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What are Cashback Vouchers and Cards?

What is a Spot Cashback Voucher

The Spot Cashback Voucher is a rebate voucher issued to users through operational activities. These can be used to get cashback on part or all of the transaction fees when a user makes a spot trade. The rebate amount will be returned to the user’s spot wallet in the form of USDT within 2 hours after the user completes payment of the initial spot fee.

Scope and conditions

Spot Cashback Vouchers can only be used to receive cashback on spot transaction fees, and cannot be used if no spot transaction fees have been incurred. In addition, vouchers do not apply to API transactions.

Effective Time and Expiration Date

A Spot Cashback Voucher is valid and active immediately after issuance, so there is no need to collect and activate it manually.

The Spot Cashback Vouchers obtained through the Welcome Bonus program are generally valid for 7 days. Individual vouchers may have different statuses and expiration times. Users can refer to the text description on a specific voucher to get its status and expiration time. After the voucher expires or its total balance is used up, the user will not be able to use it in any way. Vouchers can be viewed in the Privileges Center. Expired vouchers can be viewed in the Expired list.

Rules for using a single voucher

When the user has only one Spot Cashback Voucher, assuming that the voucher is still valid and has not been used, then its value is equal to the remaining balance of the voucher:

  • If the transaction fee amount of an eligible spot order is more than or equal to the remaining balance of the Spot Cashback Voucher, the user will receive cashback equal to the value of the Spot Cashback Voucher.
  • E.g.  If a user obtains a Spot Cashback Voucher with 200 USDT face value and initiates a spot transaction order and pays a fee of 500 USDT, then after 2 hours, the user’s spot wallet should receive a cashback amount of 200 USDT. The voucher’s remaining balance becomes 0, and the voucher status shows its balance has been used.
  • If the eligible spot order handling fee amount is less than the face value of Spot Cashback Voucher, the user can receive cashback equal to the spot order transaction fee amount, and the Spot Cashback Voucher’s remaining balance can be used for a subsequent transaction until the voucher expires or the remaining balance is used up.
  • E.g. If the user obtains a Spot Cashback Voucher with 200 USDT face value, initiates a spot transaction order, and pays a 50 USDT fee, then after 2 hours, the user’s spot wallet should receive a cashback amount of 50 USDT. At the same time, the voucher’s remaining balance becomes 150 USDT. This voucher can still be used for future trades if it has not expired.

Rules for using multiple vouchers

Multiple vouchers can be stacked on a qualified spot transaction order to increase total cashback. Vouchers with an earlier issuance date will be prioritized to be used first.

Rules for different types of benefits

When both the Spot Cashback Voucher and the Spot Cashback Card exist in the user’s account, the two benefits can be used together; however, the Spot Cashback Voucher will be prioritized first. The difference between a Spot Cashback Voucher and Spot Cashback Card is that the voucher gives a set amount of cashback, whereas the card gives a percentage of cash back on fees.


What is a Contract Cashback Voucher?

Contract Cashback Vouchers are rebate vouchers issued to users through operational activities. They can be used to get cashback on part or all of contract taker fees when a user makes a contract trade. The rebate amount will be returned to the user’s spot wallet in the form of USDT within 2 hours after the user completes payment of the initial platform fee. This USDT rebate can be exchanged for USD, BTC, or ETH.

Scope and conditions

Contract Cashback Vouchers can only be used to receive cashback on contract taker fees, and cannot be used if no contract transaction fees have been incurred. In addition, vouchers do not apply to API transactions.

Effective Time and Expiration Date

A Contract Cashback Voucher is valid and active immediately after issuance, so there is no need to collect and activate it manually.

Individual vouchers may have different statuses and expiration times. Users can refer to the text description on a specific voucher to get its status and expiration time. After the voucher expires or its total balance is used up, the user will not be able to use it in any way. Vouchers can be viewed in the Privileges Center. Expired vouchers can be viewed in the Expired list.

Rules for using a single voucher

When the user has only one Contract Cashback Voucher, assuming that the voucher is still valid and has not been used, then its value is equal to the remaining balance of the voucher:

  • If the transaction fee amount of an eligible contract order is more than or equal to the remaining balance of the Contract Cashback Voucher, the user will receive cashback equal to the value of the Contract Cashback Voucher.
  • E.g.  If a user obtains a Contract Cashback Voucher with 200 USDT face value, initiates a contract transaction order, and pays a taker fee of 500 USDT, then after 2 hours, the user’s spot wallet should receive a cashback amount of 200 USDT. The voucher’s remaining balance becomes 0, and the voucher status shows that its balance has been used up.
  • If the eligible contract order taker fee amount is less than the face value of Contract Cashback Voucher, the user can receive cashback equal to the transaction fee amount, and the Contract Cashback Voucher’s remaining balance can be used for a subsequent transaction until the voucher expires or the remaining balance is used up.
  • E.g. If the user obtains a Contract Cashback Voucher with 200 USDT face value, initiates a contract transaction order, and pays a taker fee of 50 USDT, then after 2 hours, the user’s spot wallet should receive a cashback amount of 50 USDT. At the same time, the voucher’s remaining balance becomes 150 USDT. This voucher can still be used for future trades if it has not expired.

