As part of its ongoing commitment to risk management and user protection, OKX has announced the upcoming delisting of several leveraged trading pairs. This strategic move aims to enhance platform stability, ensure a secure trading environment, and align with evolving market conditions. Users are advised to take necessary actions before the specified deadlines to avoid forced liquidations or unexpected losses.
This article provides a comprehensive overview of the affected trading pairs, timeline details, implications for active positions and borrowing, and critical steps traders should take. We also explain the recent adjustments to collateral discount rates and how these changes may impact your margin requirements.
Affected Leveraged Trading Pairs and Timeline
OKX will be phasing out support for multiple leveraged trading pairs in mid-June 2025. The following table outlines the exact schedule:
- BSV/USDT
- BSV/BTC
- LUNC/USDT
- BAND/USDT
For the above pairs:
- Borrowing suspension: June 6, 2025, at 5:30 PM (UTC+8)
- Delisting window: June 11, 2025, between 2:00 PM and 6:00 PM (UTC+8)
Additionally, the following pairs will be delisted one day later:
- CELR/USDT
- MOVR/USDT
- SWEAT/USDT
For these:
- Borrowing suspension: June 6, 2025, at 5:30 PM (UTC+8)
- Delisting window: June 12, 2025, between 2:00 PM and 6:00 PM (UTC+8)
During the delisting period—lasting approximately two hours per pair—OKX will disable leveraged trading and flexible lending services for the affected assets. All open market orders will be automatically canceled by the system.
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What This Means for Active Traders
If you currently hold leveraged positions or have borrowed any of the listed cryptocurrencies, immediate action is required. You must repay all borrowed funds before the respective delisting time. Failure to do so will trigger an automatic forced repayment by the system.
Forced repayments occur at market prices, which can lead to significant losses—especially during periods of high volatility. Therefore, OKX strongly advises users to manually close their positions and return borrowed assets ahead of the deadline.
Moreover, traders should monitor their portfolio closely as price fluctuations near the delisting window could increase liquidation risks. Proactively managing exposure helps maintain control over your trading outcomes.
Understanding Collateral Discount Rate Adjustments
In addition to pair delistings, OKX is adjusting the collateral discount rates for certain cryptocurrencies within cross-margin accounts. This change affects how much value different digital assets contribute when used as margin.
What Is a Collateral Discount Rate?
In a cross-margin account, various cryptocurrencies can be combined and converted into USD value to serve as collateral. However, due to differences in liquidity, volatility, and market depth, not all coins are treated equally.
To mitigate risk, OKX applies a discount rate—a percentage reduction—to the nominal value of each asset when calculating usable margin. For example, if BTC has a 90% discount rate, only 90% of its market value counts toward your margin balance.
Why Are Rates Being Adjusted?
Due to recent market instability and as part of the gradual phase-out process for certain tokens, OKX will progressively reduce the discount rates of affected assets down to 0%. Once an asset reaches a 0% discount rate, it will no longer contribute any value as collateral.
This adjustment directly impacts traders who use these coins as margin. As the effective collateral decreases, your maintenance margin ratio increases, raising the likelihood of liquidation if positions aren't adjusted accordingly.
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Risk Management Recommendations
To avoid unintended consequences from these updates, OKX recommends the following actions:
- Repay Borrowed Assets Early
Ensure all loans in BSV, LUNC, BAND, CELR, MOVR, SWEAT, or related pairs are repaid before their respective deadlines. - Close Open Leveraged Positions
Manually exit trades before the delisting window to retain full control over execution prices. - Monitor Collateral Value
If using any of the affected coins as margin, assess how reduced discount rates impact your overall margin health. - Add Additional Margin or Reduce Exposure
To counteract rising maintenance requirements, consider depositing more stable collateral (e.g., USDT or BTC) or reducing position size. - Stay Informed
Regularly check official announcements for future updates on supported trading pairs and margin policies.
Frequently Asked Questions (FAQ)
Q: Why is OKX delisting these specific leveraged pairs?
A: These decisions are based on factors like declining trading volume, reduced market liquidity, and overall risk profile. Delisting underperforming or high-risk pairs helps maintain platform integrity and user safety.
Q: What happens if I don’t repay my borrowed funds before delisting?
A: The system will initiate a forced repayment using your available balance or by selling other assets in your account. This may result in unfavorable rates and unexpected losses.
Q: Can I still trade these coins in spot markets after delisting?
A: This announcement only affects leveraged trading and flexible lending. Spot trading availability will be communicated separately if changes occur.
Q: How does lowering the discount rate to 0% affect my position?
A: When a coin’s discount rate hits 0%, it no longer contributes to your margin balance. This reduces your total collateral, increases leverage on remaining positions, and raises liquidation risk.
Q: Will I be notified again before the delisting?
A: While OKX may send reminders via email or in-app alerts, users are responsible for staying informed through official channels. Relying solely on notifications is not recommended.
Q: Are more pairs likely to be delisted in the future?
A: Yes. OKX regularly reviews its product offerings and may delist other low-liquidity or high-risk pairs to optimize performance and security.
Final Thoughts
Market dynamics in the cryptocurrency space evolve rapidly. Platforms like OKX must adapt by refining their product suite and enforcing prudent risk controls. While changes such as leveraged pair delistings and collateral adjustments may require short-term adjustments from users, they ultimately contribute to a safer, more sustainable trading ecosystem.
Staying proactive—by monitoring announcements, managing borrowings responsibly, and understanding margin mechanics—is essential for long-term success in digital asset trading.
By following best practices and leveraging reliable platforms, traders can navigate transitions smoothly and continue building resilient portfolios in any market condition.
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