To enhance user experience and optimize liquidity, OKX will delist TORN cryptocurrency pairs from multiple trading platforms. This decision aligns with the OKX Token Delisting/Hiding Guideline and incorporates community feedback. Below are the detailed timelines and procedures:
1. Spot Trading Delisting
Effective Date: September 27, 2022, at 10:00 AM UTC
- All TORN spot trading pairs will be removed.
- Pending orders will be automatically canceled.
2. Margin Trading Adjustments
Key Dates:
- September 21, 2022 (9:00 AM UTC): TORN borrowing feature disabled.
September 27, 2022 (2:00 AM UTC):
- Margin trading for TORN pairs ceases.
- All open orders canceled.
- Forced repayment triggered for outstanding borrowings.
👉 Pro Tip: Due to potential price volatility, close TORN positions early to avoid losses from forced liquidation.
3. Perpetual Contracts Delisting
Delisting Time: September 26, 2022, at 8:00 AM UTC
- TORNUSDT perpetual swaps will be delisted.
- Positions will settle at the arithmetic average of OKX’s index price one hour before delisting.
Risk Control Measures:
- Funding rates set to 0% at delisting.
- Leverage restrictions apply 30 minutes post-delisting for positions >$10,000.
Adjusted Price Limits:
| Timeframe | X (Initial) | Y (Post-10min) | Z (Max Deviation) |
|-----------|------------|----------------|-------------------|
| 48h pre-delisting | 2% | 2% | 5% |
| 30m pre-delisting | 1% | 1% | 2% |
4. Savings Product Updates
- TORN savings subscriptions suspended post-borrowing closure.
- Automatic redemption to users’ funding accounts upon margin trading shutdown.
FAQs
Why is OKX delisting TORN?
OKX periodically reviews assets to ensure liquidity and compliance with platform guidelines. TORN’s delisting follows user feedback and risk assessments.
What happens to my open TORN perpetual contracts?
Contracts will auto-settle at the index price one hour before delisting. Monitor leverage to avoid transfer restrictions.
Can I withdraw TORN after delisting?
Yes, but trading and new orders will be disabled. Redeemed savings assets will move to your funding account.
👉 For further assistance, visit OKX Support or join the OKX Telegram community.
Last Updated: September 21, 2022 (UTC)
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