OKX to adjust spot trading time and delivery time of pre-market futures for DOGS (DOGS)

Due to a change in time for DOGS issuance, OKX will adjust spot trading time and delivery time of pre-market futures for DOGS (DOGS). Please take note of the following schedule:

1. DOGS deposits will open at 9:00 am UTC on August 14, 2024.

2. DOGS call auction will take place from 11:00 am to 12:00 pm UTC on August 26, 2024.

3. DOGS/USDT spot trading will open at 12:00 pm UTC on August 26, 2024.

4. DOGS withdrawals will open at 10:00 am UTC on August 27, 2024.

About Call Auction

Project Introduction
The image of DOGS is inspired by Spotty, a mascot created by TON founder Pavel Durov for the Telegram community, embodying its unique spirit and culture.
Asset name: Dogs
Ticker: DOGS
Total Supply: 550,000,000,000
Contract address: https://tonviewer.com/EQCvxJy4eG8hyHBFsZ7eePxrRsUQSFE_jpptRAYBmcG_DOGS

Delivery of pre-market futures for DOGS crypto
We are pleased to announce that USDT-margined pre-market futures for DOGS will be delivered at 4:00 am UTC on Aug 26, 2024. The details are as follows:

1. Delivery time

Pre-market contracts are usually delivered 24 hours before listing on the spot market. If the listing time changes, then the contract delivery time changes accordingly. Stay informed of any changes via our announcements.

2. Delivery price

• Actual delivery price = The average index price over the last hour before delivery, calculated every 200 milliseconds (ms) (Index price = Last price every 200 milliseconds).

• Index price: The latest pre-market trading price on OKX is used as the index price. This index price is also used to determine the delivery price of the contract.

• Estimated delivery price = Rolling average index price over the last hour before delivery, calculated every 200 milliseconds (Index price = Last price every 200 milliseconds).

• OKX reserves the right to include prices from other exchanges as part of the index components.

3. Position limits

To reduce delivery risk, within the hour before pre-market futures delivery, users can no longer increase their positions and can only make the following closing orders or reverse orders to reduce their positions.

1. Hedge mode: place a closing order.

2. One-way mode: place a reduce-only order, or place a reverse order/pending order with quantity no greater than current position. If the quantity of accumulated reverse orders (including pending orders) is greater than the current position, then no new reduce-only orders can be placed. Please check pending orders before placing a new one.

Risk reminder: Prices in the pre-market futures are determined by market behavior and is not an indicator of fair market value. Pre-market contracts will be delivered before listing, and the market may fluctuate sharply before delivery. Users should stay informed about market conditions, exercise risk control, and trade cautiously.

4. Settlement fees

The settlement fee is 1%, subject to adjustment as announced.

5. Price limits

After pre-market contract generation:
Highest price of buy order = Average mid price of the past hour × (1 + 15%)
Lowest price of sell order = Average mid price of the past hour × (1 – 15%)

Within 60 minutes before delivery:
Highest price of buy order = Average mid price of the past hour × (1 + 5%)
Lowest price of sell order = Average mid price of the past hour × (1 – 5%)

Mid price = (Best bid price + Best ask price) / 2. Price limits are calculated every minute.

OKX will deliver futures contracts and terminate the relevant trades. Relevant orders on the order book will also be canceled after the delivery.
OKX will deliver futures contract positions at corresponding contract's arithmetic average last traded price timed at 1 hour prior to the delivery.
If the traded price displays abnormalities in the hour preceding the delivery, OKX may adjust the final delivery price to a reasonable level for delivery.
Within the first 30 minutes after the delivery, if you hold positions greater than 10,000 USD in value in DOGSUSDT futures 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 billing records will still be available after the delivery. If you need to backup your data, you may download it via Report Center on OKX web.

Considering that the market may fluctuate sharply before delivery, please manage your risk level by reducing the actual leverage multiples or closing positions in advance.

Risk warning: The foregoing overview and information, some of which may be provided by third parties and not OKX, are for informational and educational purposes only. OKX does not guarantee the accuracy or completeness of any information contained herein and such information does not constitute any representation, warranty or any financial, investment or other form of advice by OKX. Such information may not be suitable for all persons; it should not be relied upon in connection with a particular investor's trading; and, is not intended to be, nor should be construed as, an offer, recommendation or solicitation. Such information is also not intended for persons who reside in jurisdictions where providing such information would violate the laws or regulations of such jurisdiction. Digital assets are highly speculative and subject to high volatility, may become illiquid at any time, and that investors may lose the entire value of their investment. Before trading any digital asset, you should do your own research and evaluate your risk appetite. OKX is not responsible for any losses which you may incur from trading digital assets. Please refer to Terms of Service and Risk & Compliance Disclosure for more information.

For any inquiries, please feel free to contact us via the support center or connect with us on any platform of your choice.

OKX team
Aug 21, 2024