OKX to delist futures for FILUSDT and LINKUSDT

Published on Dec 26, 2022Updated on Apr 12, 20243 min read

In light of recent market conditions, FILUSDT and LINKUSDT liquidity has deteriorated. In order to avoid unforeseen market risks and improve the overall user experience, OKX will delist FILUSDT and LINKUSDT futures contracts (including weekly, bi-weekly, quarterly, bi-quarterly contracts) at 7:00 am UTC and 8:00 am UTC respectively on Dec 29, 2022. Relevant orders on the order book will also be canceled after the delisting.

OKX will deliver FILUSDT and LINKUSDT futures contracts positions at corresponding contract's arithmetic average last traded price timed at 1 hour prior to the delisting.

If the traded price displays abnormalities in the hour preceding the delisting, OKX may adjust the final delivery price to a reasonable level for delivery.

Considering that the market may fluctuate sharply before the delisting, please manage your risk level by reducing the actual leverage multiples or closing positions in advance.

Within the first 30 minutes after the delisting, if you hold positions greater than 10,000 USD in value in FILUSDT and LINKUSDT futures contracts at the time of delivery, you will be restricted from transferring assets out of your trading account.

Asset transfers will return to normal after 30 minutes. Order history and billings records will still be available after the delisting. If you need to backup your data, you may download it via Report Center on OKX web.

In order to ensure successful delivery of FILUSDT and LINKUSDT futures contracts during the delisting, the following adjustments are made to our risk control parameters:

1) Adjustment of price limit rules

How the limit price is calculated:

Period Highest Price Limit Lowest Price Limit
Within 10 minutes of contract generation Index *(1+X) Index *(1-X)
10 minutes after contract generation Min[Max(Index, Index *(1+Y)+ Average premium over the 10 ten minutes), Index *(1+Z)] Max[Min(Index, Index *(1-Y)+ Average premium over the past 10 minutes), Index *(1-Z)]
Adjusted price limit rules:
Time X Y Z
48 hours before delivery 2% 2% 5%
30 minutes before delivery 1% 1% 2%
Note: If there is a deviation from the contract price before then, the price limit will be adjusted according to market conditions.
2) Adjustment of position tiers
Contract Tier Max. amount (Cont) (Before) Max. amount (Cont) (After) Maintenance margin ratio Min. initial margin ratio Max. leverage Adjustment Time
FILUSDT Futures 1 1 1 1.00% 1.30% 75 --
FILUSDT Futures 2 3 3 1.50% 2.00% 50
FILUSDT Futures 3 2,000 2,000 2.00% 5.00% 20
FILUSDT Futures 4 4,000 4,000 2.50% 5.50% 18.18
FILUSDT Futures 5 6,000 6,000 3.00% 6.00% 16.66
FILUSDT Futures 6 Increase by 2,000 conts from the previous tier Increase by 2,000 conts from the previous tier Increase by 0.5% from the previous tier Increase by 0.5% from the previous tier Max. leverage of the tier
LINKUSDT Futures 1 1 1 0.80% 1.30% 75 7:00 am UTC on Dec 27
LINKUSDT Futures 2 3 3 1.00% 2.00% 50
LINKUSDT Futures 3 5 5 1.50% 3.00% 33.33
LINKUSDT Futures 4 7 7 2.00% 3.50% 28.57
LINKUSDT Futures 5 4,000 2,000 2.50% 4.00% 25
LINKUSDT Futures 6 Increase by 4,000 conts from the previous tier Increase by 2,000 conts from the previous tier Increase by 0.5% from the previous tier Increase by 0.5% from the previous tier Max. leverage of the tier

Regards,

OKX

Dec 26, 2022 (UTC)

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