As part of its ongoing efforts to manage market risk and ensure a secure, high-quality trading environment, OKX has announced the planned delisting of several perpetual contracts and margin trading pairs. This strategic move reflects the platform’s commitment to maintaining market stability, protecting user assets, and continuously improving risk control mechanisms.
The following sections outline the detailed timeline, procedures, and adjustments related to the delisting process for specific contracts and trading pairs.
Perpetual Contracts Delisting Schedule
OKX will officially delist the following perpetual contracts on December 19, 2023, between 4:00 PM and 5:00 PM (UTC+8):
- XMRUSDT
- XMRUSD
- DASHUSDT
- DASHUSD
- ZECUSDT
- ZECUSD
- ZENUSDT
At the time of delisting:
- Trading for these contracts will be suspended.
- All open orders will be automatically canceled.
- User positions will be settled using the arithmetic average of the OKX index price during the hour preceding delisting.
- If the index price is suspected of manipulation during this period, OKX reserves the right to adjust the final settlement price to a fair and reasonable level.
Key Settlement Details
- The funding rate for the 4:00 PM (UTC+8) cycle will be set to 0, and no funding fees will be charged.
- No additional fees, including delivery fees, will apply during the settlement process.
- Users are strongly advised to reduce leverage or close positions in advance due to potential market volatility before delisting.
- In the event of liquidation losses exceeding available collateral, insurance funds will cover the deficit first. If insufficient, automatic position reductions (ADL) will begin with users showing the highest profit margins.
After delisting:
- Users with a position value exceeding $10,000 in the affected contracts will face temporary restrictions on asset transfers across their trading accounts. These restrictions will be lifted after 30 minutes.
- Historical order records and billing details will remain accessible. Users are encouraged to download their data via the desktop Order Center before or shortly after delisting.
Adjustments to Risk Control Parameters
To ensure a smooth and orderly delisting process, OKX has implemented temporary adjustments to the price limit rules for the affected perpetual contracts.
Updated Price Limit Formula
The price limits are calculated as follows:
During Initial 10 Minutes After Contract Launch:
- Upper Limit: Index × (1 + X)
- Lower Limit: Index × (1 – X)
After First 10 Minutes:
- Upper Limit: Min[ Max(Index, Index × (1 + Y) + 10-minute average premium), Index × (1 + Z) ]
- Lower Limit: Max[ Min(Index, Index × (1 – Y) + 10-minute average premium), Index × (1 – Z) ]
Temporary Adjustments Before Delisting
| Time Before Delisting | X | Y | Z |
|---|---|---|---|
| 48 hours | 2% | 2% | 5% |
| 30 minutes | 1% | 1% | 2% |
Note: These parameters may be further adjusted at OKX’s discretion if abnormal price deviations occur prior to delisting.
Margin Trading and Flexible Savings Delisting Plan
In parallel with perpetual contract adjustments, OKX will also phase out several margin trading pairs and associated borrowing functions. Below is the detailed schedule:
| Margin Pair | Borrowing Suspension (UTC+8) | Delisting Time (UTC+8) |
|---|---|---|
| ZEC/BTC | Dec 15, 2:00 PM | Dec 19, 11:00 AM |
| DASH/BTC | — | Dec 19, 12:00 PM |
| XMR/USDC | — | Dec 19, 2:00 PM |
| XMR/BTC | — | Dec 19, 3:00 PM |
| ZEN/USDT | — | Dec 19, 5:00 PM |
| ZEC/USDT | — | Dec 19, 6:00 PM |
| DASH/USDT | — | Dec 19, 7:00 PM |
| XMR/USDT | — | Dec 19, 8:00 PM |
At each specified time:
- Margin trading and flexible savings services for the relevant pairs will be suspended.
- All open market orders will be canceled.
- The entire delisting process per pair is expected to take approximately one hour.
Users with outstanding loans or staked assets in these pairs must repay borrowed funds before delisting. Failure to do so will trigger an automatic repayment mechanism, which may result in unexpected losses due to market fluctuations.
👉 Learn how OKX helps traders manage margin positions safely with real-time risk monitoring.
Collateral Discount Rate Adjustments
To better reflect market liquidity and volatility, OKX has updated the collateral discount rates for certain cryptocurrencies under cross-margin account mode.
New Discount Rates
| Cryptocurrency | Tier (USD Value) | Previous Discount Rate | New Discount Rate |
|---|---|---|---|
| XMR, DASH, ZEC | $0 – $250,000 | 0.8 | 0 |
| $250,000 – $500,000 | 0.7 | ||
| $500,000 – $1,000,000 | 0.5 | ||
| >$1,000,000 | 0 | ||
| ZEN | $0 – $50,000 | 0.5 | 0 |
| >$50,000 | — |
Understanding Collateral Discounting
In cross-margin mode, multiple cryptocurrencies can be used as collateral after being converted into USD value. However, due to differences in market depth and volatility, OKX applies discount rates to mitigate risk exposure. A higher discount rate implies greater confidence in the asset’s liquidity; a rate of zero means the asset will no longer contribute to margin collateral.
This adjustment aligns with industry best practices and enhances overall system resilience.
Frequently Asked Questions (FAQ)
Q1: Why is OKX delisting these contracts and pairs?
OKX regularly reviews its product offerings to manage risk, ensure market integrity, and provide a safer trading experience. Low liquidity or elevated volatility in certain assets may prompt such actions.
Q2: What happens if I don’t close my position before delisting?
Your position will be automatically settled using the pre-delisting index average. While no extra fees apply, market conditions may lead to unfavorable settlement prices.
Q3: Can I still access my trading history after delisting?
Yes. All historical orders and transaction records remain available for viewing and download via the desktop Order Center.
Q4: Will I be charged for forced repayment on margin pairs?
There are no additional penalties, but automatic repayment uses real-time market prices, which could result in losses if prices move unfavorably.
Q5: Why were discount rates reduced to zero?
Reducing discount rates improves risk management by reflecting current market liquidity conditions. Assets with limited trading volume or high volatility are treated more conservatively.
Q6: How can I stay informed about future changes?
Monitor official OKX announcements regularly. Subscribing to platform alerts ensures timely updates on product changes and maintenance schedules.
Final Notes
OKX remains committed to delivering a secure, transparent, and user-focused trading ecosystem. These updates are designed not only to reduce systemic risk but also to empower users with clearer guidelines and enhanced protection mechanisms.
Traders are encouraged to review their open positions, manage leverage responsibly, and take proactive steps ahead of scheduled delistings.
👉 Stay ahead of market changes with OKX’s advanced trading tools and real-time alerts.