OKX will deliver futures pre-market for the MAJOR token on November 28, 2024, at 22:00 (Vietnam Time). Below are the key details:
1. Delivery Price
- Index Price Calculation: OKX will derive the index price from more than three major exchanges.
- Delivery Price: Positions will be settled based on the arithmetic mean of the OKX index price recorded one hour before delivery. If abnormal price fluctuations occur during this period, OKX may adjust the final delivery price to a reasonable level.
For the first 30 minutes post-delivery, users holding positions exceeding $10,000 USD (based on MAJORUSDT futures contract value at delivery time) will face temporary withdrawal restrictions.
Fund transfers will resume after 30 minutes. Order history and settlement records remain accessible post-delivery. Users may download backup data via the OKX website’s Order Center.
Risk Notice: Due to potential market volatility before delivery, manage risks by reducing leverage or closing positions early. Losses exceeding equity during settlement will be covered by the insurance fund. If the fund is insufficient, the system will auto-reduce positions of highly profitable users.
2. Settlement Fee
A 1% fee applies, subject to change via official notice.
3. Price Limits
- Maximum Buy Order Price = 1-hour average price × (1 + 15%)
- Minimum Sell Order Price = 1-hour average price × (1 – 15%)
60 minutes pre-delivery:
- Max Buy Price = Index Price × (1 + 5%)
- Min Sell Price = Index Price × (1 – 5%)
- Average Price = (Best Bid + Best Ask) / 2 (recalculated per minute).
Risk Disclosure
The information provided, including third-party content, is for educational purposes only. OKX does not guarantee accuracy or completeness. This material is not financial advice nor an offer to buy/sell. Digital assets are volatile and speculative; investors may lose their entire investment. Conduct independent research and assess risk tolerance before trading.
👉 Explore OKX’s Risk Compliance
For inquiries, contact:
👉 OKX Support Center
FAQ
Q1: What happens if I hold a position >$10,000 at delivery?
A1: Withdrawals are restricted for 30 minutes post-delivery.
Q2: How is the delivery price calculated?
A2: Based on the average OKX index price one hour pre-delivery.
Q3: Are settlement fees refundable?
A3: No, fees are non-refundable.
Q4: Can price limits change pre-delivery?
A4: Yes, limits tighten to ±5% 60 minutes before delivery.
Q5: What if the insurance fund is insufficient?
A5: The system auto-reduces positions of profitable users.
Q6: Where can I download my trade history?
A6: Via the Order Center on OKX’s website.
OKX Team
November 22, 2024
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