The cryptocurrency exchange OKX has announced upcoming changes to its trading offerings involving the SingularityNET (AGIX) token. As part of a coordinated migration initiative led by SingularityNET, OKX will delist both the AGIX/USDT perpetual futures and margin trading pairs. This move affects traders using leverage, holding open positions, or managing collateral in AGIX. Below is a detailed breakdown of what users need to know, including timelines, risk management adjustments, and key actions required to avoid potential losses.
Perpetual Futures Delisting Details
OKX will officially delist the AGIXUSDT perpetual futures contract on June 28, 2024, between 8:00 and 9:00 UTC. After this window, the trading pair will no longer be available for new entries or active trades.
All open positions will be automatically settled at the arithmetic average price of the OKX index, calculated over the hour preceding delisting (i.e., from 7:00 to 8:00 UTC). This ensures a fair and transparent delivery mechanism based on real market data.
👉 Stay ahead of market changes with real-time updates and advanced trading tools.
In cases where the index price shows abnormal behavior—such as extreme volatility or data discrepancies—OKX reserves the right to adjust the final settlement price to a reasonable and representative level. This safeguard helps maintain platform stability and protects users from unfair liquidations due to manipulated or broken pricing.
Notably, the funding rate at 8:00 AM UTC on the day of delisting will be set to 0%, meaning no funding payments will be charged or received during that cycle. This eliminates last-minute cost surprises for holders of long or short positions.
Risk Management and Asset Withdrawal Rules
Given the potential for sharp price swings in the hours leading up to delisting, OKX strongly advises users to reduce leverage or close positions early. High volatility increases the risk of forced liquidations, especially for highly leveraged accounts.
Additionally, users holding positions valued above $10,000 at the time of settlement will face temporary restrictions:
- Asset withdrawals from trading accounts will be blocked for 30 minutes post-delisting.
- After this brief lockout period, normal transfer functionality will resume.
This measure is designed to prevent system strain during high-volume settlement operations and ensure orderly processing across the platform.
Even after delisting, users can still access their order history and billing records via the Report Center on the OKX website. It's recommended to download any relevant transaction data before or shortly after delisting for personal record-keeping and tax reporting purposes.
Adjustments to Price Limit Rules
To enhance control over market fluctuations near delisting, OKX has temporarily modified its risk parameters for price limits:
During normal trading:
- The highest allowable price = Index × (1 + X)
- The lowest allowable price = Index × (1 – X)
Where:
- X applies within the first 10 minutes after contract creation
- Y and Z govern pricing beyond that initial window
| Time Before Delivery | X | Y | Z |
|---|---|---|---|
| 48 hours | 2% | 2% | 5% |
| 30 minutes | 1% | 1% | 2% |
As delivery approaches, tighter bands (lower X, Y, Z values) help reduce slippage and prevent erratic price movements. If significant deviations occur between the contract and index prices, OKX may further adjust these limits dynamically based on live market conditions.
These refinements support a smoother wind-down process and help protect traders from extreme volatility during the final moments of trading.
Margin Trading Pair Discontinuation
In addition to futures, OKX will also delist the AGIX/USDT margin trading pair, with a phased shutdown:
- Borrowing feature suspended: June 26, 2024, at 8:00 AM UTC
- Full delisting completed: June 27, 2024, at 9:00 AM UTC
The suspension process will take approximately one hour per trading pair. Once disabled:
- All open margin orders will be canceled
- Flexible loan services involving AGIX will cease
Users who have borrowed AGIX or used it as collateral must repay all outstanding loans before the delisting time. Failure to do so will trigger an automatic forced repayment by the system, which could result in unfavorable rates or partial asset liquidation.
👉 Secure your assets and manage leveraged positions with precision tools.
Due to potential extreme price movements around these dates, OKX recommends ceasing all trading activity related to AGIX early and closing positions proactively to avoid unexpected losses.
Changes to Collateral Discount Rates
With the delisting, OKX is also adjusting how AGIX is valued when used as collateral in cross-margin accounts.
Previously, AGIX had tiered discount rates:
- 0–50,000 USD value: 50% discount rate
- Above 50,000 USD: 0% discount rate
Now, AGIX will have a 0% discount rate across all tiers, meaning it cannot be used as margin in multi-currency cross-margin mode.
This change reflects reduced liquidity expectations and aligns with broader risk mitigation strategies during token migrations. Since different cryptocurrencies carry varying levels of market risk, platforms apply discount rates to account for potential volatility and illiquidity. By setting AGIX’s rate to zero, OKX effectively removes it from eligible collateral until further notice.
Frequently Asked Questions (FAQ)
Q: Why is OKX delisting AGIX perpetual and margin trading?
A: The delisting follows official guidance from SingularityNET regarding token migration. Exchanges often adjust listings during major protocol upgrades to ensure alignment with network changes.
Q: What happens if I don’t close my AGIX futures position before delisting?
A: Your position will be automatically settled at the average index price one hour before delisting. No action is needed, but you won’t have control over exit timing.
Q: Can I still withdraw funds after my position is settled?
A: Yes, but if your settled position exceeds $10,000 in value, withdrawals will be locked for 30 minutes post-delisting.
Q: Will I be charged funding fees on the day of delisting?
A: No. The funding rate at 8:00 AM UTC will be set to 0%, so no funding fees will apply for that cycle.
Q: Can I still use AGIX as collateral after delisting?
A: No. The discount rate for AGIX has been set to 0%, meaning it cannot be used as margin in cross-margin accounts.
Q: Where can I find my trade history after delisting?
A: All order and billing records remain accessible through the Report Center on the OKX website.
👉 Access comprehensive trading reports and historical data seamlessly.
Final Notes
This delisting is part of routine platform maintenance driven by ecosystem developments. Traders are encouraged to review their exposure to AGIX across all account types—futures, margin, and lending—and take timely action. Proactive risk management not only avoids forced liquidations but also ensures smooth transitions during major market events.
By staying informed and utilizing OKX’s suite of risk controls and reporting tools, users can navigate delistings confidently and maintain control over their digital asset strategies.