OKX to Delist AGIX Margin Trading Pair and Perpetual Futures

OKX, a leading cryptocurrency exchange, has announced the delisting of the AGIX/USDT margin trading pair and AGIXUSDT perpetual futures. This decision aligns with SingularityNET’s official migration requirements, according to OKX’s official statement.

Details of the Delisting

The delisting process will unfold in two stages:

Perpetual Futures Trading:Pair: AGIXUSDTDelisting Time: June 28, 2024, from 8:00 to 9:00 am UTCMargin Trading Pair:Pair: AGIX/USDTCease Borrowing Feature: June 26, 2024, at 8:00 am UTCDelisting 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. Should the index price show abnormalities during this period, OKX reserves the right to adjust the final delivery price to a reasonable level.

Risk Management and User Advisory

OKX advises users to manage their risk levels by reducing actual leverage multiples or closing positions in advance, considering the potential for sharp market fluctuations before delisting. Additionally, those holding positions greater than $10,000 in value at the time of delivery will face a 30-minute restriction on transferring assets out of their trading accounts. Asset transfers will return to normal after this period.

Furthermore, OKX has adjusted its risk control parameters, including price limit rules:

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 adjustments aim to ensure the successful delivery of the perpetual futures during the delisting process.

Margin Trading Adjustments

For margin trading, OKX will suspend margin trading and flexible loan features at the specified delisting times. Open orders for margin 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 adjusted its discount rates for AGIX:

Before: 0-50,000 USD tier at 0.5% discount rate; >50,000 USD tier at 0% discount rateAfter: 0 USD tier at 0% discount rate

These discount rates reflect the platform’s strategy to balance market risks due to significant differences in market liquidity for each currency.

Conclusion

Users are encouraged to back up their data via the report center on the OKX website. The delisting of AGIX/USDT margin trading pair and AGIXUSDT perpetual futures is a significant move by OKX to comply with SingularityNET’s migration requirements.

For more details, visit the official announcement by OKX.

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