In a strategic move to enhance market liquidity and optimize user experience, OKX has announced the delisting of certain WSM trading instruments. This includes both WSMUSDT perpetual futures and WSM/USDT margin trading pairs. These changes are part of ongoing efforts to maintain a healthy trading environment, manage risk, and ensure platform efficiency.
This article provides a comprehensive breakdown of the delisting schedule, key implications for traders, risk management adjustments, and essential steps users must take before the deadlines.
Perpetual Futures Delisting Details
OKX will officially delist the WSMUSDT perpetual futures contract on February 6, 2024, between 8:00 AM and 9:00 AM UTC. After this window, all related trading activity will cease.
Key Actions and Timeline
- Order Cancellation: All open orders in the order book for WSMUSDT perpetual futures will be automatically canceled upon delisting.
- Position Delivery: Open positions will be settled at the arithmetic average price of the OKX index, calculated over the one hour preceding delisting.
- Abnormal Price Handling: In the event of index price irregularities during the final hour, OKX reserves the right to adjust the final settlement price to a fair and reasonable level.
- Funding Rate Adjustment: The funding rate at 8:00 AM UTC on delisting day will be set to 0%, meaning no funding fees will be charged or paid during that cycle.
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Risk Management for Traders
Given the potential for increased volatility leading up to delisting, traders are strongly advised to:
- Reduce leverage exposure
- Close positions in advance
- Monitor account health closely
Additionally, users holding positions valued at over $10,000 USD at the time of settlement will face a 30-minute withdrawal restriction immediately after delisting. Asset transfers will resume normally after this period.
All order history and billing records remain accessible post-delisting. Users can download historical data via the Report Center on the OKX website for personal records or tax purposes.
Adjustments to Risk Control Parameters
To ensure smooth delivery and minimize manipulation risks, OKX has temporarily modified its price limit mechanisms for the affected perpetual contracts.
Price Limit Rule Changes
Price limits determine the maximum allowable deviation from the index price, preventing extreme or manipulative trades.
Standard Calculation Formula
First 10 minutes after contract generation:
- Highest price limit:
Index × (1 + X) - Lowest price limit:
Index × (1 – X)
- Highest price limit:
After first 10 minutes:
- Highest price limit:
Min[Max(Index, Index × (1 + Y) + Average premium over past 10 minutes), Index × (1 + Z)] - Lowest price limit:
Max[Min(Index, Index × (1 – Y) + Average premium over past 10 minutes), Index × (1 – Z)]
- Highest price limit:
Adjusted Parameters
| Time Before Delivery | X | Y | Z |
|---|---|---|---|
| 48 hours | 2% | 2% | 5% |
| 30 minutes | 1% | 1% | 2% |
Note: If significant price deviations occur prior to delisting, OKX may further adjust these limits based on real-time market conditions.
These tighter constraints help stabilize pricing during the critical final phase and protect users from unexpected slippage or unfair liquidations.
Margin Trading Pair Delisting
In parallel with futures delisting, OKX will also remove WSM/USDT from its margin trading offerings.
Key Dates
| Event | Time |
|---|---|
| Borrowing Suspension | February 1, 2024, 6:00 AM UTC |
| Full Delisting | February 6, 2024, 9:00 AM UTC |
The suspension process will take approximately one hour per trading pair. During this time:
- Margin trading and flexible loans involving WSM/USDT will be disabled
- Open margin orders will be canceled
- Users must repay any outstanding borrowings before the full delisting time
Failure to repay by the deadline will trigger an automatic forced repayment, which may result in liquidation of collateral and associated losses.
👉 Protect your portfolio with proactive risk controls and early position management.
Due to potential price swings, OKX urges users to stop trading WSM/USDT immediately and close all open positions ahead of schedule to avoid forced exits.
Discount Rate Adjustment for WSM
As part of broader risk mitigation, OKX has updated the discount rate applied to WSM within multi-currency cross margin accounts.
What Is a Discount Rate?
In cross-margin trading, various cryptocurrencies are converted into USD equivalents to serve as collateral. However, due to differences in liquidity and volatility, not all assets are valued at full face value. The discount rate reflects how much an asset's value is reduced when used as margin.
For example:
- A 50% discount rate means only half of the asset’s market value counts toward margin requirements.
Updated WSM Discount Schedule
| Asset | Tier (USD Value) | Previous Discount Rate | New Discount Rate |
|---|---|---|---|
| WSM | 0–50,000 | 50% | 0% |
| >50,000 | 0% | 0% |
Starting immediately, WSM will no longer carry any discount, effectively removing it from eligible collateral in cross-margin mode. This change increases margin requirements for any remaining positions involving WSM and emphasizes the need for timely action.
Frequently Asked Questions (FAQ)
Q: Why is OKX delisting WSM perpetual futures and margin pairs?
A: The decision aims to improve market liquidity, reduce systemic risk, and enhance overall user experience by streamlining less-active trading pairs.
Q: What happens if I don’t close my WSMUSDT perpetual position before delisting?
A: Your position will be automatically settled at the average index price one hour before delisting. No action is required, but you lose control over exit timing.
Q: Will I still be able to withdraw funds after my position is delivered?
A: Yes, but if your delivered position exceeds $10,000 USD in value, withdrawals will be locked for 30 minutes post-delisting.
Q: Can I still use WSM as collateral after the discount rate change?
A: No — with the discount rate now set to 0%, WSM cannot be used as margin in cross-margin accounts. You should adjust your collateral strategy accordingly.
Q: How do I download my trading history before delisting?
A: Go to the Report Center on the OKX website and export your order history, billing records, and transaction logs under the relevant date range.
Q: What should I do if I have an open loan in WSM?
A: Repay your loan before February 6, 2024, at 9:00 AM UTC. Unpaid balances will trigger forced repayment using available collateral.
Final Recommendations
With multiple deadlines across different product lines — from borrowing suspension to full delisting — proactive management is crucial.
Traders should:
- Close or hedge open WSM positions early
- Repay all margin loans involving WSM
- Review updated discount policies
- Download necessary data before systems finalize changes
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By staying informed and acting early, users can navigate these transitions smoothly while preserving capital and minimizing unintended risks.
OKX remains committed to delivering a secure, transparent, and efficient trading ecosystem — even as it adapts its offerings to meet changing market dynamics.