OKX Announces Delisting of RNDR Margin Trading Pairs and Perpetual Futures
OKX recently announced its decision to delist RNDR margin trading pairs and perpetual futures in a strategic move aimed at improving market liquidity and enhancing the overall user experience.
Details of the Delisting
The perpetual futures trading pair RNDR/USDT is scheduled to be delisted on July 9, 2024, between 8:00 and 9:00 am UTC. OKX will terminate all related trades and cancel open orders in the order book. The exchange plans to settle all affected perpetual futures positions at the arithmetic average price of the OKX index one hour before delisting.
- If abnormal price fluctuations occur, OKX reserves the right to adjust the final delivery price.
- The funding rate will be set to zero at 8:00 am UTC on the delisting day, excluding any funding fees in the billing record for that period.
Risk Management and User Advisories
OKX recommends users manage risk levels by reducing leverage multiples or closing positions ahead of the delisting to mitigate potential market fluctuations. For positions exceeding $10,000 in value at delivery time, asset transfers out of trading accounts will be restricted for 30 minutes post-delisting.
- After the restricted period, normal transfer operations will resume.
- Order history and billing records will remain accessible for users.
Adjustments to Risk Control Parameters
OKX will modify its risk control parameters to ensure a smooth delivery of the delisted perpetual futures. Price limit rules will be adjusted as follows:
| Time | X | Y | Z |
|---|---|---|---|
| 48 hours before delivery | 2% | 2% | 5% |
| 30 minutes before delivery | 1% | 1% | 2% |
Margin Trading Adjustments
The margin trading pair RNDR/USDT will cease its borrowing feature on July 1, 2024, and undergo full delisting on July 8, 2024. Margin trading and flexible loans will be suspended at specified times, with all open orders canceled. Users with outstanding borrowings or collateral must repay before delisting to avoid forced repayment.
- Users are advised to close underlying positions in advance to prevent losses from price fluctuations.
Discount Rate Adjustments
In multi-currency cross margin mode, OKX will adjust discount rates for RNDR. Previously, rates varied based on tiers of investment. Post-adjustment, all tiers will have a zero discount rate.
Hot Take: Ensuring Smooth Transitions for Delisted RNDR Pairs and Futures
As OKX prepares to delist RNDR margin trading pairs and perpetual futures, users are urged to take proactive steps to manage risk, close positions, and adhere to the adjusted parameters for a seamless transition. By implementing these changes, OKX aims to optimize market liquidity and enhance the overall trading experience for its users.
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