In a proactive move to manage market risk and enhance user trading experience, OKX has announced the upcoming delisting of two margin trading pairs: BADGER/USDT and X/USDT. This strategic adjustment reflects the platform’s ongoing commitment to maintaining a secure, stable, and sustainable trading environment. The changes will impact both leveraged trading and flexible lending services for the affected assets.
This article outlines the timeline, implications, and necessary actions users should take ahead of the delisting. We’ll also explore how such decisions align with broader risk management practices in the crypto space.
Upcoming Changes to Margin Trading and Flexible Lending
OKX will phase out support for the BADGER/USDT and X/USDT margin trading pairs in early June 2025. The process involves two key stages: disabling borrowing functionality and fully removing the trading pairs from the platform.
Key Timeline
- Borrowing Suspension:
Both BADGER and X will lose their borrowing functionality on June 2, 2025, at 3:00 PM (UTC+8). After this time, users will no longer be able to open new leveraged positions or borrow these assets in flexible lending accounts. - Full Delisting Window:
The complete removal of these pairs will occur between June 5, 2025, from 2:00 PM to 6:00 PM (UTC+8). During this 4-hour window, each delisting process will take approximately two hours.
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Once the delisting begins:
- All active leveraged trading orders for these pairs will be canceled.
- Flexible lending services will be suspended.
- Users who have borrowed either BADGER or X must repay their debts before the delisting window starts.
Failure to repay will trigger an automatic forced repayment by the system, which could result in unexpected losses—especially during periods of high volatility.
Why Are These Pairs Being Delisted?
While OKX does not always disclose specific reasons for delisting decisions, such actions are typically driven by several factors:
- Declining trading volume
- Reduced market liquidity
- Increased volatility or systemic risk
- Strategic realignment of supported assets
In this case, both BADGER and X may have shown signs of weakening market activity or elevated risk profiles. By removing underperforming or high-risk pairs, OKX helps protect users from potential slippage, manipulation, or sudden liquidations.
This is part of a broader trend among top-tier exchanges to maintain only the most viable and secure trading options—a practice that benefits long-term traders and institutional investors alike.
Important: Adjust Your Positions Before the Deadline
If you currently hold leveraged positions or borrowed assets involving BADGER or X, immediate action is required.
Recommended Steps:
- Monitor Your Open Positions
Check your margin account for any open trades using BADGER/USDT or X/USDT. - Repay Borrowed Assets Early
Return any borrowed BADGER or X tokens before June 5, 2025, to avoid forced repayment at potentially unfavorable rates. - Close or Transfer Positions
Consider closing your leveraged trades manually before the suspension. Automated liquidation during volatile markets can lead to significant losses. - Diversify Risk Exposure
Reallocate funds to more liquid and stable trading pairs to maintain portfolio flexibility.
⚠️ Risk Warning: Due to potential price swings during the delisting window, users are strongly advised to exit positions proactively. Relying on system-managed closures increases the risk of financial loss.
Understanding the Impact of Collateral Discount Rate Adjustments
In tandem with the delisting, OKX is adjusting the collateral discount rates for these tokens as part of its cross-margin account model.
What Is a Collateral Discount Rate?
In a cross-margin account, multiple cryptocurrencies can be used collectively as collateral. However, not all assets are treated equally when calculating available margin. To account for differences in liquidity and volatility, platforms apply a discount rate—a percentage reduction applied to an asset’s market value when used as collateral.
For example:
- If BTC has a 90% discount rate, $10,000 worth of BTC counts as $9,000 in margin.
- A less liquid token might have a 50% or lower rate—or eventually, 0%.
What’s Changing?
OKX will gradually reduce the discount rates for BADGER and X to 0% during their phase-out period. This means:
- These tokens will no longer contribute to your margin balance.
- Your effective leverage may drop unexpectedly.
- Maintenance margin requirements could rise, increasing liquidation risk.
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Users relying on these assets as collateral must respond quickly by:
- Adding more stable collateral (e.g., USDT, BTC, ETH)
- Reducing position size
- Closing high-risk trades
Frequently Asked Questions (FAQ)
Q1: What happens if I don’t repay my borrowed BADGER or X before delisting?
You will face forced repayment by the system. OKX will automatically sell your assets to cover the debt, which may occur at unfavorable prices during volatile market conditions—potentially leading to losses.
Q2: Can I still trade BADGER or X after June 5?
Yes—but only in spot trading (if supported). The delisting applies specifically to margin trading and flexible lending. Always check OKX’s official announcements for updates on spot pair availability.
Q3: Why is OKX lowering the collateral discount rate?
Lowering the discount rate mitigates risk as assets approach delisting. Illiquid or volatile tokens pose higher default risks in leveraged positions. Reducing their collateral value protects both users and the platform from cascading liquidations.
Q4: How can I check my current discount rates?
Visit your margin account settings on OKX and review the “Collateral Value” section. The platform displays real-time discount rates for all supported assets.
Q5: Will other tokens be delisted soon?
OKX regularly evaluates all listed assets based on liquidity, compliance, and risk metrics. While no further announcements have been made, users should stay informed through official channels and monitor underperforming holdings.
Q6: Is this a permanent removal?
Once delisted from margin and lending services, reinstatement is rare unless significant market improvements occur. Treat this as a permanent change unless otherwise stated by OKX.
Final Thoughts: Staying Proactive in a Dynamic Market
The crypto market evolves rapidly, and so do the platforms that support it. OKX’s decision to delist BADGER and X from leveraged services isn’t just about removing two tokens—it’s about reinforcing a culture of risk-aware trading.
By staying informed and acting early, traders can avoid unnecessary losses and adapt their strategies to changing conditions. Whether it's adjusting collateral usage or exiting positions before deadlines, proactive management is key.
As digital asset ecosystems mature, expect more exchanges to adopt similar risk-based pruning of trading pairs. Being prepared gives you a competitive edge.
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