Deribit 更新会员条款：新增 RWA 衍生品与经纪服务，8 月 13 日生效
⚠️ Exchange Membership Terms and the Exchange Rulebook update
Deribit 用户注意：8 月 13 日起会员条款与规则手册更新，新增 RWA 衍生品、经纪服务及流动性支持计划，涉及清算机制变化。请务必在生效日前审阅新条款，特别是涉及新产品的交易规则。
We have updated the Exchange Membership Terms and the Exchange Rulebook for Deribit FZE ("Deribit"). These updates reflect:
我们已更新 Deribit FZE（“Deribit”）的交易所会员条款和交易所规则手册。这些更新反映了：
- administrative revisions and reorganisation to improve overall readability, including corrections to definitions and clause references;
- the inclusion of rights for Deribit to a) make valid information requests; b) take certain actions with respect to unclaimed property should your account become dormant or inactive; and c) exercise emergency powers in qualifying circumstances;
- a clarification of Deribit's limited administrative authority, rather than direct control, over virtual assets custodied with third parties;
- adjustment to the timeframe for the reporting and publication of block trades;
- the launch of real world asset derivative contracts for eligible traders, together with applicable conditions and mechanics;
- the addition of brokerage services offered by Deribit, enabling eligible traders to buy and sell virtual assets against fiat or other virtual assets, with Deribit acting as agent to route and execute orders with external trading partners on behalf of its members;
- the introduction of a liquidity support program and auto-deleveraging mechanism. These processes will apply to any member electing to trade new products referred to above, and each mechanism operates sequentially in the existing liquidation waterfall to resolve distressed positions in advance of, and in order to minimise calls on, the insurance fund and socialised loss mechanism.
- 为提高整体可读性而进行的行政修订和重组，包括对定义和条款引用的更正；
- 纳入 Deribit 的权利，包括：a) 提出有效的信息请求；b) 如果您的账户变为休眠或非活跃状态，就无人认领的财产采取某些行动；以及 c) 在符合条件的情况下行使紧急权力；
- 澄清 Deribit 对第三方托管的虚拟资产拥有有限的行政权力，而非直接控制权；
- 调整大宗交易的报告和公布时间框架；
- 为符合条件的交易者推出真实世界资产衍生品合约，以及适用的条件和机制；
- 增加 Deribit 提供的经纪服务，使符合条件的交易者能够以法定货币或其他虚拟资产买卖虚拟资产，Deribit 作为代理人，代表其成员与外部交易伙伴路由和执行订单；
- 引入流动性支持计划和自动减仓机制。这些流程将适用于任何选择交易上述新产品的成员，每种机制在现有的清算瀑布中依次运作，以解决困境头寸，并尽量减少对保险基金和损失社会化机制的调用。
Please review the fully updated Exchange Membership Terms and Exchange Rulebook on our website. The updated versions will come into effect as of 13 August 2026, unless such amendments are effected sooner in accordance with our terms (the "Effective Date"). You can access the updated versions through the Legal page associated with your account, and the former version of each will remain available for reference on the website for 30 days from the date of this announcement.
请在我们的网站上查看完全更新的交易所会员条款和交易所规则手册。更新版本将于 2026 年 8 月 13 日生效，除非根据我们的条款提前生效（“生效日期”）。您可以通过与您的账户关联的法律页面访问更新版本，每个旧版本将在本公告发布之日起 30 天内保留在网站上供参考。
These updates shall apply to all uses of Deribit's services, including but not limited to use of our website, mobile applications, and any trading activity across our products. By using and/or continuing to use the Exchange beyond the Effective Date, or by taking advantage of the new features outlined above, you acknowledge to have read, understood, and agreed to the updated Exchange Membership Terms and Exchange Rulebook.
