How to Use and How Event Amount Works on FMCPAY

Event Amount on FMCPAY is a special type of wallet that holds your assets, but the balance in this wallet is locked and cannot be used directly for trading or withdrawal. However, this balance can be used for trading fees and will be reimbursed and withdrawable after you complete a transaction.

Here’s a detailed explanation of how to use Event Amount and how the trading fee reimbursement process works:

1. Using Event Amount to Pay Trading Fees

• Trading fees deducted from Event Amount: When you trade on FMCPAY, such as trading the FMC/USDT pair, a trading fee will be charged in FMC. If you have an FMC balance in your Event Amount, the system will automatically deduct the corresponding amount of FMC from your Event Amount to cover the trading fee. This means you don’t need to have FMC in your main wallet (Available Amount); you just need it in your Event Amount to pay the fee.

2. Reimbursement of Trading Fees to the Available Amount

• Fee reimbursement to Available Amount: At the end of each day (around 23:59 UTC), FMCPAY will automatically transfer the amount of tokens used to pay trading fees from Event Amount to your Available Amount. This amount will move from the locked to withdrawable state. For example:
  • If you used 100 FMC from your Event Amount to pay the trading fee for the FMC/USDT pair, the system will return this 100 FMC to your Available Amount at the end of the day.
  • The balance in your Event Amount will decrease accordingly by the amount transferred to Available.

3. Withdrawing Funds from the Available Amount

• Withdrawing after reimbursement: The balance in your Available Amount is the amount you can freely use, including withdrawing it from the exchange. After the funds are transferred from Event Amount to Available, you can withdraw them to your wallet or use them for future trades.

Detailed Example

Suppose you have 3000 NOT in Event Amount and 0 FMC in Event Amount. During the day, you trade these pairs:

1. Trade the NOT/USDT pair:
   • Trading fee: 100 NOT.
   • The system will deduct 100 NOT from your Event Amount to cover the trading fee.
   • The remaining balance in Event Amount after the trade is 2900 NOT.
2. Trade the FMC/USDT pair:
   • Trading fee: 100 FMC.
   • Since you don’t have FMC in Event Amount, the system cannot deduct FMC from there and will require you to use FMC from your Available wallet or another source.

At the end of the day:

• The system automatically transfers 100 NOT from Event Amount to Available. At this point:
  • Your Event Amount wallet has 2900 NOT, 0 FMC.
  • Your Available Amount now has 100 NOT (withdrawable).

Conclusion

Event Amount on FMCPAY is a mechanism to keep a locked balance for users, helping them save on trading fees. When you trade and pay fees using the Event Amount balance, the amount is reimbursed at the end of the day and moved to the Available Amount, where you can withdraw or use the funds as you wish.