OKX delists AGIX/USDT margin trading pair and perpetual futures! 🚫📉

OKX Announces Delisting of AGIX Margin Trading Pair and Perpetual Futures

OKX, a prominent crypto exchange, has revealed its decision to delist the AGIX/USDT margin trading pair along with AGIXUSDT perpetual futures. The move comes in compliance with SingularityNET’s official migration requirements as per OKX’s recent announcement.

Delisting Process Details

The delisting process will occur in two stages:

Perpetual Futures Trading:
- Pair: AGIXUSDT
- Delisting Time: June 28, 2024, from 8:00 to 9:00 am UTC
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. OKX reserves the right to adjust the final delivery price to a reasonable level if the index price fluctuates abnormally during this period.

Risk Management and User Advice

OKX recommends users to manage risk levels by adjusting leverage multiples or closing positions early, especially considering potential market volatility before delisting. Users with positions exceeding $10,000 during delivery will have a 30-minute restriction on asset transfers out of their trading accounts, returning to normal afterward.

Adjustments in risk control parameters, including price limit rules, have been made:

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 changes aim to ensure a smooth delivery process during the delisting.

Margin Trading Updates

Concerning margin trading, OKX will halt margin trading and flexible loan features at specified delisting times. Any open margin trading orders 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 modified 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 adjustments reflect OKX’s strategy to manage market risk due to varying liquidity levels for each currency.

Wrap Up

Users are advised to back up their data through the report center on the OKX website. The delisting of the AGIX/USDT margin trading pair and AGIXUSDT perpetual futures is a pivotal step by OKX to adhere to SingularityNET’s migration requirements.

For further information, refer to the official announcement by OKX.

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