OKX to delist FRONT margin trading pair and perpetual future

In order to improve market liquidity and improve the overall user experience, OKX will delist several perpetual futures and margin trading pairs. The details are as follows：

1. Margin trading
   OKX will:

   Margin trading pairs	Cease borrowing feature	Delisting time
   FRONT/USDT	September 2, 2024, 2:00 am UTC	September 4, 2024, 3:00 ~ 4:00 am UTC

OKX will suspend margin trading and flexible loan at the delisting times listed above and open orders for margin will be canceled. Each crypto pair will take around 1 hour to suspend. Users with borrowings or collateral of the above crypto pairs in margin trading and flexible loans should make sure to repay before the delisting times. A forced payment will be triggered if unpaid borrowings remain due by the delisting time.
Please note: Prices may experience extreme fluctuations. To avoid losses caused by forced repayment, we recommend you stop trading the pairs listed above and close all underlying positions in advance.

2. Adjustment of discount

   Asset	Before		After
   	Tier (USD)	Discount rate	Tier (USD)	Discount rate
   FRONT	0-50,000	0.5	0	0
   	> 50,000	0

Discount rates overview
In multi-currency cross margin mode, different currencies in cross margin accounts can be converted into their USD value and used as margin. Due to significant differences in market liquidity of each currency, our platform calculates the actual USD value of certain crypto based on certain discount rates to balance market risks.
Learn more: https://www.okx.com/trade-market/discountrate

3. Perpetual futures trading

   Perpetual futures	Delisting time
   FRONTUSDT	September 4, 2024, 8:00 am UTC

OKX will delist these perpetual futures and terminate the relevant trades. Relevant orders in the order book will also be canceled after the delisting.
OKX will deliver all the above-mentioned perpetual futures positions at the arithmetic average price of the corresponding OKX index between 7:00 am and 8:00 am UTC. If the index price displays abnormalities during the above-stated time preceding the delisting, OKX may adjust the final delivery price to a reasonable level for delivery.
The current funding rate at 8:00 am UTC on the day of delisting will be 0. Thus, ‌funding fees for this period will not be included in the billing record.
Considering that the market may fluctuate sharply before the delisting, please manage your risk level by reducing the actual leverage multiples or closing positions in advance.
Within the first 30 minutes after the delisting, if you hold positions greater than 10,000 USD in value in the above-mentioned perpetual 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 delisting. If you need to back up your data, you may download it ‌through the report center on the OKX website.
In order to ensure the successful delivery of the above-mentioned perpetual futures during the delisting, the following adjustments are made to our risk control parameters:

1. Adjustment of price limit rules
   How the limit price is calculated:

   Period	Highest price limit	Lowest price limit
   Within 10 minutes of contract generation	Index × (1 + X)	Index × (1 – X)
   10 minutes after contract generation	Min[Max(Index, Index × (1 + Y) + Average premium over the 10 minutes), Index × (1 + Z)]	Max[Min(Index, Index × (1 – Y) + Average premium over the past 10 minutes), Index × (1 – Z)]

Adjusted price limit rules:

Note: If there is a deviation from the contract price before then, the price limit will be adjusted according to market conditions.

4. Adjustment of position tiers
   In order to improve market liquidity and mitigate risks, OKX will adjust the position tiers of FRONTUSDT perpetual at 6:00 am – 7:00 am (UTC) on September 2, 2024.
   Specific adjustment details are as follows:

   Contract	Tier	Before				After
   		Max. amount (Cont)	Maintenance margin ratio	Min. initial margin ratio	Max. leverage	Max. amount (Cont)	Maintenance margin ratio	Min. initial margin ratio	Max. leverage
   FRONTUSDT Perpetual	1	500	0.65%	2.00%	50	1,500	2.00%	5.00%	20
   	2	1,000			40	3,000	3.00%	6.66%	15
   	3	2,000	1.50%	5.00%	20	4,500	4.00%	8.00%	12.5
   	4	Increase by 2,000 conts from the previous tier	Increase by 0.5% from the previous tier	Increase by 0.5% from the previous tier	Max. leverage of the tier	Increase by 1,500 conts from the previous tier	Increase by 0.5% from the previous tier	Increase by 0.5% from the previous tier	Max. leverage of the tier

Learn more: Position tiers

Risk disclaimer
Users' maintenance margin ratio may increase because of tier adjustments and market volatility. To prevent forced liquidations caused by these adjustments, users are encouraged to decrease leverage by either increasing margins or closing positions.

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 nor 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 iliquid 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 regarding this adjustment, please feel free to contact us via the OKX Telegram group or the Support Center.

OKX team
September 2, 2024