Dear OKX Users,
To mitigate market risks and enhance your trading experience, OKX periodically reviews and delists certain perpetual contracts and leverage trading pairs. Below is the detailed delisting schedule:
Perpetual Contract Trading
| Contract Name | Delisting Time (UTC+8) |
|---|---|
| GALUSDT | July 15, 2024, 4:00 PM – 5:00 PM |
| CELUSDT | July 15, 2024, 4:00 PM – 5:00 PM |
| OMGUSDT | July 15, 2024, 4:00 PM – 5:00 PM |
| SPELLUSDT | July 15, 2024, 4:00 PM – 5:00 PM |
| KSMUSD | July 15, 2024, 4:00 PM – 5:00 PM |
Key Delisting Process Details:
- Trading Halt: All pending orders will be canceled, and positions will be settled using the arithmetic mean of OKX’s index price during the hour before delisting.
- Funding Rate: The final funding rate will be set to 0, with no additional fees charged during settlement.
- Risk Control: Users are advised to reduce leverage or close positions preemptively. Any liquidation losses will be covered by the Insurance Fund, with Auto-Deleveraging (ADL) triggered if necessary.
- Post-Delisting: Accounts holding >$10,000 in positions will face a 30-minute transfer restriction.
👉 Learn more about risk management
Leverage and Flexible Savings Adjustments
| Trading Pair | Borrow Suspension Time (UTC+8) | Delisting Time (UTC+8) |
|---|---|---|
| GAL/USDT | July 5, 2024, 2:00 PM | July 11, 2024, 2:00 PM – 4:00 PM |
| CEL/USDT | July 5, 2024, 2:00 PM | July 11, 2024, 4:00 PM – 6:00 PM |
Critical Notes:
- Mandatory Repayment: Unrepaid loans will be force-liquidated during delisting.
- Precision Adjustments: Example: CEL/USDT minimum price precision changed from 0.0001 to 0.000001.
Discount Rate Updates
| Coin | Previous Discount Rate | Updated Discount Rate |
|---|---|---|
| GAL | 0.5 (up to $50,000) | 0 |
| CEL | 0.5 (up to $50,000) | 0 |
Purpose: Discount rates adjust coin valuations in cross-margin accounts to reflect liquidity risks.
👉 Explore margin trading strategies
FAQs
Q1: Why are these pairs being delisted?
A1: To manage market volatility and optimize platform liquidity.
Q2: How are positions settled during delisting?
A2: Using the index price average from the hour before delisting, with zero funding fees.
Q3: What happens if I don’t repay a leveraged loan?
A3: The system will auto-repay, potentially at unfavorable rates—close positions early to avoid losses.
OKX remains committed to delivering superior products and services. For further assistance, contact our 24/7 support team.
OKX Team
July 4, 2024
### Keywords:
- OKX delisting
- Perpetual contracts
- Leverage trading
- Risk management
- Funding rate
- Margin trading
- Discount rate