The cryptocurrency landscape is constantly evolving, and exchanges must adapt to maintain optimal performance, security, and user experience. As part of this ongoing optimization, OKX has announced the full delisting of TORN trading pairs across multiple product lines — including spot trading, margin trading, perpetual contracts, and savings services. This strategic decision aligns with the exchange’s Token Delisting and Hiding Guidelines, designed to enhance platform efficiency and user safety.
This comprehensive update ensures users are fully informed about timelines, implications, and necessary actions to protect their assets during the transition.
Spot Trading: Final Cutoff on September 27
OKX will officially cease spot trading for all TORN pairs at 10:00 AM UTC on September 27, 2022. At this time:
- All active TORN orders will be automatically canceled.
- The TORN trading pairs will be removed from the spot market interface.
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Traders are strongly encouraged to close or adjust their positions before the deadline. Given the potential for high volatility in the final hours of trading, early action can help avoid slippage and unexpected losses.
Margin Trading: Borrowing Already Suspended
The margin trading functionality for TORN has already undergone partial suspension:
- Borrowing of TORN was disabled at 9:00 AM UTC on September 21, 2022.
Full margin trading will terminate at 2:00 AM UTC on September 27, 2022, at which point:
- All open TORN margin orders will be canceled.
- A forced repayment process will be triggered for any outstanding borrowings.
Important: Repay Before the Deadline
Users with open TORN margin loans must repay their debts before 2:00 AM UTC on September 27. Failure to do so may result in forced liquidation and associated penalties. Due to potential price swings during the delisting window, early repayment is strongly advised to minimize risk.
Perpetual Contracts: Delivery and Settlement Details
To ensure a smooth exit from derivatives markets, OKX will delist the TORNUSDT perpetual swap at 8:00 AM UTC on September 26, 2022. Key actions include:
- Trading halt: All order book activity will cease.
- Automatic position delivery: Open positions will be settled using the arithmetic average price of the OKX TORN index over the one hour preceding delisting.
Final Funding Rate Adjustment
The funding rate at the time of delisting will be set to 0%, meaning no funding fees will be charged or collected for that cycle. This prevents unfair cost imbalances during settlement.
Post-Delisting Transfer Restrictions
To maintain system stability:
- Users holding TORNUSDT perpetual positions valued at over $10,000 at settlement time will face a 30-minute withdrawal freeze from their Trading Account.
- After this brief window, transfer capabilities will resume normally.
All historical trade records, order data, and billing statements will remain accessible via the Report Center on OKX’s web platform. Users are encouraged to download their data promptly for future reference.
Risk Control Parameter Adjustments
In anticipation of heightened market volatility near delisting, OKX has implemented temporary adjustments to price limit mechanisms for the TORNUSDT perpetual contract.
Updated Price Limit Rules
Starting 48 hours before delivery, the following thresholds apply:
September 24 at 8:00 AM UTC:
- X = 2%, Y = 2%, Z = 5%
Then, 30 minutes before delivery:
September 26 at 7:30 AM UTC:
- X = 1%, Y = 1%, Z = 2%
These dynamic limits help prevent extreme price deviations while allowing orderly trading. If abnormal price behavior occurs, OKX reserves the right to adjust final settlement values to reflect fair market conditions.
Savings Products: Automatic Redemption Coming
With borrowing disabled, OKX will also suspend new savings subscriptions for TORN. Once margin trading is fully taken offline:
- The system will automatically redeem all existing TORN savings holdings.
- Redeemed assets will be transferred to users’ Funding Accounts for further management.
No manual action is required for savings users — however, it's wise to monitor your account during this period to ensure seamless fund availability post-redemption.
Why Is OKX Delisting TORN?
While OKX does not always disclose specific reasons for delisting, common factors include:
- Declining liquidity or trading volume
- Project-related developments or migration plans (e.g., network upgrades)
- Community feedback and risk assessment
- Compliance with internal listing standards
This move reflects OKX’s proactive approach to maintaining a high-quality asset ecosystem that prioritizes user protection and platform integrity.
Frequently Asked Questions (FAQ)
Q: Why is OKX delisting TORN?
A: The delisting follows OKX's standard Token Delisting and Hiding Guidelines, aimed at improving user experience, managing risk, and ensuring healthy market conditions across supported assets.
Q: Do I need to take action before the delisting?
A: Yes. You should close any open spot, margin, or perpetual positions before their respective deadlines. For savings users, redemption will be automatic — but monitoring your account is recommended.
Q: What happens if I don’t repay my TORN margin loan on time?
A: Failure to repay by 2:00 AM UTC on September 27 will trigger forced repayment, which may result in liquidation and potential losses due to market volatility.
Q: How is the final price calculated for perpetual contracts?
A: Positions are settled using the arithmetic average of the OKX index price during the one hour before delisting. Adjustments may be made if index anomalies occur.
Q: Will I lose access to my trading history after delisting?
A: No. All historical orders, bills, and reports remain accessible through the Report Center on the OKX web interface.
Q: Can I still deposit or withdraw TORN after delisting?
A: This announcement covers trading and savings products; wallet services (deposit/withdrawal) may have separate timelines. Check OKX’s official notices for updates on TORN blockchain support.
Stay Informed and Trade Securely
Market changes like delistings are inevitable in the fast-moving crypto space. Staying informed allows you to act quickly and protect your investments. Whether you're managing spot holdings, leveraging margin positions, or earning yield through savings products, timely decisions are crucial.
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OKX remains committed to transparency, security, and user-centric innovation. For further assistance regarding the TORN delisting, users can reach out via the official OKX Telegram group or contact the Support Center.
Final Timeline Summary
| Service | Action | Date & Time (UTC) |
|---|---|---|
| Margin Borrowing | Disabled | Sep 21, 9:00 AM |
| Perpetual Contracts | Trading Halt & Settlement | Sep 26, 8:00 AM |
| Margin Trading | Orders Canceled & Forced Repayment | Sep 27, 2:00 AM |
| Spot Trading | Pairs Removed | Sep 27, 10:00 AM |
| Savings | Auto Redemption | After margin delisting |
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By understanding these changes and acting proactively, users can navigate the TORN delisting smoothly and continue trading with confidence on one of the world’s most trusted digital asset platforms.
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