In a strategic move to enhance market liquidity and elevate the overall user experience, OKX has announced the delisting of several WSM-related trading instruments, including perpetual futures and margin trading pairs. This decision reflects OKX’s ongoing commitment to maintaining a healthy, efficient trading environment by streamlining underperforming assets and reducing potential risks for traders.
The changes will take effect in early February 2024 and involve adjustments across multiple product lines. Traders are advised to review their positions and take necessary actions ahead of the delisting deadlines.
Perpetual Futures Delisting Schedule
Starting on February 6, 2024, OKX will officially delist the WSMUSDT perpetual futures contract. The delisting window is scheduled between 8:00 AM and 9:00 AM UTC.
During this period:
- All open orders related to WSMUSDT perpetual futures will be automatically canceled.
- Active positions will be settled using the arithmetic average price of the corresponding OKX index, calculated over the one hour preceding delisting.
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Final Settlement Price & Abnormal Market Conditions
To ensure fair settlement:
- If the index price shows abnormal behavior during the final hour, OKX reserves the right to adjust the delivery price to a more reasonable level.
- The funding rate at 8:00 AM UTC on the day of delisting will be set to 0%, meaning no funding fees will be charged or credited during that cycle.
Risk Management Recommendations
Given the potential for increased volatility leading up to delisting, traders are strongly encouraged to:
- Reduce leverage exposure
- Close positions proactively
- Avoid holding large positions near the cutoff time
For users holding WSMUSDT perpetual positions valued over $10,000 USD at settlement:
- A 30-minute withdrawal restriction will be enforced immediately after delisting.
- Asset transfers will resume normally after this brief holding period.
Historical data—including order records and billing statements—will remain accessible via the Report Center on the OKX platform. Users are advised to download any required transaction history before or shortly after delisting for compliance and record-keeping purposes.
Adjustments to Risk Control Parameters
To support a smooth delisting process and maintain market integrity, OKX will implement temporary adjustments to its price limit rules for the affected perpetual contracts.
Price Limit Calculation Overview
The system uses dynamic price bands based on the underlying index and recent premium levels:
Standard Rules
First 10 minutes after contract creation:
- Upper bound:
Index × (1 + X) - Lower bound:
Index × (1 – X)
- Upper bound:
After 10 minutes:
- Upper bound:
Min[Max(Index, Index × (1 + Y) + Avg Premium), Index × (1 + Z)] - Lower bound:
Max[Min(Index, Index × (1 – Y) + Avg Premium), Index × (1 – Z)]
- Upper bound:
Adjusted Values Before Delivery
| Time Before Delivery | X | Y | Z |
|---|---|---|---|
| 48 hours | 2% | 2% | 5% |
| 30 minutes | 1% | 1% | 2% |
Note: In cases of significant price deviation or market stress, OKX may further fine-tune these limits to reflect real-time conditions.
These tightening measures aim to prevent excessive speculation and protect users from sudden slippage or liquidation events during the wind-down phase.
Margin Trading Pair Delisting
In parallel with futures delisting, OKX will also phase out margin trading support for WSM/USDT.
| Trading Pair | Borrowing Suspension | Full Delisting |
|---|---|---|
| WSM/USDT | February 1, 2024, 6:00 AM UTC | February 6, 2024, 9:00 AM UTC |
Key implications:
- The ability to borrow WSM or USDT against this pair will cease on February 1.
Full delisting occurs five days later, at which point:
- All open margin orders will be canceled.
- Margin trading and flexible loan services for WSM/USDT will terminate.
- Each delisting process may take approximately one hour to complete across systems.
Users with outstanding loans or collateral tied to WSM must:
- Repay debts before the full delisting time.
- Withdraw or reassign collateral in a timely manner.
Failure to act may result in forced repayment, which could lead to unexpected losses—especially if market prices fluctuate sharply.
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Discount Rate Adjustment for WSM
As part of broader risk management practices, OKX has updated the discount rate applied to WSM when used as collateral in multi-currency cross-margin accounts.
Updated Discount Structure
| Asset | Tier (USD) | Previous Discount Rate | New Discount Rate |
|---|---|---|---|
| WSM | 0–50,000 | 0.5 | 0 |
| >50,000 | 0 | 0 |
This means WSM will no longer provide any margin value in cross-margin mode. The change takes effect immediately and aligns with the reduced liquidity and trading activity surrounding the token.
Why discount rates matter: In cross-margin accounts, cryptocurrencies are converted into USD equivalents for margin calculation. However, due to varying levels of market depth and volatility, less liquid assets like WSM are assigned lower discount rates to mitigate platform risk.
For more information on how discount rates work across supported assets, visit the official documentation portal.
Frequently Asked Questions (FAQ)
Q: What happens to my open WSMUSDT perpetual position after delisting?
A: All open positions will be automatically settled at the arithmetic average price of the OKX index one hour before delisting. No further trading or funding will occur after that point.
Q: Can I still withdraw funds immediately after delisting?
A: If your delivered position exceeds $10,000 USD in value, withdrawals from your trading account will be locked for 30 minutes post-delisting. After this window, normal operations resume.
Q: Do I need to manually close my margin position in WSM/USDT?
A: Yes. Open margin orders will be canceled upon delisting, but any outstanding borrowings must be repaid by the user before the deadline to avoid forced repayment.
Q: Why is OKX removing WSM from multiple trading products?
A: This decision is driven by efforts to improve market efficiency and reduce risks associated with low-liquidity assets. It supports a safer, more sustainable trading ecosystem.
Q: Will I lose access to my historical trade data after delisting?
A: No. Order history, billing records, and transaction logs remain available through the Report Center on the OKX website.
Q: Is there a chance the delisting timeline could change?
A: While current dates are final, OKX reserves the right to make operational adjustments under extraordinary market conditions. Users should monitor official announcements for updates.
Final Thoughts
The upcoming delisting of WSM perpetual futures and margin pairs marks a routine but important step in OKX’s platform optimization strategy. By focusing on high-quality, liquid assets, OKX ensures better pricing accuracy, tighter spreads, and improved risk controls for all users.
Traders should use this transition period wisely—review open exposures, manage leverage responsibly, and stay informed about upcoming changes.
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By acting early and staying engaged with platform developments, users can maintain control over their portfolios and continue trading with confidence—even during periods of change.