Interpret Binance's Tongzhou Plan. Users who were liquidated on 10.11 will receive compensation, with the conditions shown below.
For ordinary users, those with positions below 60,000 USDT are expected to receive more than 10% of the liquidation amount. The reasons for this prediction are:
1. The minimum loss requirement is 50 USDT, while the minimum compensation in USDC is 4 USDT, which is roughly 10%.
2. According to Binance's own liquidation data, it was 2 billion USDT (although I don't believe it), and then they took out 300 million for Tongzhou. Some may say that the compensation period for liquidations is extended to 2 days, but don't forget that for large positions, the maximum is 6,000 USDT, and accounts with total assets below 30% are not included in the scope, so large funds in wealth management and spot trading, as well as large contract leverage users, will have limited compensation.
3. If it's below 10%, then Binance's own data contradicts itself, and the positive effect of this activity will be greatly reduced.
