OKX Delists RNDR Futures and Margin Trading

In order to improve market liquidity as well as overall user experience, OKX will delist some margin trading pairs and perpetual swap contracts.

Okx Delists Rndr Futures And Margin Trading

Detailed Information:

Perpetual Futures Trading

Perpetual Futures Contract: RNDRUSDT

Delisting Date: July 9, 2024

OKX will delist these perpetual futures contracts and terminate the related trading activities. Orders in the order book will also be canceled following the delisting. OKX will settle all positions of the above-mentioned perpetual futures at the average price of the respective OKX index, calculated one hour prior to delisting.

If the index price shows abnormal behavior during the hour before delisting, OKX may adjust the final settlement price to a reasonable level.

The current funding rate on the delisting date will be 0. Consequently, funding fees for this period will not be included in the settlement records.

Render Token
Render Token

Given that the market may experience significant volatility before delisting, please manage your risk levels by reducing leverage or closing positions in advance.

Within the first 30 minutes after delisting, if you hold positions valued over $10,000 in the aforementioned perpetual contracts at the time of settlement, you will be restricted from transferring assets out of your trading account.

Asset transfers will return to normal after 30 minutes. Order history and settlement records will remain accessible post-delisting. If you need to back up your data, you can download it through the report center on the OKX website.

To ensure the successful settlement of the above perpetual futures contracts during the delisting process, we are implementing the following adjustments to risk control parameters:

Duration Maximum price limit Lowest price limit
Within 10 minutes of contract creation Index × (1 + X) Index × (1 – X)
10 minutes after contract creation Min[Max(Index, Index × (1 + Y) + Average 10-Min Premium), Index × (1 + Z)] Min[Max(Index, Index × (1 – Y) + Average 10-minute premium), Index × (1 – Z)]

Adjust price limit regulations:

Time X AND WITH
48 hours before distribution 2% 2% 5%
30 minutes before distribution 1% 1% 2%

OKX will suspend margin trading and flexible lending during the specified delisting times, and pending margin orders will be canceled. Each crypto pair will require approximately one hour to suspend trading. Users with loans or collateral in the affected crypto pairs must ensure repayment before the delisting time. Forced liquidation will be triggered if loans are not repaid before delisting.

Related: OKX Ventures Announces Investment in Codatta

Note: Extreme price volatility may occur. To avoid losses due to forced liquidation, it is advisable to stop trading the listed pairs and close all underlying positions beforehand.

Discount Adjustment:

Asset Before Or
Level (USD) Discount rate Level (USD) Discount rate
RNDR 0 – 50.000 0,5 0 0
> 50.000 0

Overview of Discount Rates: With the multi-currency cross margin mode, different currencies in the cross margin account can be converted into USD value and used as margin. Due to significant differences in market liquidity for each currency, our platform calculates the actual USD value of certain cryptocurrencies based on specific discount rates to balance market risk.

4.0/5

(2 votes)
  1. Avatar of Ahmadu Garba Dambam
    Ahmadu Garba Dambam

    Nice one

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