Dear OKX Users,
To mitigate market risks and ensure optimal trading experiences, OKX periodically reviews and delists certain perpetual contracts and leveraged trading pairs. Below are the detailed delisting plans:
1. Perpetual Contracts Delisting
| Contract Name | Delisting Time |
|---|---|
| WAVESUSDT | February 1, 2024, 4:00–5:00 PM (UTC+8) |
Key Details:
- Trading Halt: At delisting, all pending orders will be canceled.
- Settlement Price: The arithmetic average of OKX’s index price 1 hour before delisting.
- Abnormal Price Handling: If price manipulation occurs, OKX may adjust the settlement price for fairness.
Fees and Adjustments:
- Final funding rate: 0 (no billing record).
- No additional fees (e.g., settlement or funding fees).
Risk Management:
- Users are advised to reduce leverage or close positions preemptively.
- Auto-deleveraging (ADL) may apply if insurance funds are insufficient.
Post-Delisting:
- Accounts with >$10,000 in positions face a 30-minute transfer restriction.
- Historical orders remain accessible; download via desktop Order Center.
Adjusted Price Limits Before Delisting:
| Timeframe | X (Initial) | Y (Post-10min) | Z (Ceiling) |
|---|---|---|---|
| 48 hours prior | 2% | 2% | 5% |
| 30 minutes prior | 1% | 1% | 2% |
👉 Learn about OKX’s risk management
2. Leverage Trading and Flexible Loans
| Trading Pair | Borrowing Halt Time | Delisting Time |
|---|---|---|
| WAVES/USDT | January 26, 2024, 2:00 PM (UTC+8) | February 2, 2024, 2:00 PM (UTC+8) |
Actions Required:
- Repay loans before delisting to avoid forced repayment.
- Manual closing is recommended due to potential volatility.
3. Discount Rate Adjustment for WAVES
| Tier (USD) | Old Rate | New Rate |
|---|---|---|
| 0–250,000 | 0.8 | 0 |
| 250,000–500,000 | 0.7 | 0 |
| 500,000–1,000,000 | 0.5 | 0 |
| >1,000,000 | 0 | 0 |
Note: Discount rates adjust asset valuation in cross-margin accounts based on liquidity risks.
👉 Explore OKX’s discount rate policies
FAQs
Q1: Why is OKX delisting WAVES contracts?
A: To manage market risks and maintain platform stability amid volatility.
Q2: What happens to my open WAVES positions?
A: Positions are settled automatically at the calculated price; manual closure is advised.
Q3: How does forced repayment work?
A: Unrepaid loans trigger system repayment, potentially at unfavorable rates.
Q4: Can I trade WAVES after delisting?
A: No; trading halts permanently for the specified pairs.
OKX remains committed to delivering top-tier products and services.
OKX Team
January 25, 2024