The cryptocurrency landscape is constantly evolving, and exchanges must adapt to maintain compliance, security, and market integrity. As part of its ongoing platform optimization, OKX has announced the delisting of margin trading, perpetual swap contracts, and savings products for LUNA, ANC, and MIR. This decision, effective May 13, 2022, reflects strategic adjustments in response to market conditions and asset performance.
While this update primarily impacts users actively engaged with these tokens in leveraged or yield-generating products, it underscores the importance of staying informed about exchange policies and managing digital asset portfolios proactively.
👉 Stay ahead of market changes with real-time updates and secure trading tools.
Margin Trading Services to Be Suspended
OKX will gradually phase out margin trading support for LUNA/USDT, ANC/USDT, and MIR/USDT trading pairs on May 13, 2022 (UTC). Users are advised to review the timeline closely to avoid unintended liquidations or forced repayments.
Key Timeline for Margin Trading Delisting
- 04:00 UTC – The borrowing function for LUNA, ANC, and MIR will be disabled. From this point forward, users will no longer be able to take out new loans using these assets as collateral.
- 12:00 UTC – All margin trading services for the affected pairs will be suspended. Any open market orders will be automatically canceled by the system.
- 14:00 UTC – A forced repayment process will be initiated for any outstanding borrowings in LUNA, ANC, or MIR. If users have not manually repaid their debts by this time, the system will execute repayment using available balances in their margin accounts.
It is crucial for traders to monitor their positions and settle liabilities before the cutoff times. Failure to do so may result in partial or full liquidation of collateral, depending on account equity and loan-to-value ratios.
Users are strongly encouraged to transfer assets to their funding accounts or adjust positions well in advance to maintain control over their funds.
Perpetual Swap Contracts to Be Delisted
In addition to margin trading, OKX will also delist perpetual swap contracts for LUNAUSDT, MIRUSDT, and ANCUSDT at 08:00 UTC on May 13, 2022. This action means all trading functionality for these derivatives will cease at that time.
Settlement Process for Open Positions
All open perpetual swap positions will be settled using the arithmetic average price of the corresponding OKX index during the one hour preceding delisting (i.e., from 07:00 to 08:00 UTC). This method ensures a fair and transparent final valuation based on market data.
However, in the event of index price anomalies—such as extreme volatility or data feed disruptions—OKX reserves the right to adjust the final settlement price to a reasonable level to protect market fairness.
Funding Rate Adjustment
The funding rate at the time of delisting (08:00 UTC) will be set to 0. As a result, no funding payments will be charged or received during the final settlement period. This eliminates last-minute cost fluctuations for traders holding positions until delisting.
Risk Management Advisory
Given the potential for heightened volatility ahead of contract termination, OKX urges users to adopt prudent risk management strategies:
- Reduce leverage to minimize liquidation risk.
- Close positions early to avoid settlement uncertainties.
- Monitor account balances and ensure sufficient margin coverage.
👉 Access advanced trading tools and real-time analytics to manage your risk effectively.
Asset Transfer Restrictions After Delisting
To maintain platform stability during the transition, OKX will impose temporary restrictions on asset withdrawals:
- Users holding perpetual swap positions valued at over $10,000 at the time of settlement will face a 30-minute hold on transferring assets out of their Trading Account.
- This restriction is designed to prevent systemic risks caused by immediate large-scale withdrawals following settlement.
After the 30-minute window expires, all transfer functions will be restored automatically. Historical trade records, order details, and billing statements will remain accessible via the user dashboard even after delisting.
Data Backup Recommendation
Traders are advised to download their transaction history before or shortly after the delisting event. This can be done through the Report Center on the OKX web platform. Preserving personal records ensures transparency and supports future tax or portfolio reporting needs.
Savings Products Affected
The delisting also impacts savings services for the affected tokens:
- Once the borrowing function is disabled (at 04:00 UTC), subscription options for LUNA, ANC, and MIR in OKX’s savings products will be suspended.
- Shortly after margin trading goes offline, the system will automatically redeem all outstanding savings holdings and credit the proceeds to users’ funding accounts.
This auto-redemption process ensures that users regain access to their principal without delay. However, no further interest will accrue after the suspension takes effect.
Users who wish to reinvest or reallocate these assets should consider alternative staking or yield opportunities on supported platforms.
Frequently Asked Questions (FAQ)
Q: Why is OKX delisting LUNA, ANC, and MIR from margin and perpetual trading?
A: Exchanges periodically review listed assets based on liquidity, market demand, compliance, and risk factors. While OKX does not always disclose specific reasons, such actions often follow significant price volatility or reduced trading activity in these assets.
Q: Will I lose my funds if I don’t close my position before delisting?
A: No. Your positions will be settled fairly using the index average price. However, failure to repay margin loans may lead to forced liquidation. Always ensure your account is in good standing before deadlines.
Q: Can I still trade spot markets for LUNA, ANC, or MIR after May 13?
A: This announcement specifically refers to margin trading, perpetual swaps, and savings products. Spot trading availability depends on separate listing decisions—users should check OKX’s official announcements for updates.
Q: How can I check my historical orders after delisting?
A: All past trades and bills remain viewable in your account history. You can also download detailed reports via the “Report Center” on the OKX website.
Q: What happens if the index price is manipulated right before settlement?
A: OKX monitors index integrity closely. In cases of abnormal price behavior, the exchange may adjust the final settlement price to a fair and reasonable level to prevent exploitation.
Q: Is this delisting permanent?
A: Unless otherwise announced, delisted products remain inactive indefinitely. Relisting depends on future evaluations of market conditions and asset performance.
Final Notes
The removal of margin trading, perpetual swaps, and savings options for LUNA, ANC, and MIR marks a significant change for active traders and yield seekers. While such decisions can disrupt short-term strategies, they also highlight the importance of agility in crypto investing.
Staying informed about platform updates allows users to act promptly and protect their capital. Whether reallocating funds, adjusting leverage, or securing transaction records, proactive management is key in a fast-moving digital asset environment.
👉 Secure your crypto journey with a trusted platform offering robust tools and responsive support.
As always, users are encouraged to follow official OKX channels for future announcements regarding listings, delistings, and service enhancements.