In order to improve market liquidity and improve the overall user experience, OKX will delist several low-liquidity perpetual swaps. The details are as follows：
|
Perpetual swaps |
Delisting time |
|
BZZUSDT |
08:00AM (UTC) August 23, 2022 |
|
CONVUSDT |
08:00AM (UTC) August 24, 2022 |
|
RSS3USDT |
08:00AM (UTC) August 25, 2022 |
|
LATUSDT |
08:00AM (UTC) August 26, 2022 |
|
CQTUSDT |
08:00AM (UTC) August 27, 2022 |
OKX will delist these perpetual swaps and terminate the relevant trades. Relevant orders on the order book will also be canceled after the delisting.
OKX will deliver all the CQTUSDT/BZZUSDT/CONVUSDT/RSS3USDT/LATUSDT perpetual swaps positions at the arithmetic average price of the corresponding OKX index timed at 1 hour prior to the delisting.
If the index price displays abnormalities in the hour preceding the delisting, OKX may adjust the final delivery price to a reasonable level for delivery.
The current funding rate at 8:00 am UTC on the day of delisting will be 0, thus the funding fees for this period will not be included in the billing record.
Considering that the market may fluctuate sharply before the delisting, please manage your risk level by reducing the actual leverage multiples or closing positions in advance.
Within the first 30 minutes after the delisting, if you hold positions greater than 10,000 USD in value in CQTUSDT/BZZUSDT/CONVUSDT/RSS3USDT/LATUSDT perpetual contracts at the time of delivery, you will be restricted from transferring assets out of your trading account.
Asset transfers will return to normal after 30 minutes. Order history and billings records will still be available after the delisting. If you need to backup your data, you may download it via Report Center on OKX web.
In order to ensure successful delivery of CQTUSDT/BZZUSDT/CONVUSDT/RSS3USDT/LATUSDT perpetual swaps during the delisting, the following adjustments are made to our risk control parameters:
1) Adjustment of price limit rules
How the limit price is calculated:
|
Period |
Highest Price Limit |
Lowest Price Limit |
|
Within 10 minutes of contract generation |
Index *(1+X) |
Index *(1-X) |
|
10 minutes after contract generation |
Min[Max(Index, Index *(1+Y)+ Average premium over the 10 ten minutes), Index *(1+Z)] |
Max[Min(Index, Index *(1-Y)+ Average premium over the past 10 minutes), Index *(1-Z)] |
Adjusted price limit rules:
|
Time |
X |
Y |
Z |
|
8:00AM (UTC) Aug 10 (48 hours before delivery) |
2% |
2% |
5% |
|
7:30AM (UTC) Aug 12 (30 minutes before delivery) |
1% |
1% |
2% |
Note: If there is a deviation from the contract price before then, the price limit will be adjusted according to market conditions.
Regards,
OKX
Aug 16, 2022 (UTC)
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A step-by-step guide to purchasing and selling crypto on OKX,
Step 1: Log in to your OKX account
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Step 2: Select Buy/Sell
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Step 3: Select your purchasing method
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Finally, simply confirm your transaction details.
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