OKX to Delist AGIX/USDT Margin Trading Pair and Perpetual Futures
Jessie A Ellis Jun 26, 2024 17:12
OKX will delist the AGIX/USDT margin trading pair and perpetual futures, as per SingularityNET's migration requirements. The delisting will occur on June 26 and 28, 2024.
OKX to Delist AGIX Margin Trading Pair and Perpetual Futures
OKX, a leading cryptocurrency exchange, has announced the delisting of the AGIX/USDT margin trading pair and AGIXUSDT perpetual futures. This decision aligns with SingularityNET's official migration requirements, according to OKX's official statement.
Details of the Delisting
The delisting process will unfold 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
After the delisting, all relevant trades and orders in the order book will be canceled. The exchange will deliver all AGIXUSDT perpetual futures positions at the arithmetic average price of the corresponding OKX index, timed one hour before the delisting. Should the index price show abnormalities during this period, OKX reserves the right to adjust the final delivery price to a reasonable level.
Risk Management and User Advisory
OKX advises users to manage their risk levels by reducing actual leverage multiples or closing positions in advance, considering the potential for sharp market fluctuations before delisting. Additionally, those holding positions greater than $10,000 in value at the time of delivery will face a 30-minute restriction on transferring assets out of their trading accounts. Asset transfers will return to normal after this period.
Furthermore, OKX has adjusted its risk control parameters, including price limit rules:
- 48 Hours Before Delivery: Highest price limit: 2%, Lowest price limit: 2%, Z: 5%
- 30 Minutes Before Delivery: Highest price limit: 1%, Lowest price limit: 1%, Z: 2%
These adjustments aim to ensure the successful delivery of the perpetual futures during the delisting process.
Margin Trading Adjustments
For margin trading, OKX will suspend margin trading and flexible loan features at the specified delisting times. Open orders for margin will be canceled, and users with borrowings or collateral in the delisting pairs must repay before the delisting times to avoid forced repayment.
OKX has also adjusted its discount rates for AGIX:
- Before: 0-50,000 USD tier at 0.5% discount rate; >50,000 USD tier at 0% discount rate
- After: 0 USD tier at 0% discount rate
These discount rates reflect the platform's strategy to balance market risks due to significant differences in market liquidity for each currency.
Conclusion
Users are encouraged to back up their data via the report center on the OKX website. The delisting of AGIX/USDT margin trading pair and AGIXUSDT perpetual futures is a significant move by OKX to comply with SingularityNET's migration requirements.
For more details, visit the official announcement by OKX.
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