The cryptocurrency trading platform OKX has announced upcoming changes to its product 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 update affects traders using leveraged positions, margin accounts, and flexible loans tied to AGIX. Below is a detailed breakdown of the delisting schedule, risk management adjustments, and key actions users must take.
Perpetual Futures Delisting Schedule
OKX will officially remove the AGIXUSDT perpetual futures contract from trading on June 28, 2024, between 8:00 and 9:00 AM UTC. After this window, the contract will no longer be available for trading, and all open orders in the order book will be automatically canceled.
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Position Delivery and Pricing Mechanism
All open AGIXUSDT perpetual futures positions will be settled at the arithmetic average price of the OKX index calculated over the hour preceding delisting. This ensures a fair and transparent settlement process based on real-time market data.
In cases where the index price shows abnormal behavior during the final hour, OKX reserves the right to adjust the final delivery price to a reasonable level to maintain market integrity.
Additionally:
- The funding rate at 8:00 AM UTC on the delisting day will be set to 0%, meaning no funding fees will be charged during that cycle.
- Traders are advised to monitor market volatility, which often increases near delisting times. To reduce exposure, consider lowering leverage or closing positions early.
Post-Delisting Withdrawal Restrictions
For risk control purposes:
- Users holding positions valued at over $10,000 at the time of delivery will face a 30-minute restriction on transferring assets out of their trading accounts immediately after delisting.
- Normal withdrawal functionality will resume after this period.
- Order history and billing records will remain accessible via the Report Center on the OKX website. Users are encouraged to download any necessary transaction data before or shortly after delisting.
Risk Control Parameter Adjustments
To ensure smooth settlement and prevent excessive volatility, OKX is implementing temporary changes to its price limit rules for the AGIXUSDT perpetual contract in the final 48 hours before delisting.
Updated Price Limit Rules
The price limits are dynamically calculated based on the underlying index and recent premium averages. Here’s how they’ll be adjusted:
Standard Calculation Formula:
Within first 10 minutes of contract generation:
- Highest price limit = Index × (1 + X)
- Lowest price limit = Index × (1 – X)
After 10 minutes:
- Highest price limit = Min[Max(Index, Index × (1 + Y) + Avg premium), Index × (1 + Z)]
- Lowest price limit = Max[Min(Index, Index × (1 – Y) + Avg premium), Index × (1 – Z)]
Adjusted Parameters:
| Time Before Delivery | X | Y | Z |
|---|---|---|---|
| 48 hours | 2% | 2% | 5% |
| 30 minutes | 1% | 1% | 2% |
Note: If significant deviations occur between contract and index prices, OKX may further adjust limits based on real-time market conditions.
These tighter bounds help minimize manipulation risks and promote orderly trading as the contract approaches termination.
Margin Trading Pair Delisting
In addition to futures, OKX will also delist AGIX-related 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 |
Key Impacts:
- The borrowing feature for AGIX/USDT will be disabled starting June 26.
- Full delisting and suspension of margin trading and flexible loans will occur on June 27.
- The process will take approximately one hour to complete per pair.
- All open margin orders will be canceled upon delisting.
Users with outstanding loans or collateral in AGIX must:
- Repay borrowed funds before the delisting deadline.
- Withdraw or reallocate collateral to avoid forced liquidation.
Failure to repay by the deadline will trigger an automatic forced repayment mechanism, potentially resulting in losses due to unfavorable market execution.
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Changes to Discount Rate for AGIX
As part of broader risk management policies, OKX is adjusting the discount rate applied to AGIX when used as collateral in multi-currency cross-margin accounts.
Updated Discount Structure:
| Asset | Tier (USD) | Old Discount Rate | New Discount Rate |
|---|---|---|---|
| AGIX | 0–50,000 | 0.5 | 0 |
| >50,000 | 0 | 0 |
This means AGIX will no longer provide any discount value when calculating usable margin in cross-margin mode. The change reflects reduced liquidity expectations post-migration and strengthens platform-wide risk controls.
Why discount rates matter: In cross-margin trading, different cryptocurrencies are converted into USD equivalents for margin use. Due to varying liquidity levels, platforms apply discount rates to mitigate volatility risk. A lower discount rate reduces the effective collateral value.
Frequently Asked Questions (FAQ)
Q: Why is OKX delisting AGIX perpetual and margin pairs?
A: The delisting follows SingularityNET’s official token migration requirements. To maintain compliance and system stability, OKX is removing affected trading pairs.
Q: What happens to my open AGIX futures positions?
A: All open positions will be automatically settled at the average index price one hour before delisting. No funding fee will be charged on the final cycle.
Q: Can I still withdraw funds after delisting?
A: Yes — but users with large positions ($10,000+) will face a temporary 30-minute withdrawal freeze post-delivery for risk management.
Q: Do I need to close my margin position manually?
A: Yes. You should repay loans and close positions before the delisting time. Otherwise, a forced repayment may occur, possibly at a disadvantageous price.
Q: How can I back up my trade history?
A: Go to the Report Center on OKX’s website to download your order history, billing records, and transaction logs at any time.
Q: Will AGIX spot trading also be affected?
A: This announcement only covers perpetual futures and margin trading. Spot trading for AGIX may continue unless separately announced.
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Final Notes
Traders holding AGIX in leveraged products should act promptly:
- Close or reduce high-risk positions.
- Repay margin loans ahead of deadlines.
- Download essential data for personal records.
- Monitor official OKX announcements for further updates.
By proactively managing exposure, users can navigate these changes smoothly and maintain control over their digital asset strategies.
Core Keywords: AGIX delisting, OKX futures, margin trading, perpetual contracts, crypto risk management, SingularityNET migration, leverage adjustment, discount rate change