OKX Updates HMSTR Pre-market Futures Delivery for Sept 26

OKX has exciting news for its users regarding the upcoming HMSTR token. The exchange has announced that pre-market futures for HMSTR will be delivered after the token is officially listed for spot trading on September 26, 2024. While the exact timeline will be shared later, here’s what to know so far.

Three hours following the listing of the HMSTR token on the spot market, the delivery of pre-market contracts is scheduled. The delivery cost will be determined between two and three hours after the token’s listing.

In case the schedule for listings gets altered, we’ll make sure the delivery of contracts is appropriately modified. Users will be informed about any updates via OKX announcements.

OKX Updates HMSTR Pre-market Futures Delivery for Sept 26

Concerning the cost for delivery, OKX intends to utilize an index price that combines data from multiple well-known exchanges. The final delivery cost will be calculated as the average of the OKX index price, taken one hour before delivery. In cases of significant price volatility, OKX reserves the right to adjust this price to maintain a fair transaction.

It’s important to note that if users hold more than $10,000 worth of HMSTRUSDT futures contracts at delivery time, users won’t be able to transfer assets from their trading account for 30 minutes after delivery. 

Asset transfers will return to normal after this period, and users can still access their order history and billing records. If needed, users can download this data from the Order Center on the OKX website.

With the market likely to fluctuate before delivery, OKX advises users to manage their risk by reducing leverage or closing positions in advance. If there’s an overloss during delivery, OKX will cover losses using its insurance fund. Should the fund fall short, the system will automatically reduce positions for users with high profits.

Settlement fees are set at 1%, but this may be adjusted as needed. Additionally, price limits will be in place for pre-market contracts, with the highest buy price and lowest sell price determined by recent average prices. These limits will tighten in the hour before delivery to keep trading within a controlled range.

After generating contracts in the pre-market, the highest price for buy orders is set at 15% above the average mid-price from the past hour, while the lowest price for sell orders is set at 15% below that same average. In the final 60 minutes before delivery, the highest buy price is capped at 5% above the Index Price, and the lowest sell price is 5% below it. The mid-price, which is the average of the best bid and ask prices, is recalculated every minute to determine these limits.

Read More

Sorry. No data so far.

2024-09-03 15:33