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 perpetual futures and margin trading pairs. These adjustments are part of broader risk management and platform optimization efforts, ensuring a secure and efficient trading environment for users.
This article outlines the complete timeline, procedural details, and risk mitigation strategies related to the delisting of AGIX trading products on OKX. Whether you're an active trader or holding positions in AGIX, understanding these updates is crucial to managing your portfolio effectively and avoiding unintended liquidations or transfer restrictions.
Perpetual Futures Delisting Schedule
OKX will officially delist the AGIX/USDT perpetual futures contract on June 28, 2024, between 8:00 and 9:00 AM UTC. During this window, all trading activity for this pair will be terminated.
Key points to note:
- All open orders in the order book will be automatically canceled at the time of delisting.
- Open positions will be automatically delivered using the arithmetic average price of the OKX index calculated over the one hour preceding delisting.
- If the index price exhibits abnormal behavior during this period, OKX reserves the right to adjust the final delivery price to a fair and reasonable level.
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Funding Rate Adjustment
On the day of delisting, the funding rate at 8:00 AM UTC will be set to 0%, meaning no funding fees will be charged during that cycle. This adjustment prevents unexpected costs for traders holding positions up to the final moments.
Post-Delisting Transfer Restrictions
To maintain platform stability during the transition:
- Users holding positions valued at over $10,000 USD at the time of delivery will face a 30-minute restriction on asset withdrawals from their trading accounts.
- After this brief holding period, withdrawal functionality will resume normally.
All order history and billing records will remain accessible post-delisting. Users are encouraged to download relevant data via the Report Center on the OKX website before or after the event for personal record-keeping.
Risk Control Parameter Updates
To ensure smooth delivery and minimize market manipulation risks, OKX has implemented temporary adjustments to its price limit rules in the final hours before delisting.
Price Limit Rule Adjustments
Price limits are calculated based on the underlying index and predefined thresholds (X, Y, Z). The updated parameters are as follows:
48 hours before delivery:
- X = 2%
- Y = 2%
- Z = 5%
30 minutes before delivery:
- X = 1%
- Y = 1%
- Z = 2%
These tighter limits help prevent extreme volatility and slippage during the final trading phase. Should abnormal price deviations occur, OKX may further adjust limits based on real-time market conditions.
Margin Trading Pair Suspension
In addition to futures, OKX will also delist AGIX from its margin trading services.
| Trading Pair | Cease Borrowing | Delisting Time |
|---|---|---|
| AGIX/USDT | June 26, 2024, 8:00 AM UTC | June 27, 2024, 9:00 AM UTC |
During this transition:
- The ability to borrow AGIX or use it as collateral in cross-margin or flexible loan accounts will be suspended.
- All open margin orders will be canceled.
- The process will take approximately one hour per trading pair.
Users with outstanding loans or collateral must repay debts and withdraw assets before the delisting time. Failure to do so may trigger forced repayment, potentially resulting in losses due to market volatility.
Discount Rate Adjustment for AGIX
As part of risk management in multi-currency cross-margin accounts, OKX applies discount rates to assess the effective value of different cryptocurrencies when used as margin. With the delisting of AGIX, its discount rate has been adjusted:
| Tier (USD Value) | Previous Discount Rate | New Discount Rate |
|---|---|---|
| $0 – $50,000 | 50% | 0% |
| Over $50,000 | 0% | 0% |
This means AGIX will no longer provide margin value in cross-margin accounts. Traders relying on AGIX as collateral should rebalance their portfolios accordingly to avoid margin calls.
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Frequently Asked Questions
Q: Why is OKX delisting AGIX perpetual futures and margin pairs?
A: The delisting follows SingularityNET’s official migration requirements. OKX complies with project-led changes to maintain ecosystem integrity and user security.
Q: What happens to my open AGIX/USDT perpetual position after delisting?
A: All open positions will be automatically settled at the average index price one hour before delisting. No manual action is required, but monitoring is advised.
Q: Can I still trade AGIX spot pairs after these changes?
A: Yes. This announcement only affects perpetual futures and margin trading. Spot trading for AGIX may continue unless separately announced.
Q: Will I lose money if my position is delivered?
A: Delivery is based on a fair index price. However, due to potential market swings before delisting, holding large positions increases risk. Closing early is recommended.
Q: How do I download my trading history?
A: Log into your OKX account, go to the Report Center, and export your order history and billing records at any time.
Q: What should I do if I have an outstanding AGIX loan?
A: Repay the loan before June 27, 2024, 9:00 AM UTC. Unpaid balances may lead to forced repayment at unfavorable prices.
Final Recommendations
Market conditions can become highly volatile as delisting dates approach. Traders are strongly advised to:
- Reduce leverage on AGIX positions
- Close open trades early
- Repay margin loans promptly
- Backup critical trading data
Staying proactive minimizes exposure to forced liquidations and transfer delays.
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By following OKX’s structured delisting process and adjusting strategies accordingly, traders can navigate this change safely and efficiently. Always monitor official announcements for last-minute updates or adjustments.