OKX to Delist AGIX/USDT Margin Trading Pair and Perpetual Futures

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:

1. 
   Perpetual
   Futures
   Trading:
   • 
     Pair:
     AGIXUSDT
   • 
     Delisting
     Time:
     June
     28,
     2024,
     from
     8:00
     to
     9:00
     am
     UTC
2. 
   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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source:
Shutterstock