Please note the adjusted timings listed below. Check for specific details.
We're excited to announce the listing of ME (Magic Eden) for spot trading on OKX. Here are the key details:
Listing Schedule
- ME trading begins: December 6, 2024 at 09:00 WIB (Western Indonesian Time)
- ME trading continues: December 10, 2024 from 20:30 to 21:00 WIB
- ME/USDT spot trading starts: December 10, 2024 at 21:00 WIB
- Additional trading session: December 11, 2024 at 10:00 WIB
Spot Trading Opening Rules
To protect traders from price volatility during market opening, OKX will implement these order restrictions for the first 5 minutes:
- Market orders will be disabled
- Limit order values cannot exceed $10,000 USD per order
These restrictions will be lifted after the initial 5-minute period.
Project Introduction
$ME is committed to supporting MagicEden's cross-chain ecosystem strategy for dApps, focusing on:
- Acquiring users from public blockchains and other infrastructure
- Enabling seamless multi-chain asset trading
Asset Details:
- Name: Magic Eden
- Ticker: ME
- Total Supply: 1,000,000,000
👉 Check current Magic Eden price
Pre-Market Futures Delivery
- Delivery Timing
Contracts will be delivered 32.5 hours after spot market listing, with settlement prices calculated 2-3 hours post-listing. Delivery times adjust with listing changes. Settlement Price
- Index price: Aggregated from ≥3 major exchanges
- Final price: Arithmetic mean of OKX index prices from the hour preceding delivery
- Abnormal price fluctuations may trigger manual adjustments
Important Note: Accounts with >$10,000 in MEUSDT futures positions at delivery will have asset transfers disabled for 30 minutes post-settlement.
Price Limits
After pre-market contract creation:
- Max buy order price = 1-hour average midpoint × 115%
- Min sell order price = 1-hour average midpoint × 85%
60 minutes before delivery:
- Max buy order price = Index price × 105%
- Min sell order price = Index price × 95%
Midpoint = (Highest bid + Lowest ask) / 2, recalculated every minute
Risk Management Tips
- Reduce actual leverage before delivery
- Consider closing positions early during volatility
- Overloss scenarios are covered by insurance funds
- Profitable positions may be automatically reduced if insurance funds are insufficient
👉 Learn advanced risk management strategies
Settlement Fees
- Current rate: 1% (adjustments will be announced)
FAQs
Q: When can I start trading ME on OKX?
A: Spot trading begins December 10, 2024 at 21:00 WIB, with pre-trading sessions starting December 6.
Q: Why are there order restrictions at market open?
A: These protect traders from extreme volatility during initial price discovery.
Q: How is the futures settlement price determined?
A: It's calculated from OKX's index prices during the hour preceding delivery.
Q: What happens if prices fluctuate abnormally before delivery?
A: OKX may manually adjust settlement prices to reasonable levels.
Q: Can I transfer assets immediately after futures settlement?
A: Accounts with >$10,000 positions face 30-minute transfer restrictions post-delivery.
Risk Warning: Digital assets are highly speculative and volatile. OKX doesn't guarantee information accuracy from third parties. Conduct independent research and assess your risk tolerance before trading.
For further assistance, contact OKX support through official channels.
*OKX Team
December 6, 2024*