The Event Amount on FMCPAY is a special type of wallet that holds your assets, but the balance here 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 wallet and how the trading fee reimbursement process works:
1. Using Event Amount to Pay Trading Fees
Like any other crypto exchange, trading on FMCPAY involves a fee for every transaction. For example, when trading the FMC/USDT pair, a certain amount of FMC will be charged as a trading fee. If you have an FMC balance in your Event Amount, the system will automatically deduct 100% of the fee from that balance. This means you don’t need to have FMC in your main wallet (Available), you just need it in your Event Amount to pay the fee.
In case your Event Amount doesn’t have enough of the token needed for the trading fee, the system will take the fee from your main wallet as usual.
2. Transfering Funds from Event Amount to Available
The Event Amount is used not only to cover trading fees — you can also gradually transfer these funds to your main wallet! At the end of each day (around 23:59 UTC), FMCPAY will automatically transfer the amount of tokens used to pay trading fees from your Event Amount wallet to the Available wallet. This amount will move from the locked to the 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 add 100 FMC to your Available wallet at the end of the day.
- The balance in your Event Amount will decrease accordingly by the amount transferred to the Available wallet.
3. Withdrawing Funds from the Available Amount
After reimbursement, you can now freely use the balance in your Available balance, including for trading, staking, or withdrawing it from the exchange.
You can check your account balance now at: https://fmcpay.com/wallet/spot
Detailed Examples
Suppose you have 3000 NOT and 0 FMC in Event Amount. During the day, you trade these pairs:
- 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.
- 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 balance 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 balance has 2900 NOT and 0 FMC.
- Your Available balance 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 balance, where you can withdraw or use the funds as you wish.