Rules for using multiple vouchers

Multiple vouchers can be stacked on a qualified contract transaction order to increase total cashback. Vouchers with an earlier issuance date will be prioritized to be used first.

E.g: The user first obtains a 500 USDT Contract Cashback Voucher (A) then obtains a 1000 USDT Contract Cashback Voucher (B). If the user conducts a contract transaction with a taker fee of 300 USDT, then after the cashback the remaining balances of the two vouchers are: 200 USDT for A and 1000 USDT for B; if the transaction fee is 800 USDT, then the remaining balances after cashback is: 0 USDT for A voucher and 700 USDT for B voucher.

Rules for different types of benefits

  • In a situation where transaction fees are discounted to begin with, the Contract Cashback Vouchers will generally not affect the discount unless otherwise stated as a special circumstance. After the fee is discounted, part or all of the remaining fee can be subject to cashback based on the voucher amount.

What is a Spot Cashback Card

The Spot Cashback Card is a rebate card issued to users through operational activities. They can be used to get a percentage of cashback on part or all of transaction fees when a user makes a spot trade. The rebate amount will be returned to the user’s spot wallet within 2 hours after the user completes payment of the initial spot fee. The cashback will be sent in the same currency as the transaction fee, for example:

  • If the user buys XRP/USDT (receiving XRP and paying USDT) and the currency for transaction fees is XRP, then the cashback currency is also XRP;
  • When the user sells SHIB/USDT (receiving USDT and paying SHIB) and the currency for transaction fees is USDT, then the currency for cash back is USDT.

Scope and conditions

Spot Cashback Cards can only be used to receive cashback on spot transaction fees, and cannot be used if no spot transaction fees have been incurred. In addition, cashback cards do not apply to API transactions.

Effective Time and Expiration Date

A Spot Cashback Card is valid and active immediately after issuance, so there is no need to collect and activate it manually.

Individual cards may have different statuses and expiration times. Users can refer to the text description on a specific card to get its status and expiration time. After the card expires, the user will not be able to use it in any way. Cards can be viewed in the Privileges Center. Expired vouchers can be viewed in the Expired list.

Rules for using a single spot cashback card

When the user has only one spot cashback card and pays a transaction fee on a spot trade, our system will automatically return the cashback based on the rebate ratio outlined on the card. The user does not need to select it during the transaction process manually.

Rules for using multiple cashback cards

When a user has multiple cashback cards, only one cashback card can be used for each spot transaction. The one with a higher cashback ratio will be used first. If ratios are the same, the card with an earlier expiration date will be used first.

E.g:

  • The user obtains 2 cashback cards by participating in platform activities. The cashback rate of Card A is 10%, and the cashback rate of Card B is 20%. After paying fees on a spot trade, cashback card B will be prioritized for use.
  • The user obtains 2 cashback cards by participating in the platform activities. The cashback rate of Card A is 20%, and its expiration date is 6/16/2022, while cashback Card B has a 20% rate and an expiration date of 8/16/2022. After paying fees on a spot trade, cashback Card A will be prioritized for use.

Rules for different types of benefits

When both the Spot Cashback Voucher and the Spot Cashback Card exist in the user’s account, the two benefits can be used together; however, the Spot Cashback Voucher will be prioritized first. The difference between a Spot Cashback Voucher and Spot Cashback Card is that the voucher gives a set amount of cashback, whereas the card gives a percentage of cashback on fees.

 

What are Interest Boost Coupons?

Interest Boost Coupons are a type of benefit coupon that are exclusive to Phemex users. These coupons can be used to increase the interest rate returns of certain Phemex Earn products. Users can earn the Interest Boost Coupons through various events and promotions on Phemex, so always keep an eye out for them. Through these events, Phemex will give out coupon redemption codes,  which then can be redeemed in the Privileges Center. At times, Phemex may directly issue these coupons to certain users as well. Therefore, in order to receive your Interest Boost Coupons, please constantly pay attention to your Privileges Center.

Rules for Using Interest Boost Coupons

For Flexible period products, the additional income from the Interest Boost Coupon will be distributed to your investment account on a daily basis alongside your regular Flexible Savings returns.

For Fixed period products, the additional income from the Interest Boost Coupon will be distributed to your investment account after the fixed period has ended, alongside your regular Fixed Savings returns.

The formula for calculating additional returns from Interest Boost Coupon is:

Additional Returns = Boosted fund amount * Boosted rate * Boost days/365 

Boost fund amount represents either the subscription amount or the coupon’s maximum boost amount, whichever number is smaller.

Rules for Redeeming Interest Boost Coupons

Click the Interest Boost Coupon in your Privileges Center to go to Phemex Earn homepage. When subscribing to an Earn product, select the coupon you wish to use (fund amount threshold must be met and coupon must be applicable to that product). After completing your subscription, the coupon will be used.

Scopes and Conditions of Interest Boost Coupons

Interest Boost Coupons can only be used within the stated validity period, which is displayed on the coupon itself.


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