The cryptocurrency exchange OKX has announced the upcoming delisting of the AGIX/USDT margin trading pair and AGIXUSDT perpetual futures. This move, aligned with SingularityNET’s official migration requirements, marks a significant adjustment for traders holding positions in these instruments. The delisting process will occur in stages between June 26 and June 28, 2024, with clear timelines and risk management protocols in place.
This article provides a comprehensive overview of the delisting schedule, risk parameters, user recommendations, and platform adjustments — all designed to help traders navigate this transition smoothly while minimizing exposure to market volatility.
Delisting Schedule and Key Deadlines
To ensure an orderly wind-down of AGIX-related derivatives and margin products, OKX has structured the delisting into two distinct phases:
1. Perpetual Futures Delisting
- Trading Pair: AGIXUSDT
- Delisting Window: June 28, 2024, from 8:00 to 9:00 UTC
During this one-hour window, all open positions will be automatically settled. Trading will cease, and the order book will be cleared. Settlement will be based on the arithmetic average of the OKX index price over the hour preceding delisting.
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2. Margin Trading Pair Suspension
- Trading Pair: AGIX/USDT
- Borrowing Function Disabled: June 26, 2024, at 8:00 UTC
- Full Delisting Time: June 27, 2024, at 9:00 UTC
After the borrowing suspension, users will no longer be able to open new leveraged positions or borrow AGIX or USDT against this pair. All pending margin orders will be canceled at delisting time. Users holding borrowed assets must repay their debt before the deadline to avoid forced liquidation.
Settlement Mechanism for Perpetual Futures
Following delisting, OKX will settle all remaining AGIXUSDT perpetual futures positions using the average index price from the final hour of trading. This method promotes fairness and reduces manipulation risk during the closure phase.
However, in cases where index prices exhibit abnormal fluctuations — such as sudden spikes or gaps due to low liquidity — OKX reserves the right to adjust the final settlement price to a more reasonable level. This safeguard protects both users and the platform from extreme market distortions during a critical transition period.
Risk Management Measures and User Guidance
Given the potential for heightened volatility around delisting events, OKX has implemented enhanced risk controls to maintain market integrity and protect user assets.
Position Size and Transfer Restrictions
Users with open positions valued above $10,000 will face a 30-minute transfer freeze immediately after settlement. This temporary restriction helps prevent rapid capital movements that could destabilize post-delisting pricing. After this brief hold, normal withdrawal and transfer functions will resume.
Adjusted Price Band Limits
To curb excessive price swings ahead of delisting, OKX has tightened its price monitoring parameters:
48 Hours Before Delisting:
- Maximum price deviation: 2%
- Minimum price deviation: 2%
- Z-score threshold: 5%
Final 30 Minutes Before Delisting:
- Maximum price deviation: 1%
- Minimum price deviation: 1%
- Z-score threshold: 2%
These dynamic limits reduce slippage and help ensure accurate index-based settlement by discouraging manipulative trades near expiration.
Margin Trading Adjustments and Borrowing Rules
With the removal of the AGIX/USDT margin pair, several operational changes affect active margin traders:
- Flexible lending and borrowing for AGIX and USDT via this pair will be disabled starting June 26.
- All unfilled margin orders will be canceled automatically at delisting time.
- Users who have used AGIX as collateral or borrowed against it must repay outstanding balances before June 27 at 9:00 UTC to avoid forced repayment actions.
Failure to meet these obligations may result in automatic liquidation of collateral at unfavorable rates, especially in volatile conditions.
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Discount Rate Changes for AGIX
In tandem with the delisting, OKX has updated the discount rate structure for AGIX within its lending markets:
| Tier | Before Adjustment | After Adjustment |
|---|---|---|
| $0 – $50,000 | 0.5% discount | 0% discount |
| Above $50,000 | 0% discount | 0% discount |
Now, all tiers receive zero discount, reflecting reduced liquidity and increased risk associated with AGIX as it approaches delisting. This change discourages large-scale leveraged borrowing and aligns incentives with market stability goals.
This adjustment is part of a broader strategy to balance risk across currency markets where liquidity variance can significantly impact platform-wide exposure.
Why Is OKX Delisting AGIX Pairs?
The decision stems directly from SingularityNET’s formal migration requirements. As part of its ecosystem evolution, SingularityNET is undergoing technical or structural upgrades that necessitate partner exchanges like OKX to temporarily or permanently suspend certain token-related services.
While specific details about the migration have not been fully disclosed, such actions are common when blockchain projects transition to new consensus mechanisms, launch upgraded tokens, or restructure smart contract architectures. Exchanges comply to maintain alignment with project roadmaps and ensure long-term compatibility.
Frequently Asked Questions (FAQ)
Q: What happens to my open AGIXUSDT perpetual futures position after delisting?
A: All open positions will be settled automatically using the average index price from the hour before delisting. You do not need to act manually, but it's advisable to close your position early to avoid execution uncertainty.
Q: Can I still trade AGIX spot pairs after the delisting?
A: Yes. This announcement only affects margin trading and perpetual futures. Spot trading for AGIX may continue unless separately announced.
Q: Will I lose my funds if I don’t close my position in time?
A: No. Your funds will be settled and credited based on the official settlement price. However, unexpected price movements or forced liquidations could impact profitability.
Q: Why did OKX remove the borrowing function early?
A: Early suspension prevents new leveraged exposure just before delisting, reducing systemic risk and ensuring a smoother exit for all users.
Q: How can I check my current AGIX holdings and liabilities?
A: Log into your OKX account and visit the Assets or Margin Account section to review balances, loans, and active orders.
Q: Is there a chance AGIX derivatives will return in the future?
A: Possible, but dependent on SingularityNET’s migration outcome and OKX’s subsequent evaluation. Monitor official OKX channels for updates.
Final Steps for Affected Users
To ensure a seamless experience during this transition:
- Review your portfolio for any open AGIX/USDT margin or futures positions.
- Close or reduce leverage ahead of deadlines to manage risk proactively.
- Repay any borrowed amounts before June 27 at 9:00 UTC.
- Download historical data via OKX’s Report Center for record-keeping.
- Monitor official announcements for further developments related to SingularityNET’s migration.
Conclusion
The delisting of AGIX/USDT margin trading and perpetual futures is a strategic step taken by OKX in response to external ecosystem developments. While such changes require user adaptation, they reflect responsible risk management and commitment to regulatory and technical compliance.
By understanding the timeline, settlement rules, and platform adjustments, traders can protect their capital and make informed decisions during this transition period.
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