As part of an ongoing commitment to optimizing platform efficiency and enhancing user experience, OKX will officially delist WEMIX trading pairs across multiple product lines. This strategic move aligns with the OKX Token Delisting / Hiding Guideline and takes into account community feedback and liquidity considerations. The delisting will affect spot trading, margin trading, perpetual contracts, flexible loans, and WEMIX Savings products.
This article outlines the complete timeline, procedural changes, risk management measures, and user recommendations related to the delisting of WEMIX. Whether you're currently holding positions or have open orders, understanding these updates is crucial for safeguarding your assets and ensuring smooth account operations.
Spot Trading: Cessation of WEMIX Pairs
OKX will officially remove all WEMIX spot trading pairs from the platform at 13:00 UTC on December 8, 2022. At this time:
- All active WEMIX/USDT and related spot orders will be automatically canceled.
- Trading functionality for these pairs will be permanently disabled.
- Users are strongly advised to close any open positions before the deadline.
Liquidity may decline significantly in the hours leading up to delisting, increasing slippage and price volatility. Proactively managing your holdings reduces exposure to unexpected market swings.
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Margin Trading & Flexible Loan: Key Deadlines and Actions
To ensure system stability and risk control, OKX has implemented a phased shutdown for margin-related services involving WEMIX.
| Margin Trading Pair | Borrowing Feature Ceased | Full Delisting Time |
|---|---|---|
| WEMIX/USDT | December 8, 2022, 09:00 UTC | December 8, 2022, 10:00 UTC |
Important Notes:
- Margin trading and flexible loan functions will be suspended during the one-hour window between 09:00 and 10:00 UTC.
- All open margin orders will be canceled upon delisting.
- Users with outstanding borrowings or collateral tied to WEMIX must repay debts before the cutoff times.
- Failure to repay will trigger forced repayment mechanisms, which may result in liquidation at unfavorable rates.
Additionally, margin adjustments have already been disabled for WEMIX/USDT isolated positions. Users are urged to close these positions promptly to avoid automatic liquidation due to market volatility.
⚠️ User Advisory: Prices may experience extreme fluctuations as delisting approaches. To minimize risk, cease trading and exit all leveraged positions early.
Perpetual Contracts: Delivery Process and Risk Controls
To mitigate risks associated with price instability during the WEMIX migration phase, OKX will delist the WEMIXUSDT perpetual swap at 09:00 UTC on December 8, 2022.
Key Details:
- Trading will halt immediately at the delisting time.
- All pending orders on the order book will be canceled.
- Open positions will be delivered (settled) at the arithmetic average price of the OKX index over the one hour preceding delisting (i.e., from 08:00 to 09:00 UTC).
- In case of index price anomalies during this period, OKX reserves the right to adjust the final delivery price to a fair and reasonable level.
Asset Transfer Restrictions
For risk management purposes:
- Users holding perpetual contract positions valued over $10,000 at delivery time will face a 30-minute restriction on transferring assets out of their Trading Account.
- These restrictions will be lifted automatically after 30 minutes.
This measure helps prevent systemic risks during high-volatility transitions while maintaining platform integrity.
Enhanced Risk Control Parameters for Perpetuals
To maintain orderly trading conditions ahead of delisting, OKX has adjusted price limit rules for the WEMIXUSDT perpetual contract.
Price Limit Formula Overview
The price limits are dynamically calculated based on the index price and recent market premiums:
Within 10 minutes of contract generation:
- High:
Index × (1 + X) - Low:
Index × (1 – X)
- High:
After 10 minutes:
- High:
Min[Max(Index, Index × (1+Y) + Avg Premium), Index × (1+Z)] - Low:
Max[Min(Index, Index × (1–Y) + Avg Premium), Index × (1–Z)]
- High:
Adjusted Parameters
| Time | X | Y | Z |
|---|---|---|---|
| 04:00 UTC (Dec 8) – 5 hours before delivery | 2% | 2% | 5% |
| 08:30 UTC (Dec 8) – 30 minutes before delivery | 1% | 1% | 2% |
These tightening measures reduce the likelihood of extreme price deviations and protect users from sudden liquidations.
Note: OKX may make real-time adjustments if significant market deviations occur prior to delisting.
Discount Rate Adjustment for Cross-Margin Accounts
In multi-currency cross-margin mode, different cryptocurrencies contribute varying levels of risk due to differences in liquidity. To manage this, OKX applies discount rates when calculating usable margin value.
Effective 10:00 UTC on December 8, 2022, the discount rate for WEMIX will be adjusted as follows:
| Asset | Previous Tier (USD) | Previous Discount Rate | New Tier (USD) | New Discount Rate |
|---|---|---|---|---|
| WEMIX | 0–50,000 | 50% | All tiers | 0% |
| >50,000 | — |
This means WEMIX will no longer count toward margin value in cross-margin accounts after this time. Users relying on WEMIX as collateral should reevaluate their leverage exposure and consider adding more stable assets.
WEMIX Savings: Automatic Redemption Process
Following the suspension of borrowing features:
- Subscription to WEMIX Savings products will be disabled.
- Once margin trading is fully offline, OKX will automatically redeem all WEMIX savings assets.
- Redeemed funds will be transferred to your Funding Account for further use or withdrawal.
Users do not need to manually redeem—this process is handled by the system. However, it's recommended to monitor your account status post-delisting to ensure smooth fund availability.
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Frequently Asked Questions (FAQ)
Q: Why is OKX delisting WEMIX pairs?
A: The decision follows OKX’s standard token review process, which evaluates liquidity, user demand, and long-term project viability. Based on internal metrics and user feedback, discontinuing WEMIX trading services supports a healthier trading ecosystem.
Q: What happens if I don’t close my margin position before delisting?
A: Unresolved positions will be canceled, and any unpaid borrowings may trigger forced repayment or liquidation. You could incur losses due to unfavorable market execution.
Q: Will I lose my WEMIX tokens after delisting?
A: No. Your tokens remain safe. Any holdings in spot or funding accounts will stay accessible. Savings assets will be auto-redeemed and returned to your funding account.
Q: Can I still withdraw WEMIX after delisting?
A: Yes. While trading pairs are removed, deposit and withdrawal functions may remain active depending on blockchain support. Check the Assets page for updates.
Q: How can I back up my trade history?
A: Navigate to the “Report Center” on the OKX web interface before delisting to download historical orders, bills, and transaction records.
Q: Where can I get help about this change?
A: For assistance, visit the OKX Support Center or join the official OKX Telegram group for real-time updates.
Final Reminders
The delisting of WEMIX marks a routine adjustment aimed at maintaining a robust and user-focused trading environment. While changes can feel disruptive, they reflect OKX’s proactive approach to risk management and market quality.
Key actions before December 8:
- Close all spot, margin, and perpetual positions.
- Repay any WEMIX-denominated loans.
- Monitor automatic savings redemptions.
- Download necessary transaction data.
Stay informed, stay secure, and continue building your crypto journey with confidence.
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