OKX, a prominent player in the cryptocurrency exchange arena, has made a strategic decision to delist several trading pairs in a bid to uphold a robust and secure spot trading ecosystem. This development aligns with OKX’s unwavering commitment to ensuring the quality and regulatory compliance of the assets available on its platform.
Following meticulous evaluation and adherence to the OKX Token Delisting / Hiding Guideline, several trading pairs falling short of the exchange’s rigorous listing criteria will soon be eliminated. The trading pairs which are delisted include, KOL/USDT, GM/USDT, SRM/USDT, SRM/USDC, UMEE/USDT, VALUE/USDT, MITH/USDT, JFI/USDT, and SOS/USDT.
To understand the reasons behind the delisting of these tokens, we can take a look at the guideline, which states: “OKX may, in its sole discretion and pursuant to the OKX Terms of Service, determine to immediately delist any digital asset from its trading platform or temporarily suspend its trading. Decisions to delist or suspend trading of any digital asset may be due to various circumstances, including factors outside OKX’s control.”
Delisting Strategy for Select Trading Pairs
The execution of this delisting process is scheduled to occur between 8:00 and 8:30 a.m. UTC on October 16, 2023. OKX has advised all users who currently have active orders tied to the aforementioned trading pairs to cancel them ahead of the delisting date. Failing to do so will trigger an automated cancellation process, which may take between 1 and 3 working days to complete.
Post-delisting, users can conveniently locate their assets under the “Assets” tab, nestled within the “Funding” section under the “Untradable Assets” category. To facilitate a seamless transition, OKX took the initiative to suspend token deposits for KOL, GM, SRM, UMEE, VALUE, MITH, JFI, and SOS as of 8:00 a.m. UTC on October 5, 2023. Users are strongly urged to proactively manage their assets, considering the imminent delisting.
After the completion of the delisting procedure, these tokens will be readily accessible within the “Assets” tab under “Funding,” specifically categorized as “Untradable Assets.” In addition to the deposit suspension, token withdrawals for KOL, GM, SRM, UMEE, VALUE, MITH, JFI, and SOS will undergo a temporary suspension starting at 8:00 a.m. UTC on December 16, 2023. OKX has encouraged its users to plan their asset management strategies with this withdrawal suspension in mind.
OKX underscores its unwavering dedication to fostering a secure and user-centric trading environment. The exchange remains committed to diligently monitoring all listed trading pairs and stands prepared to implement delisting or hiding measures when deemed necessary, all in pursuit of delivering the optimal trading experience to its users. As the cryptocurrency landscape continues to evolve, the exchange remains steadfast in its mission to provide traders with a platform they can trust.
Source: https://blockchainreporter.net/okx-delists-kol-gm-srm-and-more-trading-pairs-to-strengthen-spot-trading-environment/