Dear Nami community, Nami Insurance is a special product that accompanies users' profits. Therefore, in order to encourage our partners network and users to have successful contracts and increase benefits from the products, Nami Insurance project would like to announce an update Nami Insurance commission mechanism on Nami Exchange from 2023.10.19 17:00 (UTC) . Updated commission mechanism Users and community development partners will receive commissions based on the status of the insurance contract with the updated mechanism as follows: With Claimed contracts, the commissions will be calculated based on the total Q-Claim , instead of Margin With Liquidated contracts, the commission will NOT be paid The commission calculation based on the Margin for insurance contracts with a status of Refunded or Canceled remain unchanged Commission rate and other mechanisms remain unchanged Concurrently, to support users and partners during during the first period of using the product, the project will allocate a budget of 50,000 USDT from the Community Development Fund to pay commissions for Liquidated contracts status, with the following mechanism: Time application: From 2023.10.19 17:00 to 2023.12.31 17:00 (UTC) or when the budget is fully paid Commission rate for Liquidated contracts: Direct Commission = 1 % x Margin Indirect Commission = 0.3 % x Margin Noted: More information about Commission rate at Nami Community Development Partnership Program and Nami Insurance Referral Program Q-Claim is the total insurance payment including margin amount and additional payment. More information about Nami Insurance’s terms at Nami Insurance's Glossary Summary Table of Commission Mechanism with Insurance Contracts Status Contracts Status Old Commission Rate New Commission Rate Claimed Commission Rate x Margin Commission Rate x Q-Claim Refunded Commission Rate x Margin Commission Rate x Margin Canceled Commission Rate x Margin Commission Rate x Margin Liquidated Commission Rate x Margin Not apply Example Partner A successful referred user B to complete insurance contracts as follows: Contract 1: Status Claimed, Margin 1,000 USDT, Q-Claim 2,000 USDT Contract 2: Status Refunded, Margin 500 USDT Contract 3: Status Liquidated, Margin 500 USDT Contract 4: Status Canceled, Margin 500 USDT Commission for partner A (at the rate of 2%) change as follow: Old commission: (1,000 + 500 + 500 + 500) x 2% = 50 USDT New commission: (2,000 + 500 + 500) x 2% = 60 USDT Concurrently, during the period support from the Community Development Fund, Partner A will also receive an additional commission for Liquidated contract as: 500 x 1% = 5 USD Regard, More information: How to use Nami Insurance on Nami Exchange Status system Nami Insurance contracts Example of Asset Insurance for Spot Trading Example of Future Position Insurance How to use the Insurance Calculator tool? Nami Exchange reserves the right to modify, change, or cancel this notice at any time and for any reason without prior notice. Risk warning: Trading digital assets carries a high level of risk for both significant profits and losses. All your margin balance may be liquidated in the event of drastic price fluctuations. The purchase of Nami Insurance does not mean that it will completely eliminate the risk in trading digital assets. The information contained herein should not be construed as financial advice from Nami Insurance. Use any trading strategy at your own risk. Nami Insurance will not be liable for any loss arising from insurance policies and digital asset trading activities. About Nami Exchange Nami Exchange is a trading platform belonging to the Nami Foundation ecosystem that enables dynamic trading and effective investing through its Spot and Futures trading systems, which offer a wide selection of nearly 700 trading pairs, support leverage up to x125, and 24/7 live support in Vietnamese & English. ___ Website: https://nami.exchange/ Download Nami Exchange app here . Nami’s community: Telegram Nami Global Community: https://t.me/NamiGlobalGroup Twitter: https://twitter.com/NamiExchange Facebook Global Community: https://www.facebook.com/groups/namiglobal About Nami Insurance Nami Insurance is a decentralized hedging protocol applying Blockchain technology to provide a solution to support asset insurance when the market fluctuates against predictions. Website: http://namiinsurance.io/ Whitepaper: https://docs.namiinsurance.io/ Twitter: https://twitter.com/nami_insurance