OKX, a leading cryptocurrency exchange, is taking significant measures to increase market liquidity and improve the user experience. As part of this effort, the exchange has decided to delist several illiquid perpetual swap and margin trading pairs. By streamlining trading offers and optimizing trading conditions, the exchange aims to provide a better environment for its users.
OKX Delisting Details
The delisting of certain margin pairs and perpetual contracts will occur on specific dates and times. For instance, DORA/USDT will be delisted on August 24, 2023, at 11:00, while ENJ/USDT will also be delisted at the same date and time. After the delisting, all related orders in the order book will be canceled, and OKX will close the relevant transactions.
Smooth Transition and Price Adjustments
To ensure a smooth transition, OKX has established procedures for the delisting process. The exchange will close all open positions for DORA/USDT and EN/JUSDT perpetual swaps at the timed arithmetic average price of the respective OKX index one hour before delisting. In case of abnormal fluctuations in the index price within the hour before the delist, OKX reserves the right to adjust the final delivery price to a reasonable level for delivery.
Managing Market Volatility
OKX advises its users to take certain precautions to manage potential market volatility prior to the delisting. Users are encouraged to reduce their actual leverage multiples or close their positions ahead of time. By doing so, they can mitigate potential risks associated with market fluctuations and ensure a more stable trading experience.
Temporary Asset Transfer Restriction
To further facilitate the delisting process and prevent any disruptions, OKX has implemented a temporary asset transfer restriction for users holding positions worth more than USD 10,000 in DORAUSDT and ENJUSDT perpetual contracts. For the first 30 minutes after delisting, these users will be restricted from transferring assets from their trading accounts. After this initial period, asset transfers will return to normal, allowing users to resume their regular trading activities.