这些更新适用于 Deribit 服务的所有使用，包括但不限于使用我们的网站、移动应用程序以及我们产品中的任何交易活动。在生效日期之后使用和/或继续使用交易所，或利用上述新功能，即表示您确认已阅读、理解并同意更新的交易所会员条款和交易所规则手册。
We have updated the Exchange Membership Terms and the Exchange Rulebook of Deribit FZE ("Deribit"), each of which is incorporated by reference in the Terms of Service for DRB Panama, Inc. These updates reflect:
我们已更新 Deribit FZE（“Deribit”）的《交易所会员条款》和《交易所规则手册》，这两份文件均通过引用并入 DRB Panama, Inc. 的服务条款中。这些更新反映了：
- administrative revisions and reorganisation to improve overall readability, including corrections to definitions and clause references;
- the inclusion of rights for Deribit to a) make valid information requests; b) take certain actions with respect to unclaimed property should your account become dormant or inactive; and c) exercise emergency powers in qualifying circumstances;
- a clarification of Deribit's limited administrative authority, rather than direct control, over virtual assets custodied with third parties;
- adjustment to the timeframe for the reporting and publication of block trades;
- the launch of real world asset derivative contracts for eligible traders, together with applicable conditions and mechanics;
- the addition of brokerage services offered by Deribit, enabling eligible traders to buy and sell virtual assets against fiat or other virtual assets, with Deribit acting as agent to route and execute orders with external trading partners on behalf of its members;
- the introduction of a liquidity support program and auto-deleveraging mechanism. These processes will apply to any member electing to trade the new products referred to above, and each mechanism operates sequentially in the existing liquidation waterfall to resolve distressed positions in advance of, and in order to minimise calls on, the insurance fund and socialised loss mechanism.
- 为提高整体可读性而进行的行政修订和重组，包括对定义和条款引用的更正；
- 纳入 Deribit 的权利，包括：a) 提出有效的信息请求；b) 在您的账户变为休眠或非活跃状态时，对无人认领的财产采取某些行动；以及 c) 在符合条件的情况下行使紧急权力；
- 澄清 Deribit 对第三方托管的虚拟资产拥有有限的管理权限，而非直接控制权；
- 调整大宗交易的报告和公布时间框架；
- 为符合条件的交易者推出现实世界资产衍生品合约，以及适用的条件和机制；
- 增加 Deribit 提供的经纪服务，使符合条件的交易者能够用法币或其他虚拟资产买卖虚拟资产，Deribit 作为代理人，代表其成员与外部交易伙伴路由和执行订单；
- 引入流动性支持计划和自动去杠杆机制。这些流程将适用于任何选择交易上述新产品的成员，每种机制在现有的清算瀑布中按顺序运作，以在调用保险基金和损失社会化机制之前解决风险头寸，并尽量减少对它们的调用。
Please review the fully updated Exchange Membership Terms and Exchange Rulebook on our website. The updated versions will come into effect as of 13 August, unless such amendments are effected sooner in accordance with our terms (the "Effective Date"). You can access the updated versions through the Legal page associated with your account, and the former version of each will remain available for reference on the Website for 30 days from the date of this announcement.
请在我们的网站上查看完全更新的《交易所会员条款》和《交易所规则手册》。更新版本将于 8 月 13 日生效，除非根据我们的条款提前生效（“生效日期”）。您可以通过与您的账户关联的法律页面访问更新版本，每份文件的先前版本将在本公告发布之日起 30 天内保留在网站上供参考。
These updates shall apply to all uses of Deribit's services, including but not limited to use of our website, mobile applications, and any trading activity across our products. By using and/or continuing to use the DRB Panama, Inc. platform beyond the Effective Date, or by taking advantage of the new features outlined above, you acknowledge to have read, understood, and agreed to the updated Exchange Membership Terms and Exchange Rulebook.
