To ensure market liquidity and trading stability, OKX will delist several perpetual futures and margin trading pairs. This article outlines the key details and schedule for the delisting process.
Key Dates and Timeline
The delisting process involves multiple stages, including the suspension of loans and the final removal of trading pairs. Below are the critical timelines for the affected assets.
Perpetual Futures Delisting
The WSMUSDT perpetual futures contract will be delisted according to the following schedule:
| Futures Name | Delisting Time |
|---|---|
| WSMUSDT | 8:00–9:00 UTC on February 6, 2024 |
All open positions for this contract will be closed automatically. OKX will use the arithmetic average of the OKX index price calculated one hour before delisting to settle these positions.
If the index price shows significant deviation during this period, OKX may adjust the final settlement price to a reasonable level to ensure fairness.
Please note that the funding rate for this contract will be set to 0 at 08:00 UTC on the delisting day. No funding fees will be charged on that day.
Margin Trading Pairs Delisting
The following margin trading pairs will be delisted:
| Margin Trading Pair | Loan Suspension Time | Delisting Time |
|---|---|---|
| WSM/USDT | 6:00 UTC on February 1, 2024 | 9:00 UTC on February 6, 2024 |
Margin trading and flexible loans for these pairs will be suspended at the specified times. All related open orders will be canceled automatically.
The delisting process for each pair is expected to take approximately one hour. Users are strongly advised to withdraw their funds from margin accounts and flexible loans involving these pairs before the delisting time.
Risk Management Adjustments
To ensure smooth settlement, OKX has implemented adjustments to the price limit mechanism for the affected perpetual futures contracts.
Price Limit Calculation
The price limit calculation follows this structure:
| Period | Maximum Price Limit | Minimum Price Limit |
|---|---|---|
| Within 10 minutes of contract creation | Index × (1 + X) | Index × (1 – X) |
| After 10 minutes of contract creation | Min[Max (index, index × (1 + Y) + average premium over past 10 minutes), index × (1 + Z)] | Max[Min (index, index × (1 – Y) + average premium over past 10 minutes), index × (1 – Z)] |
Adjusted Price Limit Parameters
The following parameters will be applied:
| Time | X | Y | Z |
|---|---|---|---|
| 48 hours before closing | 2% | 2% | 5% |
| 30 minutes before closing | 1% | 1% | 2% |
Note: If significant price deviation occurs before these times, OKX may adjust the limits according to market conditions.
Discount Rate Changes
OKX has updated the discount rates for the WSM asset in cross-margin mode:
| Asset | Tier (USD) | Discount Rate Before | Tier (USD) | Discount Rate After |
|---|---|---|---|---|
| WSM | 0–50,000 | 0.5% | 0 | 0% |
| > 50,000 | 0% |
Understanding Discount Rates
In multi-currency cross-margin mode, various currencies in cross-margin accounts are virtually converted into USD and used as collateral. Due to differences in market liquidity, OKX calculates the actual value of a cryptocurrency in USD using a specific discount rate to balance market risks.
👉 Learn more about discount rates and risk management
Important User Guidelines
To avoid potential issues, users should take the following steps before the delisting:
- Reduce leverage or close relevant positions in advance to avoid last-minute price volatility.
- Withdraw all funds related to WSM from margin platforms and flexible loans.
- Note that if positions exceeding $10,000 USD remain 30 minutes after delisting, asset transfers from the trading account will be temporarily restricted. This restriction will be lifted after 30 minutes.
The delisting will not affect order history or transaction records. Users can still access and download their data from the OKX order center.
Frequently Asked Questions
Why is OKX delisting WSM perpetual futures and margin pairs?
OKX periodically reviews market conditions and liquidity levels. To maintain a stable trading environment, certain assets may be delisted when they no longer meet the platform's standards.
What happens to my open positions after delisting?
All open positions for the delisted pairs will be automatically closed. For perpetual futures, settlement will be based on the index price one hour before delisting.
Can I still trade WSM on OKX after delisting?
No, both perpetual futures and margin trading for WSM will be discontinued. Users are advised to close all relevant positions and withdraw assets beforehand.
How are discount rates applied in cross-margin mode?
Discount rates help convert different cryptocurrencies into a standardized USD value for collateral purposes. This helps OKX manage liquidity risks and ensure platform stability.
Where can I find more information about OKX’s delisting policies?
For additional details, users can refer to the official OKX announcements or help center. Regular updates are provided to keep the community informed.
What should I do if I have an active loan involving WSM?
Repay the loan before the delisting time to avoid forced liquidation. Failure to do so may result in automatic repayment by the system.