OKX, a leading cryptocurrency exchange, recently announced that it will be delisting the MSN/USDT futures and margin trading pair in order to increase market liquidity and enhance the overall user experience. The delisting process is scheduled to take place on August 6, 2024, between 11:00 and 12:00 Turkish time. Following the delisting, OKX will halt trading of MSN/USDT perpetual futures and remove all related orders from the order book.
All positions in the affected futures will be closed at the arithmetic average price of the relevant OKX index during the hour before delisting. In the event of abnormal price fluctuations during this period, OKX reserves the right to adjust the final delivery price to ensure a fair outcome for all users. Additionally, the funding rate at 11:00 on the delisting day will be set to 0, meaning no funding fees will be charged during this period.
OKX advises users to manage their risk levels by reducing leverage or closing positions before the delisting takes place in order to minimize potential market fluctuations. For users with positions exceeding $10,000 in value at the time of delivery, there will be restrictions on transferring assets from their trading accounts for the first 30 minutes after delisting. Normal asset transfer functionality will resume after this initial period.
Despite the delisting, users will still have access to their order history and billing records after being removed from the list. Those who wish to back up their data can do so through the report center on the OKX website. It is important to note that the information provided is not investment advice, and users are encouraged to conduct their own research and make informed decisions when trading cryptocurrencies.
Overall, the delisting of the MSN/USDT futures and margin trading pair by OKX is aimed at improving market liquidity and enhancing the user experience on the platform. By closing positions at a fair price and setting the funding rate to 0, OKX is working to ensure a smooth transition for users. It is important for users to manage their risk levels and be aware of any asset transfer restrictions during the delisting process. Despite these changes, users will still have access to their data and can continue trading on the OKX platform.
