pUSD Arbitrage Tool Risk Disclosure

The pUSD Arbitrage Tool is an arbitrage-based product offered in the 100X Wealth Management section. It uses a combined strategy of “Discounted Coin Purchase + Futures Hedging.” The product operates through both the spot component and the futures hedging component, aiming to help users participate in target asset allocation while hedging short-term market fluctuations to a certain extent.

Please note that the pUSD Arbitrage Tool is a digital asset wealth management product. Product operation and settlement results may be affected by various factors, including market conditions, price fluctuations, futures hedging effectiveness, liquidity changes, system processing time, and extreme market movements.

Backtested return rates, forecast data, example returns, settlement examples, or historical performance shown on the page are for reference only. They do not constitute a return commitment and do not represent future actual returns. Users should fully understand the product rules before participating and make decisions cautiously based on their own risk tolerance.

The spot component of the pUSD Arbitrage Tool is related to the price performance of the target asset. Whether the market price rises, falls, or remains volatile for an extended period, it may affect the order status, whether the unlock condition is reached, and the final settlement result.

When the market price reaches the unlock target set by the product, the system will enter the settlement process according to the rules. If the target is not reached, the order may continue running or enter an early handling process according to the page rules.

Digital asset prices may fluctuate significantly, and rapid price increases or decreases may occur within a short period. Users should fully understand the potential impact of price volatility on product results.

The pUSD Arbitrage Tool usually sets a corresponding unlock target. When the market price does not reach the unlock target set by the product, the order will not automatically complete settlement under the “Target Reached” status.

Under the “Target Not Reached” status, users may choose to continue holding or proceed with early handling when the conditions are met according to the page rules. If the user chooses early handling, the pUSD conversion ratio, returned assets, and final settlement result will all be processed according to the product rules.

Whether early handling is available, the handling method, settlement ratio, and asset arrival result are subject to the order page and actual system processing.

When the market price declines, the value of the spot component may decrease. Although the futures hedging component may offset part of the impact of spot price fluctuations to a certain extent, futures hedging does not mean that all market risks can be fully covered.

Under the “Market Decline” status, users may see different handling options, such as locking in the futures component result, continuing to hold the spot component, or redeeming according to the page rules. Different operation paths may lead to different settlement results.

If the market continues to fluctuate sharply or the price fails to meet subsequent settlement conditions, the final asset result may differ from the example shown on the page.

The futures component in the pUSD Arbitrage Tool is usually used to hedge market fluctuations of the spot component. However, the futures hedging result may be affected by the following factors:

Futures opening price;
Futures closing price;
Leverage multiple;
Market depth;
Slippage;
Trading fees;
Funding fees;
Execution efficiency under extreme market conditions.

Therefore, futures hedging is only one part of the product strategy. It does not mean that the product result will always meet expectations, nor does it mean that price volatility can be completely eliminated.

When market liquidity is insufficient, prices move rapidly, or extreme market conditions occur, the actual execution price of an order may differ from the price displayed on the page.

If slippage, execution delay, insufficient depth, or similar situations occur, they may affect the closing result of the futures component, the processing price of the spot component, and the final settlement result.

Users should understand that the settlement examples shown in the product are mainly used to explain the product rules. They do not mean that every order can be settled at the example price or achieve the example result.

When an order is under the “Target Not Reached” or “Market Decline” status, users may be able to choose early handling according to the page rules.

Early handling may involve the following situations:

Part of the pUSD may not be converted;
The settlement asset structure may change;
The futures component result may enter a temporarily frozen or pending settlement status;
The order may not complete final settlement immediately;
The final result may depend on subsequent spot price movements and product rules.

Before proceeding with early handling, users should carefully review the page prompts, estimated results, and relevant rules, and confirm that they fully understand them before taking action.

Some pUSD Arbitrage products may require users to lock a certain amount of 100XT when subscribing according to the product rules.

Locked 100XT is usually returned to the user’s Wealth Management Account after the order completes the corresponding settlement process according to the rules. However, during product operation, the locked 100XT may temporarily be unavailable for free use, transfer, or participation in other products.

Whether 100XT lock-up is required, the lock-up amount, lock-up duration, return conditions, and return time are subject to the product page.

The product page may display operating funds, number of participants, backtested return rates, forecast data, example returns, historical performance, and other information.

The above data is only used to help users understand product operation or product rules. It does not constitute a return commitment and does not represent future product performance. Actual product results will be determined based on market conditions, product rules, and system settlement.

Users should not make participation decisions based only on the data displayed on the page. They should make a comprehensive judgment based on their own asset situation, risk tolerance, and the product rules.

During subscription, operation, futures closing, redemption, and settlement, the pUSD Arbitrage Tool may require a certain amount of system processing time.

In cases of network fluctuations, system maintenance, intense market volatility, or a large number of orders, there may be delays in asset arrival, order status updates, or settlement result display.

If the order status has not been updated or assets have not arrived temporarily, please refer to the page prompts or wait for the system to complete processing before checking again.

When participating in the pUSD Arbitrage Tool, users should confirm that they fully understand the following information:

Subscription amount;
Required USDT, pUSD, and 100XT;
Asset allocation between the spot and futures components;
Unlock price;
Order status;
Early handling rules;
Settlement method;
Risk reminders.

If users make incorrect operations, do not fully understand the product rules, choose early handling, or fail to pay attention to the order status, the final settlement result may be affected. Please carefully read the page instructions and confirm before submitting any operation.

The pUSD Arbitrage Tool is a digital asset wealth management product and is not a risk-free product. Product operation and settlement results may be affected by market conditions, price fluctuations, strategy execution, futures hedging effectiveness, liquidity changes, execution price, slippage, trading fees, funding fees, system processing time, extreme market conditions, and other factors.

Users should carefully read the product introduction, participation guide, settlement explanation, and this risk disclosure before participating, and make decisions cautiously based on their own risk tolerance.

The actual product rules, supported assets, subscription conditions, asset allocation, lock-up requirements, order status, available operation entries, settlement method, asset arrival time, and final result are subject to the 100X App display and actual system settlement.