OKX, a leading cryptocurrency exchange, has announced the delisting of Fetch.ai (FET) margin trading pairs and perpetual contracts in alignment with Fetch.ai's official migration requirements. This decision reflects the exchange's commitment to maintaining a secure and compliant trading environment.
Delisting Details
The delisting will impact the following instruments:
- FET/USDT Margin Trading Pair
- FETUSDT Perpetual Contract
Key Dates and Procedures
- Perpetual Contract Trading Halt: July 5, 2024 (8:00–9:00 AM UTC)
- Order Book Clearance: All open orders will be canceled post-delisting.
- Position Settlement: Contracts will be settled based on the arithmetic average of the OKX Index price one hour before delisting. Adjustments may be made for abnormal price fluctuations.
Funding Rate Adjustment:
The final funding rate (8:00 AM UTC on delisting day) will be set to 0, exempting users from funding charges during this period.
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Risk Management Recommendations
To mitigate risks during volatile market conditions, OKX advises users to:
- Reduce leverage or close positions proactively.
- Note withdrawal restrictions: Accounts with positions exceeding $10,000 USD will face temporary withdrawal holds (lifted 30 minutes post-delisting).
Margin Trading Phase-Out Schedule
- June 27, 2024 (7:00 AM UTC): FET/USDT borrowing disabled.
- July 4, 2024 (7:00 AM UTC): Complete delisting of FET/USDT margin pairs.
Critical Reminder: Users with outstanding loans or collateral must repay before delisting to avoid forced liquidation.
Discount Rate Adjustments
OKX will apply revised discount rates to FET holdings:
| Asset Value (USD) | Discount Rate |
|-------------------|--------------|
| 0–50,000 | 0.5 |
| >50,000 | 0 |
Cross-margin accounts will convert holdings to USD equivalents before applying these rates.
FAQ Section
Why is OKX delisting FET instruments?
The decision aligns with Fetch.ai’s migration requirements and ensures regulatory compliance.
What happens to my active FET perpetual contracts?
Positions will be automatically settled at the index-based price before delisting.
Can I trade FET after July 5?
No. The perpetual contract and margin pair will no longer be available on OKX post-delisting.
How does the discount rate adjustment affect me?
It reduces the borrowing power of FET holdings in margin accounts, particularly for assets above $50,000 USD.
👉 Explore OKX’s official announcement for further details
Disclaimer: Cryptocurrency trading involves substantial risk. Price volatility may lead to significant losses. Users should exercise caution and conduct independent research.