In a strategic move to enhance market liquidity and optimize user experience, OKX has announced the upcoming delisting of several WSM-related trading products. This includes both perpetual futures and margin trading pairs involving WSM/USDT. The changes are part of OKX’s ongoing efforts to maintain a high-performance trading environment by streamlining underperforming assets and reducing potential risks for traders.
This article provides a comprehensive overview of the delisting schedule, risk management adjustments, asset withdrawal policies, and essential steps users should take before the official delisting date. Whether you're currently holding WSM positions or using it as collateral, understanding these updates is crucial to safeguarding your investments.
Perpetual Futures Delisting Schedule
OKX will officially delist the WSMUSDT perpetual futures contract on February 6, 2024, during the 8:00–9:00 AM UTC window.
Once delisted:
- All open orders for WSMUSDT futures will be automatically canceled.
- Outstanding positions will be settled at the arithmetic average price of the OKX index calculated one hour prior to delisting.
- If the index price shows abnormal behavior during this pre-delisting hour, OKX reserves the right to adjust the final settlement price to a fair and reasonable level.
Additionally, the funding rate at 8:00 AM UTC on the delisting day will be set to 0%, meaning no funding payments will be charged or received during that cycle.
👉 Stay ahead of market changes with real-time trading tools and insights.
Risk Management: Price Limit Adjustments
To ensure orderly trading and prevent extreme volatility ahead of delisting, OKX has implemented temporary adjustments to its price limit mechanism for the WSMUSDT perpetual futures contract.
How Price Limits Work
Price limits are calculated based on the underlying index and predefined parameters (X, Y, Z), which determine the upper and lower bounds within which trading can occur.
Standard Calculation Rules:
First 10 minutes after contract generation:
- Highest price limit = Index × (1 + X)
- Lowest price limit = Index × (1 – X)
After 10 minutes:
- More complex formulas apply, factoring in average premiums and dynamic caps.
Temporary Adjustments Before Delisting:
| Time Before Delivery | X (%) | Y (%) | Z (%) |
|---|---|---|---|
| 48 hours | 2 | 2 | 5 |
| 30 minutes | 1 | 1 | 2 |
These tighter limits help reduce manipulation risks and promote stable price discovery during the critical wind-down phase. OKX may further adjust these parameters if significant price deviations occur.
Margin Trading Delisting Details
The WSM/USDT margin trading pair will also be removed from service under the following timeline:
| Action | Time (UTC) |
|---|---|
| Cease borrowing feature | February 1, 2024, 6:00 AM |
| Full delisting | February 6, 2024, 9:00 AM |
Key implications:
- Margin trading and flexible loan services for WSM/USDT will be suspended.
- Open margin orders will be canceled automatically.
- The shutdown process will take approximately one hour per trading pair.
Users who have borrowed WSM or used it as collateral must repay their loans before the delisting time. Failure to do so will trigger forced repayment by the system.
Given the potential for sharp price swings near delisting, OKX strongly advises users to close positions early and avoid last-minute exposure.
Asset Transfer Restrictions After Delisting
To ensure smooth settlement of perpetual futures contracts, OKX will impose temporary restrictions on asset transfers:
- For the first 30 minutes after delisting, users holding positions valued over $10,000 USD at settlement time will be unable to transfer assets out of their trading accounts.
- Normal transfer functionality will resume after this 30-minute cooling period.
Note: 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.
Discount Rate Update for WSM
As part of broader risk control measures, OKX has updated the discount rate applied to WSM when used as collateral in multi-currency cross-margin accounts.
Why Discount Rates Matter
In cross-margin trading, various cryptocurrencies are converted into USD-equivalent value to serve as margin. However, due to differences in liquidity and volatility, not all assets are treated equally. Lower liquidity assets receive a discount to reflect higher risk.
Previous vs. Current Discount Rates for WSM:
| Tier (USD Value) | Old Discount Rate (%) | New Discount Rate (%) |
|---|---|---|
| 0 – 50,000 | 0.5 | 0 |
| > 50,000 | 0 | 0 |
This means WSM no longer offers any discount benefit—its full market value is reduced when calculating usable margin, effectively increasing margin requirements for traders relying on WSM as collateral.
👉 Maximize your margin efficiency with advanced trading features.
Frequently Asked Questions (FAQ)
Q: What happens to my open WSMUSDT perpetual futures position after delisting?
A: All open positions will be automatically settled at the arithmetic average price of the OKX index one hour before delisting. You’ll receive the settled value in your account.
Q: Can I still trade WSM/USDT before delisting?
A: Yes, trading remains available until the specified delisting time. However, due to increased volatility and tighter price limits, it’s recommended to close positions early.
Q: Will I lose money if I don’t close my margin loan before delisting?
A: Unpaid loans will trigger forced repayment. If your collateral value drops due to market movements, you may face liquidation losses. Repay early to avoid penalties.
Q: Why is OKX removing WSM trading pairs?
A: The decision aims to improve overall market liquidity and user experience by focusing on higher-demand and more stable assets.
Q: How can I download my trade history for WSM?
A: Go to the Report Center on the OKX website, select the appropriate date range and product type, then export your data in CSV format.
Q: Is there any chance WSM could be relisted in the future?
A: Relisting depends on market conditions and project performance. Monitor official OKX announcements for updates.
Final Recommendations for Traders
Delistings like this require proactive risk management. Here’s what you should do:
- Review your portfolio: Check if you hold any WSM-related positions or use it as collateral.
- Close positions early: Avoid last-minute slippage or forced liquidations.
- Repay margin loans: Ensure all debts are settled before the deadline.
- Back up your data: Download order and billing records from the Report Center.
- Monitor announcements: Stay updated through OKX’s official channels for similar future changes.
👉 Access powerful analytics and secure trading tools designed for every level of trader.
By implementing structured delisting procedures and transparent communication, OKX continues to prioritize user protection and market integrity. While changes like these may require short-term adjustments, they contribute to a safer, more efficient trading ecosystem in the long run.
Traders are urged to act promptly and responsibly as the February 6 deadline approaches. Staying informed and prepared is key to navigating crypto market transitions successfully.