Starting from April 29, 2025 (UTC+8), OKX will gradually implement adjustments to the coin discount rate tiers under its cross-margin mode and portfolio margin mode. The changes are scheduled to be completed by May 9, 2025 (UTC+8), with the primary goal of enhancing risk management and ensuring platform stability during periods of high market volatility.
This update involves modifying the discount rate step size for various cryptocurrencies, resulting in broader tier intervals and reduced overall collateral valuation discounts. The number of discount tiers may also be reduced across supported assets.
👉 Discover how these changes impact your margin strategy and learn how to adapt quickly.
Understanding the Discount Rate Tier Adjustment
In cross-margin and portfolio margin trading, a coin’s discount rate determines how much of its value can be used as effective collateral. A higher discount means lower collateral utility—for example, a 30% discount on a $100 holding makes only $70 usable toward margin requirements.
Previously, many coins used a 0.01 step size, meaning each tier decreased the discount rate by just 1%. Under the new framework, step sizes will increase—some to 0.03, others to 0.05—leading to steeper reductions in collateral value per tier.
Example: How Discount Tiers Are Changing
Take Coin X as a representative case:
Before Adjustment (Step Size: 0.01)
- At 120 million units: 85% valuation (15% discount)
- Each additional tier increases holdings by 120 million units and reduces valuation by 1%, until reaching 0% at Tier 85.
After Adjustment (Step Size: 0.03)
- Initial tier remains unchanged: 85% at 120 million units
- However, each subsequent tier now reduces valuation by 3 percentage points, accelerating the devaluation curve.
- By Tier 10 (1.09 billion units), valuation drops to 55%, compared to 75% previously—a significant difference in usable collateral.
This structural shift means users holding large quantities of certain tokens may see a faster decline in collateral efficiency, especially beyond mid-tier thresholds.
Phased Implementation Schedule
To minimize market disruption, OKX will roll out these changes in two phases:
Phase 1: April 30, 2025 | 14:00 – 18:00 (UTC+8)
The following coins will see their discount rate step size increased from 0.01 to 0.05:
- RVN (Ravencoin)
- LSK (Lisk)
- NFT (Bondly)
- ZEUS (Zeus Network)
Phase 2: May 6, 2025 | 14:00 – 18:00 (UTC+8)
Adjustments for additional assets:
- Step size increased from 0.01 to 0.05:
AIDOGE, ETHW, LAT, XCH, OM, GLMR - Step size increased from 0.01 to 0.03:
EOS
These phased updates allow traders time to monitor impacts, adjust positions, and avoid unexpected liquidations due to sudden changes in effective leverage.
Why Is OKX Making This Change?
The decision stems from evolving market risk dynamics and the need for more robust collateral valuation frameworks. As crypto markets grow in scale and complexity, fine-grained discount tiers with small steps (e.g., 0.01) become operationally inefficient and potentially misleading.
By increasing step sizes:
- Risk models become more resilient during sharp price swings
- Collateral calculations are simplified and more transparent
- System performance improves under high-load conditions
- Platform-wide margin health is strengthened
Additionally, fewer tiers reduce complexity for both users and backend systems, promoting clearer understanding of margin status.
👉 Stay ahead of margin changes—simulate your portfolio’s performance under new rules today.
Impact on Your Trading Strategy
Traders using high-leverage positions or holding large volumes of affected coins should take immediate action:
Key Risks to Consider
- Reduced Collateral Value: Larger step downs mean faster erosion of usable equity.
- Higher Effective Leverage: As collateral shrinks, your actual leverage increases—even if position size stays constant.
- Increased Liquidation Risk: Positions that were previously safe may become vulnerable under tighter margin conditions.
Recommended Risk Mitigation Steps
- Monitor Portfolio Health: Regularly check your effective leverage and margin ratio.
- Reduce Exposure: Close or scale back high-risk positions before adjustments take effect.
- Add Stable Collateral: Consider depositing stablecoins or highly liquid assets with consistent valuation.
- Use Stop-Loss Orders: Protect against sudden downside moves during transition windows.
- Rebalance Holdings: Shift large concentrations of affected coins into other assets with favorable discount terms.
Frequently Asked Questions (FAQ)
Q: What is a coin discount rate in margin trading?
A: It's the percentage reduction applied to a cryptocurrency’s market value when used as collateral. For instance, a 20% discount means only 80% of the coin’s value counts toward covering margin requirements.
Q: Does this affect all trading modes?
A: No. These changes apply only to cross-margin mode and portfolio margin mode. Isolated margin accounts are not impacted.
Q: Will my open positions be automatically liquidated?
A: Not directly. However, if your adjusted collateral value causes your margin ratio to fall below maintenance levels, liquidation may occur. Proactive management is essential.
Q: Can I still use affected coins as collateral?
A: Yes. All listed coins remain eligible for use as collateral, but their valuation will follow the new tiered structure with larger discount steps.
Q: How can I check updated discount tiers for my assets?
A: Visit the official OKX margin rules page or use the trading interface’s collateral calculator tool to view real-time valuations post-adjustment.
Q: Are future changes expected?
A: OKX continuously evaluates market conditions and may adjust parameters further to maintain system integrity. Users are encouraged to stay informed through official announcements.
Final Thoughts and Recommendations
While this adjustment aims to strengthen platform resilience, it also demands greater awareness from active traders. The shift from granular to broader discount steps reflects industry trends toward conservative risk modeling—especially amid growing institutional participation and regulatory scrutiny.
You should treat this update not just as a policy change, but as an opportunity to refine your risk management practices.
By proactively adjusting your portfolio ahead of full implementation, you can maintain control over your leverage, avoid forced exits, and trade with greater confidence through market cycles.
OKX remains committed to delivering secure, transparent, and user-focused innovations in digital asset trading. Stay alert, stay informed, and trade responsibly.