecting relevant information and completing profit/loss calculations according to this compensation plan.

Link to compensation application form: https://www.gate.io/questionnaire/4479

Note: Due to the high volatility and risks in perpetual markets of less popular coins, [Gate.io](https://www.gate.io/ "Gate.io") has provided clear risk warnings on its web and app coin trading pages. Users should conduct thorough research and bear the risks when participating in this market. While Gate.io strives to promptly compensate affected users, understanding specific market risks before participation is strongly advised.

We appreciate your understanding and support. If you have any questions or suggestions, please feel free to contact our customer service team for assistance.

<sp>
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Gate.io Team
May 7,2024

Compensation Plan for Users Affected by Anomalies in the POGAI Perpetual Market

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