To enhance market liquidity and optimize user experience, OKX will delist SRM from perpetual contracts, margin trading, and savings products. Below are the key details:
1. Perpetual Contract Trading Delisting
| Perpetual Swap | Delisting Time (UTC) |
|----------------|----------------------|
| SRMUSDT | November 14, 2022, 08:00 AM |
Key Actions:
- All open SRMUSDT perpetual swap positions will be automatically delivered at the arithmetic average price of the OKX index 1 hour before delisting.
- Funding rates will reset to 0 at delisting; no fees will apply for the final billing cycle.
- Order books will be cleared post-delisting.
⚠️ Risk Advisory:
Due to potential pre-delisting volatility, users are advised to:
- Reduce leverage exposure.
- Close positions early to mitigate risks.
Post-Delisting Restrictions:
- Accounts holding >$10,000 in SRMUSDT positions at delivery will face 30-minute withdrawal restrictions.
- Historical trade data remains accessible via OKX’s Report Center.
2. Margin Trading Changes
Timeline:
- November 13, 2022, 3:00 PM UTC: SRM borrowing disabled.
November 14, 2022, 9:00 AM UTC:
- SRM margin trading halted.
- All open orders canceled.
- Forced repayments triggered for unpaid loans.
- November 15, 2022, 2:00 AM UTC: Deadline for repaying SRM/BTC loans.
📌 Note: Extreme price fluctuations are likely. Close SRM positions proactively to avoid forced liquidation losses.
3. Savings Product Updates
- SRM savings subscriptions will pause once borrowing closes.
- All redeemed SRM savings will transfer automatically to users’ funding accounts.
4. Discount Rate Adjustments
| Asset | Tier (USD) | Previous Discount Rate | New Discount Rate |
|-------|------------|------------------------|-------------------|
| SRM | 0–250K | 0.8 | 0 |
| | 250K–500K | 0.7 | |
| | 500K–1M | 0.5 | |
| | >1M | 0 | |
👉 Learn more about OKX’s margin policies
FAQs
Q1: Why is OKX delisting SRM products?
To improve platform liquidity and align with market demand, OKX periodically reviews and optimizes listed assets.
Q2: What happens to my open SRM perpetual contracts?
Positions will be settled at the index price 1 hour before delisting. Pending orders will be canceled.
Q3: Can I withdraw SRM immediately after delisting?
Yes, except for accounts with >$10,000 positions at delivery—these face a 30-minute withdrawal hold.
Q4: How does the discount rate change affect my margin?
SRM’s margin value is now calculated at a 0% discount, reducing its collateral weight in cross-margin accounts.
Q5: Will SRM savings earn interest after delisting?
No. Subscriptions stop at delisting, and balances auto-redeem to funding accounts.
For further assistance, contact OKX support or visit the Help Center.