As part of its ongoing commitment to risk management and user protection, OKX has announced the delisting of ZKJ-related trading pairs across multiple product lines. This includes the termination of ZKJ/USDT perpetual contracts, leveraged trading, and flexible lending services. These changes are designed to maintain platform stability, especially amid volatile market conditions.
If you're currently holding positions or using ZKJ as collateral, this update is critical for your risk planning. Below is a detailed breakdown of the timeline, implications, and recommended actions.
Perpetual Contract Termination
The ZKJUSDT perpetual contract will be officially delisted on April 30, 2025, at 4:00 PM (UTC+8). After this time:
- All open orders will be canceled automatically.
- Trading for this pair will cease permanently.
- All outstanding positions will be settled via forced delivery.
Settlement Price Calculation
The final settlement price will be based on the arithmetic average of the OKX index price over the hour preceding delisting. However, if abnormal price manipulation is detected during that window, OKX reserves the right to adjust the final price to a fair market value.
Note: No funding fees will be charged during the final funding interval (which ends at 4:00 PM), and there will be no delivery fees or additional costs during the forced settlement.
👉 Stay ahead of contract expirations with real-time alerts and advanced risk tools.
Risk Management for Users
Given that price volatility often increases ahead of delistings, users are strongly advised to:
- Reduce leverage exposure
- Close positions manually before the deadline
- Avoid reliance on automated settlement
Users with positions valued over $10,000 USD at settlement will face a temporary restriction on asset transfers for 30 minutes post-delivery. This measure helps prevent systemic risks during high-impact operations.
Historical order records and billing statements will remain accessible after delisting. For full data retention, users should download their transaction history via the desktop Order Center before the contract expires.
Adjustments to Risk Control Parameters
To ensure a smooth wind-down of trading activity, OKX will implement dynamic risk controls in the lead-up to delisting.
Price Limit Mechanism
If significant price deviations occur, OKX may adjust the price limit rules based on real-time market conditions. This prevents flash crashes or artificial pumps that could unfairly impact users during the final trading phase.
These adjustments aim to protect both long and short position holders by maintaining fair price discovery until the very end.
Leveraged Trading and Flexible Lending Suspension
In parallel with the perpetual contract termination, OKX is also phasing out leveraged trading and borrowing services for ZKJ/USDT.
| Service | Action | Timing |
|---|---|---|
| Borrowing Function | Disabled | April 28, 2025, 11:10 AM (UTC+8) |
| Trading & Lending Delisting | Fully suspended | April 29, 2025, 5:00–7:00 PM (UTC+8) |
During this two-hour window:
- All active market orders will be canceled.
- Leveraged positions must be closed manually.
- Any outstanding borrowed assets must be repaid before delisting begins.
Failure to repay borrowed ZKJ or USDT by the cutoff time will trigger automatic forced repayment, which may result in unexpected losses due to unfavorable execution prices.
💡 Pro Tip: Always monitor your loan-to-value (LTV) ratio when holding leveraged positions near delisting events.
Collateral Discount Rate Adjustment for ZKJ
One of the most impactful changes involves the gradual reduction of ZKJ’s discount rate to zero in cross-margin accounts.
What Is a Discount Rate?
In cross-margin mode, users can use various cryptocurrencies as collateral. However, not all assets carry equal weight. The discount rate reflects how much a given asset’s value is reduced when calculating usable margin—factoring in liquidity, volatility, and market depth.
For example:
- A coin with a 0.8 discount rate contributes only 80% of its market value toward margin.
- A highly volatile or illiquid asset may have a much lower rate—or eventually zero.
ZKJ Discount Rate Schedule
Before Adjustment:
- Tier 1 (up to 6,000 ZKJ): 0.8
- Tier 2 (6,001–10,000): 0.7
- Tier 3 (10,001–16,000): 0.65
- Tier 4+: Decreases by 0.05 per tier (each +10,000 ZKJ)
After Adjustment:
OKX will now begin reducing these tiers incrementally until the effective discount rate reaches 0.
This means:
- ZKJ will no longer count toward margin requirements.
- Positions relying on ZKJ as collateral may face higher maintenance margin ratios.
- Increased risk of forced liquidation if alternative collateral isn’t added.
👉 Maximize your margin efficiency with diversified collateral options and smart risk monitoring.
Frequently Asked Questions (FAQ)
❓ Why is OKX delisting ZKJ trading pairs?
OKX regularly reviews listed assets and derivative products to manage risk and ensure platform integrity. Delisting decisions are based on factors like trading volume, liquidity, market stability, and compliance with internal risk frameworks.
❓ What happens if I don’t close my position before delisting?
Unsettled perpetual contract positions will be automatically delivered using the pre-defined index average price. For leveraged trades, failure to repay borrowed funds may lead to forced repayment at market rates, potentially resulting in losses.
❓ Can I still withdraw ZKJ after delisting?
Yes. Delisting from trading pairs does not affect deposit or withdrawal functions unless separately announced. Users can still transfer ZKJ to external wallets unless protocol-level changes occur.
❓ Will ZKJ be completely removed from OKX?
At this stage, only perpetual contracts, leveraged trading, and lending are being discontinued. Spot trading may remain active unless further notices are issued. Always check official announcements for updates.
❓ How do I protect my account from liquidation during discount rate changes?
Monitor your account’s health factor closely. Consider:
- Repaying loans early
- Adding stablecoins or high-discount-rate assets as collateral
- Reducing overall leverage
Using tools like margin calculators and liquidation price trackers can help you stay safe.
❓ Where can I find historical trade records after delisting?
All past orders and financial statements related to ZKJ trading will remain available in your account dashboard. Download them via the Order History section on the desktop platform for long-term recordkeeping.
Final Recommendations
Market adjustments like delistings are inevitable in the fast-moving crypto space. Whether you're a casual trader or managing complex leveraged portfolios, staying informed is key to protecting your capital.
Here’s what you should do now:
- Check your open positions and loans involving ZKJ.
- Repay any borrowed amounts before April 29.
- Close or hedge leveraged trades ahead of the April 30 deadline.
- Replace ZKJ collateral with more stable assets if using cross-margin.
- Download transaction history for audit or tax purposes.
Platforms like OKX continuously evolve their offerings to prioritize user safety and market fairness. While change can be disruptive, it often leads to a more resilient trading environment.
👉 Access advanced trading tools and real-time risk analytics to navigate delistings confidently.
By proactively managing your exposure and understanding how platform policies affect your holdings, you can trade with greater confidence—even during transitions. Stay alert, stay prepared, and always plan for volatility.