As part of ongoing efforts to manage market risk and enhance user trading experience, OKX regularly reviews and adjusts its available trading pairs across leverage and perpetual contract markets. In line with this commitment, the platform will be delisting the FRONT/USDT leveraged trading pair and associated perpetual contract. Below is a comprehensive overview of the changes, timelines, and important actions users should take.
🔧 Leveraged Trading & Flexible Lending Delisting Schedule
To maintain market stability and protect user assets, OKX will phase out leveraged trading and flexible lending support for the FRONT/USDT pair according to the following schedule:
- Borrowing Suspension:
Borrowing functionality for FRONT/USDT will be disabled on September 2, 2024, at 10:00 AM (UTC+8). - Full Delisting Timeframe:
Leveraged trading and flexible lending services will be fully discontinued between 11:00 AM and 12:00 PM (UTC+8) on September 4, 2024.
During this one-hour window, all open leveraged positions will be closed, and outstanding market orders will be canceled. Users who have borrowed FRONT or used it as collateral must repay their liabilities before the delisting window begins. Failure to do so will trigger an automatic forced repayment by the system.
⚠️ Risk Advisory: Market volatility may increase ahead of delisting. To avoid unexpected losses during forced repayments, users are strongly advised to close positions manually in advance.
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💰 Cross-Margin Discount Rate Adjustment for FRONT
In cross-margin trading, multiple cryptocurrencies can be used as collateral after being converted into USD value—with adjustments based on market liquidity and risk. The discount rate determines how much of a given asset’s value can be used as margin.
Effective immediately, the discount rate for FRONT has been updated as follows:
| USD Value Tier | Previous Discount Rate | New Discount Rate |
|---|---|---|
| $0 – $50,000 | 50% | 0% |
| Above $50,000 | 0% | 0% |
This means FRONT will no longer contribute any discounted value toward margin requirements in cross-margin accounts.
This adjustment reflects FRONT’s reduced market liquidity and supports overall risk control across multi-asset portfolios.
For more details on how discount rates work, visit the margin asset valuation guide.
📉 FRONTUSDT Perpetual Contract Delisting
The FRONTUSDT perpetual contract will be officially delisted on September 4, 2024, at 4:00 PM (UTC+8).
At that time:
- All trading will cease.
- Open orders will be automatically canceled.
- User positions will be settled using the arithmetic average of the OKX index price from 3:00 PM to 4:00 PM (UTC+8) as the final settlement price.
In cases where index manipulation is suspected, OKX reserves the right to adjust the final price to a fair and reasonable level.
Settlement & Fee Details
- The funding rate for the final period (3:00 PM – 4:00 PM) will be set to 0%, meaning no funding payments will be charged or recorded.
- No delivery fees or additional charges will apply during settlement.
Post-Delisting Restrictions
Users holding positions valued over $10,000 USD at the time of settlement will face temporary restrictions on fund transfers across their trading accounts. These restrictions will last for 30 minutes after delisting and then lift automatically.
Historical order records and billing statements will remain accessible via the desktop Order Center, allowing users to export data for personal record-keeping.
🛡️ Risk Management Measures Before Delisting
To ensure a smooth and orderly delisting process, OKX is implementing enhanced risk controls on the FRONTUSDT perpetual contract.
Adjusted Price Limit Rules
Price limits help prevent extreme volatility and manipulation near contract expiration.
| Phase | X (%) | Y (%) | Z (%) |
|---|---|---|---|
| 48 Hours Before Delisting | 2% | 2% | 5% |
| Final 30 Minutes | 1% | 1% | 2% |
Price Limit Formulas:
First 10 minutes after contract launch:
- Max Price:
Index × (1 + X) - Min Price:
Index × (1 – X)
- Max Price:
After first 10 minutes:
- Max Price:
Min[Max(Index, Index × (1 + Y) + Avg Premium), Index × (1 + Z)] - Min Price:
Max[Min(Index, Index × (1 – Y) + Avg Premium), Index × (1 – Z)]
- Max Price:
These dynamic limits tighten as delisting approaches, reducing the risk of abnormal price swings.
Note: OKX may further adjust these parameters if market conditions warrant.
📊 Tiered Position Limits Adjustment
To improve liquidity and strengthen risk management, OKX will update the tiered position grading system for the FRONTUSDT perpetual contract on September 2, 2024, between 2:00 PM and 3:00 PM (UTC+8).
Here’s a summary of the changes:
| Tier | Old Max Contracts | Old Initial Margin | Old Max Leverage | New Max Contracts | New Initial Margin | New Max Leverage |
|---|---|---|---|---|---|---|
| 1 | 500 | 2.00% | 50× | 1,500 | 5.00% | 20× |
| 2 | 1,000 | — | 40× | 3,000 | — | 15× |
| 3 | 2,000 | — | — | 4,500 | — | 12.5× |
| 4+ | +2,000 per tier | +0.5% per tier | Tier-specific | +1,500 per tier | +0.5% per tier | Tier-specific |
Key implications:
- Maximum allowable position size per tier increases significantly.
- Initial margin requirements are now higher (e.g., Tier 1 jumps from 2% to 5%), reducing maximum leverage.
- This encourages more responsible position sizing and reduces systemic risk.
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🔍 Frequently Asked Questions (FAQ)
Q1: What happens if I don’t close my FRONT/USDT leveraged position before delisting?
You will be subject to forced liquidation. The system will automatically close your position during the delisting window, which may result in losses due to unfavorable market conditions.
Q2: Will I be charged fees when my perpetual contract is settled?
No. There are no funding fees for the final period, and no delivery or settlement fees apply.
Q3: Can I still view my trade history after the contract is delisted?
Yes. All historical orders and billing records remain accessible through the desktop version of OKX under the Order Center. We recommend exporting your data promptly.
Q4: Why was FRONT’s discount rate set to zero?
Due to declining market liquidity and trading volume, setting the discount rate to zero helps protect cross-margin account holders from potential volatility and valuation risks.
Q5: How does the tiered margin adjustment affect my current position?
If your position spans multiple tiers, your effective maintenance margin rate may increase. Review your exposure and consider reducing leverage or adding margin to avoid liquidation.
Q6: Are other tokens likely to be delisted soon?
OKX continuously evaluates all listed assets based on liquidity, trading volume, and compliance. Users are encouraged to monitor official announcements regularly.
✅ Final Reminders
- Repay all borrowed FRONT before September 4, 11:00 AM (UTC+8).
- Close or reduce leveraged and perpetual positions proactively.
- Monitor your margin levels closely following the tiered rule update.
- Export trade history before the contract expires.
OKX remains committed to delivering secure, transparent, and user-focused trading experiences. By proactively managing underperforming markets, we ensure healthier ecosystems across all trading products.
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