这些更新适用于 Deribit 服务的所有使用，包括但不限于使用我们的网站、移动应用程序以及我们产品中的任何交易活动。在生效日期之后使用和/或继续使用 DRB Panama, Inc. 平台，或利用上述新功能，即表示您确认已阅读、理解并同意更新后的《交易所会员条款》和《交易所规则手册》。
We have updated the Exchange Membership Terms and the Exchange Rulebook for Deribit FZE ("Deribit"). These updates reflect:
我们已更新 Deribit FZE（“Deribit”）的交易所会员条款和交易所规则手册。这些更新反映了：
- administrative revisions and reorganisation to improve overall readability, including corrections to definitions and clause references;
- the inclusion of rights for Deribit to a) make valid information requests; b) take certain actions with respect to unclaimed property should your account become dormant or inactive; and c) exercise emergency powers in qualifying circumstances;
- a clarification of Deribit's limited administrative authority, rather than direct control, over virtual assets custodied with third parties;
- adjustment to the timeframe for the reporting and publication of block trades;
- the launch of real world asset derivative contracts for eligible traders, together with applicable conditions and mechanics;
- the addition of brokerage services offered by Deribit, enabling eligible traders to buy and sell virtual assets against fiat or other virtual assets, with Deribit acting as agent to route and execute orders with external trading partners on behalf of its members;
- the introduction of a liquidity support program and auto-deleveraging mechanism. These processes will apply to any member electing to trade new products referred to above, and each mechanism operates sequentially in the existing liquidation waterfall to resolve distressed positions in advance of, and in order to minimise calls on, the insurance fund and socialised loss mechanism.
- 为提高整体可读性而进行的行政修订和重组，包括对定义和条款引用的更正；
- 纳入 Deribit 的权利，包括 a) 提出有效的信息请求；b) 在您的账户变为休眠或不活跃状态时，对无人认领的财产采取某些行动；以及 c) 在符合条件的情况下行使紧急权力；
- 澄清 Deribit 对第三方托管的虚拟资产拥有有限的管理权限，而非直接控制权；
- 调整大宗交易的报告和公布时间框架；
- 为符合条件的交易者推出现实世界资产衍生品合约，以及适用的条件和机制；
- 增加 Deribit 提供的经纪服务，使符合条件的交易者能够以法定货币或其他虚拟资产买卖虚拟资产，Deribit 作为代理人，代表其成员与外部交易伙伴路由和执行订单；
- 引入流动性支持计划和自动去杠杆机制。这些流程将适用于任何选择交易上述新产品的成员，并且每种机制在现有的清算瀑布中依次运作，以在调用保险基金和损失社会化机制之前解决风险头寸，并尽量减少对其的调用。
Please review the fully updated Exchange Membership Terms and Exchange Rulebook on our website. The updated versions will come into effect as of 13 August 2026, unless such amendments are effected sooner in accordance with our terms (the "Effective Date"). You can access the updated versions through the Legal page associated with your account, and the former version of each will remain available for reference on the website for 30 days from the date of this announcement.
请在我们的网站上查看完全更新的交易所会员条款和交易所规则手册。更新版本将于 2026 年 8 月 13 日生效，除非根据我们的条款提前生效（“生效日期”）。您可以通过与您的账户关联的法律页面访问更新版本，每个旧版本将在本公告发布之日起 30 天内保留在网站上供参考。
These updates shall apply to all uses of Deribit's services, including but not limited to use of our website, mobile applications, and any trading activity across our products. By using and/or continuing to use the Exchange beyond the Effective Date, or by taking advantage of the new features outlined above, you acknowledge to have read, understood, and agreed to the updated Exchange Membership Terms and Exchange Rulebook.
这些更新适用于 Deribit 服务的所有使用，包括但不限于使用我们的网站、移动应用程序以及我们产品中的任何交易活动。在生效日期之后使用和/或继续使用交易所，或利用上述新功能，即表示您确认已阅读、理解并同意更新后的交易所会员条款和交易所规则手册。
更进一步：量化金融体系
看懂新闻只是起点——沿量化金融路径，把它变成能交付的工程能力