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At Extreme Investor Network, we strive to provide you with the latest and most valuable information in the world of cryptocurrency, blockchain, and more. Today, we bring you an exclusive update on the delisting of the AGIX/USDT margin trading pair and perpetual futures by OKX, one of the leading cryptocurrency exchanges in the industry.
OKX to Delist AGIX Margin Trading Pair and Perpetual Futures
OKX has officially announced the delisting of the AGIX/USDT margin trading pair and AGIXUSDT perpetual futures. This decision comes as a result of SingularityNET’s migration requirements, as detailed in OKX’s official statement.
Details of the Delisting
The delisting process will occur in two stages:
-
Perpetual Futures Trading:
- Pair: AGIXUSDT
- Delisting Time: June 28, 2024, from 8:00 to 9:00 am UTC
-
Margin Trading Pair:
- Pair: AGIX/USDT
- Cease Borrowing Feature: June 26, 2024, at 8:00 am UTC
- Delisting Time: June 27, 2024, at 9:00 am UTC
Following the delisting, all relevant trades and orders in the order book will be canceled. OKX will settle all AGIXUSDT perpetual futures positions at the arithmetic average price of the corresponding OKX index, one hour before the delisting. In case of abnormal index price movements, OKX reserves the right to adjust the final delivery price.
Risk Management and User Advisory
OKX recommends that users manage their risk exposure by reducing leverage levels or closing positions ahead of the delisting, anticipating potential market volatility. Users with positions exceeding $10,000 at delivery time will face a 30-minute asset transfer restriction after delivery, which will be lifted thereafter.
OKX has also updated its risk control mechanisms, including price limit rules, to ensure the smooth delivery of perpetual futures during delisting.
Margin Trading Adjustments
For margin trading, OKX will halt margin trading and flexible loan features at the delisting times. Open margin trading orders will be canceled, and users with borrowings or collateral in the affected pairs must repay them before the delisting times to avoid forced repayment.
OKX has modified its discount rates for AGIX to balance market risks arising from varying liquidity levels for each currency.
Conclusion
It is important for users to safeguard their data by utilizing the OKX website’s report center. The delisting of the AGIX/USDT margin trading pair and AGIXUSDT perpetual futures is a strategic move by OKX to comply with SingularityNET’s migration requirements.
For additional details, we encourage you to refer to OKX’s official announcement for a comprehensive breakdown of the delisting process.
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