Dear OKX Users,
To support the growth of the USDC ecosystem and meet diverse trading needs, OKX is expanding its USDC trading zone with two new trading pairs: MEMEFI/USDC and MAJOR/USDC. Below are the detailed schedules:
Trading Pair Launch Timelines
1. MEMEFI/USDC
- Trading Window: November 22, 2024, 8:30 PM – 9:30 PM (UTC+8)
- Spot Trading Start Time: November 22, 2024, 9:30 PM (UTC+8)
2. MAJOR/USDC
- Trading Window: November 28, 2024, 7:30 PM – 8:30 PM (UTC+8)
- Spot Trading Start Time: November 28, 2024, 8:30 PM (UTC+8)
Spot Trading Risk Control Rules
To mitigate volatility risks during new token launches, OKX implements the following trading restrictions for the first 5 minutes after spot trading begins:
- Market Orders Disabled: Only limit orders are accepted.
- Order Size Limit: Maximum of $10,000 per limit order.
These restrictions auto-lift after 5 minutes.
About the Call Auction Mechanism
Both MEMEFI/USDC and MAJOR/USDC will debut with a 1-hour call auction phase.
How It Works:
- Submit orders at your desired price before trading officially starts.
- The system aggregates all orders to calculate a reference opening price.
After the auction, the project team’s suggested opening price (based on valuation) becomes the initial trading price.
- Note: This price is for reference only and does not override user-submitted order prices.
👉 Learn more about OKX’s trading mechanisms
FAQs
Q1: Can I cancel orders during the call auction?
A: Yes, orders can be modified or canceled before the auction ends.
Q2: Why are market orders restricted initially?
A: To prevent extreme price swings and protect traders from sudden volatility.
Q3: How is the final opening price determined?
A: It combines the call auction’s reference price and the project team’s suggested price for market stability.
Q4: Are there deposit/withdrawal limits for these tokens?
A: Standard limits apply. Check OKX’s official announcements for updates.
Risk Reminder
Digital assets are high-risk investments with significant price fluctuations. Assess your risk tolerance and invest wisely.
OKX is committed to delivering exceptional products and services.
👉 Explore more trading opportunities on OKX
OKX Team
November 21, 2024
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