Dear OKX Users,
OKX is excited to announce the upcoming listing of ME (Magic Eden), with the following schedule:
Listing Timeline
- ME Deposits Open: December 6, 2024, 10:00 AM (UTC+8)
- ME Pre-Market Trading Window: December 10, 2024, 9:30 PM – 10:00 PM (UTC+8)
- ME/USDT Spot Trading Goes Live: December 10, 2024, 10:00 PM (UTC+8)
- ME Withdrawals Open: December 11, 2024, 11:00 AM (UTC+8)
👉 Deposit USDT now to prepare for ME trading
Spot Trading Risk Control Rules
To protect investors from extreme volatility during new token listings, OKX imposes the following restrictions for the first 5 minutes of spot trading:
- Market orders are disabled.
- Limit orders are capped at $10,000 per transaction.
These limits lift automatically after 5 minutes.
About Call Auctions
The ME/USDT spot pair will debut with a 1-hour call auction. OKX’s auction mechanism allows users to place orders at desired prices before live trading begins. The system calculates a reference opening price based on aggregated orders.
Note: The project team’s suggested opening price (based on valuation) serves as the initial reference but does not override user-submitted orders.
Project Overview: Magic Eden (ME)
ME powers Magic Eden’s cross-chain ecosystem super DApp strategy, enabling seamless multi-chain asset management via its mobile wallet.
- Full Name: Magic Eden
- Symbol: ME
- Total Supply: 1,000,000,000
Key Features:
- Aggregates users from diverse blockchain ecosystems.
- Streamlines cross-chain transactions within a unified interface.
ME Pre-Market Contract Details
1. Settlement Time
Contracts settle 2.5 hours after spot listing. Prices are calculated 2–3 hours post-listing. Adjustments follow any changes to the spot launch timeline.
2. Settlement Price
- Index Price: Weighted average from 3+ major exchanges.
- Final Price: 1-hour arithmetic mean of OKX’s index before settlement.
👉 Track ME’s real-time index here
Note: Users with positions >$10,000 at settlement face a 30-minute transfer freeze.
3. Settlement Fee
- 1% fee (subject to change; updates announced separately).
4. Price Limits
- Pre-settlement: Orders must stay within ±15% of the 1-hour midpoint.
- Final 60 minutes: Tightens to ±5%.
Risk Reminder
Cryptocurrencies are volatile and high-risk. Assess your investment capacity carefully before participating.
FAQs
Q1: When can I withdraw ME after trading starts?
A: Withdrawals open on December 11, 2024, 11:00 AM (UTC+8).
Q2: Why are market orders restricted initially?
A: To prevent slippage during high volatility.
Q3: How is the settlement price determined?
A: By averaging OKX’s index over the hour before settlement.
Q4: What happens if spot listing is delayed?
A: Contract settlement adjusts accordingly. Monitor announcements.
Ready to Trade? Deposit USDT now to secure your position!
OKX is committed to delivering exceptional products and services.
OKX Team
December 3, 2024