In order to improve market liquidity and provide better user experience, OKX will delist low-liquidity perpetuals.
OKX will delist the SWRVUSDT perpetual swaps at 8:00 am UTC on Aug 12, 2022, and trading for the pair will be stopped. Related orders on the order book will also be cancelled after the delisting.
OKX will deliver all the SWRVUSDT perpetual swap positions at the arithmetic average price of the corresponding OKX index one hour prior to the delisting.
If the index price display abnormalities in the hour preceding the delisting, OKX may adjust the final delivery price to a reasonable level at the time.
The current funding rate at 8:00 am UTC on the day of delisting will be 0 (funding fees for this period will not appear in the billing record).
Considering that the market may fluctuate sharply before the contract delisting, users are advised to practice risk-control measures by reducing the actual leverage multiples or closing positions in advance.
Within 30 minutes after the delisting, users who hold positions greater than $10,000 in value in SWRV/USDT perpetual contract at the time of delivery will also be restricted from transferring assets out of their Trading Account.
Restrictions on asset transfers will be lifted after 30 minutes. The historical orders and bills can still be queried after the delisting. If you need to backup your data, please download it promptly via the “Report Center” on the web interface.
In order to ensure the smooth delivery of SWRV/USDT perpetual contract during the delisting, the following adjustments are made to the risk control parameter settings:
1) Adjustment of price limit rules
The calculation formula of the limit price:
|Period||Highest Price Limit||Lowest Price Limit|
|Within 10 minutes of contract generation||Index *(1+X)||Index *(1-X)|
|10 minutes after the contract is generated||Min[Max(Index, Index *(1+Y)+ Average premium over the past ten minutes), Index *(1+Z)]||Max[Min(Index, Index *(1-Y)+ Average premium over the past ten minutes), Index *(1-Z)]|
Adjusted price limit rules:
|8:00 am UTC on Aug 10 (48 hours before delivery)||2%||2%||5%|
|7:30 am UTC on Aug 12 (30 minutes before delivery)||1%||1%||2%|
Note: If there is a deviation from the contract price before then, it will be adjusted according to market conditions.
Aug 5, 2022 (UTC)