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Postponement of face value adjustment

Published on May 8, 20213 min read

Due to increased market volatility, the face value adjustment for USDT-margined perpetual swap and futures trading originally scheduled for 9:00 am UTC on May 25 has been postponed. The new adjustment time will be announced soon.

OKX
May 25, 2021 (UTC)

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OKX to adjust the Face Value for USDT-margined Perpetual Swap and Futures Trading

To enhance the liquidity of our USDT-margined perpetual swaps and futures markets, we will adjust the face values of USDT-margined contracts, as detailed below. The face values of the following USDT-margined contracts will be adjusted at 9:00 am May. 25 (UTC).

The face value adjustments will be estimated to last for 30 minutes, during which we will suspend the corresponding trading services for Classic account mode and will suspend all trading services for Unified account mode. Users will not be allowed to place or cancel orders, add margins and transfer fund. In order to ensure trading safety and control risk, please take necessary measures in advance, such as canceling orders, reducing positions, or adding margin to avoid potential risks.

1. Contracts to be adjusted

I. USDT-margined perpetual swaps

Contract

Current Face Value

Adjusted Face Value

Adjustment Multiplier

BTCUSDT

0.01

0.001

1/10

ETHUSDT

0.1

0.001

1/100

ADAUSDT

100

1

1/100

ATOMUSDT

1

0.1

1/10

BCHUSDT

0.1

0.01

1/10

BNTUSDT

10

1

1/10

BSVUSDT

1

0.01

1/100

BTTUSDT

10000

1000

1/10

COMPUSDT

0.1

0.01

1/10

CVCUSDT

100

10

1/10

DASHUSDT

0.1

0.01

1/10

DOGEUSDT

1000

10

1/100

DOTUSDT

1

0.1

1/10

EOSUSDT

10

1

1/10

ETCUSDT

10

0.1

1/100

IOSTUSDT

1000

100

1/10

LINKUSDT

1

0.1

1/10

LTCUSDT

1

0.01

1/100

MKRUSDT

0.01

0.001

1/10

NEARUSDT

10

1

1/10

NEOUSDT

1

0.1

1/10

THETAUSDT

10

1

1/10

TRXUSDT

1000

10

1/100

XLMUSDT

100

10

1/10

XMRUSDT

0.1

0.01

1/10

XRPUSDT

100

1

1/100

ZECUSDT

0.1

0.01

1/10

ZENUSDT

1

0.1

1/10

II. USDT-margined futures

Contract

Current Face Value

Adjusted Face Value

Adjustment Multiplier

BTCUSDT

0.01

0.001

1/10

ETHUSDT

0.1

0.001

1/100

ADAUSDT

100

1

1/100

BCHUSDT

0.1

0.01

1/10

BSVUSDT

1

0.01

1/100

DOTUSDT

1

0.1

1/10

EOSUSDT

10

1

1/10

ETCUSDT

10

0.1

1/100

LINKUSDT

1

0.1

1/10

LTCUSDT

1

0.01

1/100

TRXUSDT

1000

10

1/100

XRPUSDT

100

1

1/100

2. Changes on holdings and pending orders

During the adjustment, users’ positions and number of pending orders relating to the above contracts will also be adjusted, those of other contracts will remain unchanged. Details as follows:

Ⅰ. Holdings:

The number of contracts held will be increased by 1/X times after the adjustment, where X is the adjustment multiplier. If the unit is cryptocurrency, the number of tokens held will remain unchanged.

Example: Before the adjustment, the user holds 1 BTCUSDT perpetual swap contract with total value of 0.01 BTC; after the adjustment, the number contracts will be increased into 10 and the value will remain unchanged.

Ⅱ. Pending orders:

After the adjustment, the number of all pending orders will be increased by 1/X times, where X is the adjustment multiplier. If the unit is cryptocurrency, the number will remain the unchanged.

Example: Before the adjustment, the user places a limit order for 1 BTCUSDT perpetual swap contracts with total value 0.01 BTC; after the adjustment, the number of contracts for the order will be increased into 10 with the same total value.

. Position tiers:

After the adjustment, the position tiers will be increased by 1/X times, where X is the adjustment multiplier.

Example: Before the adjustment, the max amount of position tier 1 for BTC perpetual swap is 500, with total value 0.05 BTC. After the adjustment, the max amount of position tier 1 for BTC perpetual swap will be increased into 5,000 with the same total value.

Thank you for your continued support and we assure you of our best services at all times.

Regards,
OKX
May. 8, 2021 (UTC)

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