OKX ondersteunt de FTM-tokenmigratie

According to the official plan of Fantom, the Fantom (FTM) token will be undergoing a token migration and will be upgraded to Sonic (S).

OKX will support FTM migration to S as per the following schedule:

1. Deposits and withdrawals

• FTM deposits and withdrawals will be suspended at 3:30 am UTC on January 13, 2025, and deposits will no longer be supported after the token migration is complete.

• The schedule for S deposits and withdrawals will be announced separately.

2. Trading instruments

2.1 Margin trading

Margin trading and flexible loans

FTM borrowing feature will cease at 12:00 pm on January 2, 2025.

OKX will suspend margin trading and flexible loans between 8:00 am and 10:00 am UTC on January 6, 2025 and open orders for margin will be canceled.

Users with borrowings or collateral of the above crypto pairs in margin trading and flexible loans should make sure to repay before the delisting times. A forced payment will be triggered if unpaid borrowings remain due by the delisting time.

Please note: Prices may experience extreme fluctuations. To avoid losses caused by forced repayment, we recommend you stop trading the pairs listed above and close all underlying positions in advance.

Adjustment of discount

An adjustment to the discount of the FTM token will be made between 8:00 am and 10:00 am UTC on January 6, 2025.

Before:

After:

Discount rates overview

In multi-currency cross margin mode, different currencies in cross margin accounts can be converted into their USD value and used as margin. Due to significant differences in market liquidity of each currency, our platform calculates the actual USD value of certain crypto based on certain discount rates to balance market risks.

Learn more: https://www.okx.com/trade-market/discountrate

Risk Warning: Due to market volatility, we will gradually reduce the discount rate to 0 for the above mentioned tokens. During this period, the maintenance margin rate for users using the above tokens as collateral may increase. To prevent forced liquidation due to such discount adjustments, we advise users to manage risk in a timely manner by closing positions, reducing positions, or adding margin.

2.2 Perpetual futures

OKX will delist FTMUSDT perpetual futures and terminate any related orders at 8:00 am UTC on January 7, 2025. Relevant orders in the order book will also be canceled after the delisting.

OKX will deliver all the above-mentioned perpetual futures positions at the arithmetic average price of the corresponding OKX index timed 1 hour before the delisting. If the index price displays abnormalities in the hour preceding the delisting, OKX may adjust the final delivery price to a reasonable level for delivery.

The current funding rate at 8:00 am UTC on the day of delisting will be 0. Thus, funding fees for this period will not be included in the billing record.

Considering that the market may fluctuate sharply before the delisting, please manage your risk level by reducing the actual leverage multiples or closing positions in advance.

Within the first 30 minutes after the delisting, if you hold positions greater than 10,000 USD in value in the above-mentioned perpetual contracts at the time of delivery, you will be restricted from transferring assets out of your trading account.

Asset transfers will return to normal after 30 minutes. Order history and billing records will still be available after the delisting. If you need to back up your data, you may download it through the report center on the OKX website.

In order to ensure the successful delivery of the above-mentioned perpetual futures during the delisting, the following adjustments are made to our risk control parameters:

Adjustment of price limit rules: If there is a deviation from the contract price before then, the price limit will be adjusted according to market conditions.

2.3 Spot trading

OKX will delist FTM/USDT and FTM/USDC spot trading pairs and terminate any related orders between 3:00 am and 3:30 am UTC on January 13, 2025. All other trading services (such as Convert, P2P Express, Copy trading, and Trading bots) will also be suspended.

Please cancel all orders before 3:00 am UTC on January 13, 2025. Our system will cancel any outstanding orders after this time.

At the time of delisting, orders placed by trading bots for the above-mentioned pairs will be canceled, and bots will be stopped. Any related pairs or positions will be sold or closed at the market price at that time.

3. Token migration

• At 4:00 pm UTC on January 13, 2025, an account snapshot on the user’s funding account will be performed, and the user’s FTM holdings will be converted into S at a 1:1 ratio. A separate announcement will be made once the migration is complete. Related assets in the trading account will be transferred to the funding account for the snapshot.

• At the time of the snapshot, any FTM tokens that are being withdrawn or yet to be deposited successfully will not be included in the migration.

• Holdings under 1 FTM will not be included in the migration.

• The token migration is expected to take 1 - 3 days. During this period, your FTM valuation will be unavailable. Once the migration is complete, all your FTM will be converted to S, and FTM will no longer be shown in your asset list.

Risk warning: The foregoing overview and information, some of which may be provided by third parties and not OKX, are for informational and educational purposes only. OKX does not guarantee the accuracy or completeness of any information contained herein and such information does not constitute any representation, warranty or any financial, investment or other form of advice by OKX. Such information may not be suitable for all persons; it should not be relied upon in connection with a particular investor's trading; and, is not intended to be, nor should be construed as, an offer, recommendation or solicitation. Such information is also not intended for persons who reside in jurisdictions where providing such information would violate the laws or regulations of such jurisdiction. Digital assets are highly speculative and subject to high volatility, may become illiquid at any time, and that investors may lose the entire value of their investment. Before trading any digital asset, you should do your own research and evaluate your risk appetite. OKX is not responsible for any losses which you may incur from trading digital assets. Please refer to Terms of Service and Risk & Compliance Disclosure for more information.

For any inquiries, please feel free to contact us via the support center or connect with us on any platform of your choice.

OKX team
December 31, 2024