OKX Postpones Delisting of ZK Margin Trading Pair and Perpetual Futures
Terrill Dicki May 31, 2024 09:07
OKX announces postponement of ZK margin trading pair and perpetual futures delisting.
Cryptocurrency exchange OKX has announced a postponement for the delisting of the ZK margin trading pair and perpetual futures, according to the official source. This decision impacts both the ZK/USDT margin trading pair and the ZKUSDT perpetual futures contract.
Perpetual Futures Delisting
The ZKUSDT perpetual futures contract was originally scheduled for delisting on June 6, 2024, at 8:00 am UTC. However, the updated time is now set for June 5, 2024, at 9:00 am UTC. This adjustment provides traders with additional time to close their positions and manage their portfolios effectively.
Margin Trading Pair Delisting
The ZK/USDT margin trading pair will also be postponed, with the cease borrowing feature now effective from February 1, 2024, at 6:00 am UTC. The delisting time for this pair is updated to June 5, 2024, at 9:00 am UTC. OKX will suspend margin trading and flexible loans at the specified delisting times, and any open margin orders will be canceled approximately one hour before the delisting.
Traders are advised to repay any borrowings or collateral involving the ZK/USDT pair before the delisting time to avoid forced repayments. Market participants should note that prices may experience significant fluctuations during this period. Therefore, it is recommended to stop trading the affected pairs and close all underlying positions beforehand to prevent potential losses.
Adjustment to Discount Rate
In addition to the postponement, OKX has announced adjustments to the discount rate for ZK. Previously, the discount rate was tiered based on the USD amount, with rates of 0.5% for amounts between 0 to 50,000 USD and 0% for amounts exceeding 50,000 USD. The new adjustment simplifies the discount structure to a flat 0% rate regardless of the USD tier.
This adjustment aims to streamline the discount rate structure and provide a more straightforward trading experience for users dealing in ZK.
The postponement and adjustments reflect OKX's commitment to providing a stable and user-friendly trading environment.
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