Dear OKX Users,
Due to adjustments in the DOGS project's token issuance timeline, OKX will correspondingly modify the spot trading and pre-market contract delivery schedule for DOGS (DOGS). The updated arrangements are as follows:
- DOGS Deposit Opening: August 14, 5:00 PM (UTC+8)
- Call Auction Period: August 26, 7:00 PM – 8:00 PM (UTC+8)
- DOGS/USDT Spot Trading Launch: August 26, 8:00 PM (UTC+8)
- DOGS Withdrawal Opening: August 27, 6:00 PM (UTC+8)
👉 Learn more about call auction mechanisms
Project Overview
DOGS draws inspiration from Spotty—a mascot designed by TON founder Pavel Durov for the Telegram community—embodying the unique spirit and culture of Telegram users.
- Full Name: Dogs
- Ticker: DOGS
- Total Supply: 550,000,000,000
- Contract Address: View on TON Explorer
Pre-Market Delivery Contract Rules
The DOGS/USDT pre-market contract (USDT-margined delivery contract) will officially settle on August 26, 2024, 12:00 PM (UTC+8). Key details:
1. Delivery Time
Pre-market contracts typically settle 24 hours before spot listing. If the spot listing timeline changes, the contract delivery time will be adjusted accordingly. Monitor announcements for updates.
2. Delivery Price
- Final Price: Arithmetic mean of the index price (latest trade price) sampled every 200ms during the hour preceding delivery.
- Index Price: Derived from OKX’s pre-market contract trades.
- Estimated Price: Rolling average of the above sampling method.
- OKX reserves the right to include additional index components.
3. Position Limits
To mitigate delivery risks:
Last Hour Before Delivery: Users may only reduce positions via:
- Close Orders (in "Open/Close" mode).
- Reduce-Only Orders (in "Buy/Sell" mode).
- Reversing orders must not exceed existing holdings.
4. Delivery Fee
A 1% fee applies, subject to change via announcement.
5. Price Limits
- Initial Limits: ±15% of the 1-hour midpoint average.
Last 60 Minutes: ±5% of the 1-hour midpoint average.
- Midpoint = (Best Bid + Best Ask) / 2, recalculated every minute.
At delivery, trading halts, orders cancel, and positions settle based on the final sampling price. Users with positions > $10,000 may face a 30-minute transfer freeze post-delivery. Historical orders remain accessible for download.
Risk Management Advisory
Pre-market prices lack absolute fair value and may exhibit high volatility. Exercise independent judgment and:
- Lower leverage ratios.
- Close positions early if necessary.
- Monitor margin levels to avoid liquidation.
Note: Losses from underfunded liquidations are first covered by the Insurance Fund, then by Auto-Deleveraging (ADL) from profitable traders.
FAQ
Q1: Why was the DOGS delivery schedule changed?
A1: The adjustment aligns with the project’s updated token issuance timeline.
Q2: Can I deposit DOGS before August 14?
A2: No. Deposits will only process after the designated opening time.
Q3: How is the delivery price calculated?
A3: It’s the mean of index prices sampled every 200ms in the hour before delivery.
Q4: What happens to open orders during delivery?
A4: All orders cancel automatically at settlement.
OKX reminds you: Digital assets are volatile and high-risk. Assess your risk tolerance and invest prudently.
We remain committed to enhancing your trading experience!
OKX Team
August 21, 2024