The cryptocurrency exchange OKX has announced upcoming changes to its trading offerings involving the SingularityNET (AGIX) token. In alignment with SingularityNET’s official migration requirements, OKX will delist both the AGIX/USDT perpetual futures and margin trading pairs. This move affects traders currently holding positions or utilizing leverage on these instruments, and users are advised to take necessary actions before the specified deadlines.
These adjustments reflect OKX’s ongoing commitment to maintaining a secure, compliant, and risk-managed trading environment—especially during major token migrations. Below is a detailed breakdown of what’s changing, when it will happen, and how traders should respond.
Perpetual Futures Delisting Schedule
OKX will officially delist the AGIXUSDT perpetual futures contract on June 28, 2024, between 8:00 and 9:00 UTC. After this window, all related trading functionality will be terminated.
Key Details:
- All open orders in the order book will be automatically canceled at delisting.
- Open positions will be delivered at the arithmetic average price of the OKX index over the one hour preceding delisting.
- If the index shows abnormal pricing behavior during that final hour, OKX reserves the right to adjust the delivery price to a fair and reasonable level.
- The funding rate at 8:00 AM UTC on the day of delisting will be set to 0%, meaning no funding fees will be charged for that cycle.
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Risk Management Recommendations
Markets often experience increased volatility ahead of delistings. To protect your capital:
- Consider reducing leverage or closing positions early.
- Avoid entering new trades close to the deadline.
Additionally, users holding perpetual futures positions valued at over $10,000 USD at delivery time will face a 30-minute withdrawal restriction immediately following delisting. Asset transfers will resume normally after this brief hold period.
All trade histories and billing records will remain accessible post-delisting via the Report Center on the OKX website, allowing users to download and archive their transaction data as needed.
Adjustments to Risk Control Parameters
To ensure smooth and fair settlement during the transition, OKX is temporarily modifying its price limit mechanisms for the AGIXUSDT perpetual contract.
Price Limit Rule Overview
Price limits prevent excessive slippage and manipulation by capping how high or low a trade can execute relative to the index price. The rules are adjusted in two phases:
| Time Before Delivery | X (%) | Y (%) | Z (%) |
|---|---|---|---|
| 48 hours | 2 | 2 | 5 |
| 30 minutes | 1 | 1 | 2 |
Explanation:
For the first 10 minutes after contract creation:
- Max Price = Index × (1 + X)
- Min Price = Index × (1 – X)
After 10 minutes:
- More complex formulas apply using Y and Z values along with average premium calculations.
As delivery approaches, tighter bands (lower X, Y, Z) reduce volatility risk. OKX may further adjust these limits if market conditions warrant.
Margin Trading Pair Discontinuation
In addition to futures, OKX is also phasing out margin support for AGIX.
Delisting Timeline
| Trading Pair | Borrowing Suspended | Full Delisting |
|---|---|---|
| AGIX/USDT | June 26, 2024, 8:00 AM UTC | June 27, 2024, 9:00 AM UTC |
During the delisting window:
- Margin trading and flexible loans for AGIX/USDT will be suspended.
- Any open margin orders will be canceled.
- The process will take approximately one hour per pair.
Important User Actions Required
Users with active borrows or collateral in AGIX within cross-margin or flexible loan accounts must:
- Repay borrowed amounts before the delisting time.
- Withdraw or reassign collateral accordingly.
Failure to repay by the deadline will trigger forced repayment, which may result in liquidation or penalties.
⚠️ Note: Price swings are expected. To avoid unexpected losses due to forced liquidation, OKX strongly recommends closing all AGIX-related leveraged positions in advance.
Discount Rate Adjustment for AGIX
With the delisting, OKX is also updating the discount rate applied to AGIX when used as collateral in multi-currency cross-margin accounts.
New Discount Policy
| Asset | Tier (USD) | Old Discount Rate (%) | New Discount Rate (%) |
|---|---|---|---|
| AGIX | 0–50,000 | 0.5 | 0 |
| >50,000 | — | 0 |
Now, AGIX will have a 0% discount rate across all tiers, meaning its full USD value will no longer count toward margin eligibility. This change increases risk buffers given reduced liquidity expectations post-migration.
Why discount rates matter: In cross-margin trading, different cryptocurrencies contribute differently to your total margin based on their liquidity and stability. Less liquid assets receive lower discount rates to mitigate systemic risk during downturns.
Frequently Asked Questions (FAQ)
Q1: Why is OKX delisting AGIX perpetual and margin products?
OKX is complying with SingularityNET’s official token migration requirements, which necessitate platform-level adjustments to ensure network consistency and user safety during the upgrade.
Q2: What happens to my open AGIX futures positions?
Your positions will be automatically settled at the average index price one hour before delisting. No action is needed after that point, but you should monitor your account during the 30-minute post-delivery withdrawal freeze.
Q3: Can I still trade AGIX spot after delisting?
Yes. This notice only affects margin trading and perpetual futures. Spot trading availability depends on future announcements and is not currently impacted.
Q4: How do I back up my trading history?
Go to the Report Center on the OKX website and download your order history, billing records, and transaction logs before or after delisting—data remains accessible.
Q5: Will AGIX return to futures or margin trading in the future?
There are no current plans for relisting. Any future decisions will depend on market demand, project developments, and compliance assessments.
Q6: What should I do if I have outstanding loans in AGIX?
Repay all borrowed funds before June 27, 2024, at 9:00 AM UTC. Unpaid balances will trigger forced repayment mechanisms that could lead to asset liquidation.
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Final Notes for Traders
The delisting of AGIX from margin and perpetual markets marks a routine but important adjustment driven by ecosystem evolution. While such changes can create short-term uncertainty, they ultimately support long-term platform integrity and user protection.
Traders are encouraged to:
- Review open positions and loan obligations.
- Adjust leverage and risk exposure proactively.
- Use OKX’s built-in analytics and reporting tools to stay informed.
By acting early and staying informed, you can navigate this transition smoothly and continue building resilient trading strategies in dynamic markets.
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