Are you an investor looking to stay informed about the latest developments in the cryptocurrency market? If so, you’ll want to pay attention to the recent announcement from OKX, a popular cryptocurrency exchange.
In a bid to enhance market liquidity and improve the overall user experience, OKX has revealed plans to delist several perpetual futures and margin trading pairs. This move is set to take effect on specific dates, so it’s essential for traders to understand the implications and take necessary actions.
Perpetual Futures Delisting:
One of the key changes announced by OKX is the termination of perpetual futures trading for the ZKUSDT pair on June 4, 2024, at 8:00 am UTC. This decision will result in the cancellation of all relevant trades and orders in the order book. Users holding positions in this pair should be aware that their positions will be settled at the arithmetic average price of the OKX index one hour before the delisting.
To ensure a smooth transition, OKX will adjust the final delivery price if there are any abnormalities in the index price. Additionally, users are advised to manage their risk levels by reducing leverage or closing positions ahead of the delisting to mitigate potential market fluctuations.
Margin Trading Delisting:
In addition to perpetual futures, OKX will also delist the ZK/USDT margin trading pair. The borrowing feature for this pair will cease on May 31, 2024, at 6:00 am UTC, with full delisting scheduled for June 3, 2024, at 9:00 am UTC. Margin trading services and flexible loan options for the pair will be suspended, and open orders will be canceled.
Risk Control and Discount Adjustments:
OKX is taking proactive measures to ensure a successful delisting process by adjusting its risk control parameters, including price limit rules. The platform will calculate the highest and lowest price limits based on specific formulas within defined time frames before the delivery date. Furthermore, discount rates for margin trading, particularly for ZK, will undergo adjustments to reflect market liquidity accurately.
These changes are intended to balance market risks and enhance the overall trading experience on OKX. By staying informed and taking necessary precautions, investors can navigate these delistings smoothly and protect their assets effectively.
At Extreme Investor Network, we strive to provide valuable insights and updates on the cryptocurrency market to help you make informed investment decisions. Stay tuned for more exciting developments in the world of blockchain and digital assets.