The cryptocurrency landscape is constantly evolving, and exchanges must adapt to ensure optimal performance, security, and user experience. As part of this ongoing optimization, OKX has announced the full delisting of TORN trading pairs across multiple trading services. This strategic move aligns with the exchange’s Token Delisting and Hiding Guidelines, user feedback, and efforts to enhance overall liquidity and platform efficiency.
This comprehensive update covers all aspects of the delisting process—including spot trading, margin trading, perpetual contracts, and Savings products—to ensure users are fully informed and can take timely action to protect their assets.
Spot Trading: Cessation of TORN Pairs
Starting 10:00 AM UTC on September 27, 2022, OKX will officially remove and cease spot trading for all TORN trading pairs. At this time:
- All active TORN spot orders will be automatically canceled.
- Trading functionality for TORN pairs will be disabled across the platform.
Users are strongly advised to review their open orders and manage positions in advance. Delaying action could result in unintended execution risks or missed opportunities to secure profits or limit losses.
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Margin Trading: Borrowing Already Halted
The margin trading functionality for TORN has already undergone partial suspension:
- As of 9:00 AM UTC on September 21, 2022, users can no longer borrow TORN through the margin system.
Further actions will occur on September 27, 2022:
- Margin trading for all TORN pairs will cease at 2:00 AM UTC.
- All pending TORN margin orders will be canceled.
- A forced repayment mechanism will be triggered at the same time.
⚠️ Important Reminder: Users with outstanding TORN borrowings must repay their debts before 2:00 AM UTC on September 27, 2022. Failure to do so may result in automatic liquidation or forced repayment at unfavorable rates, especially given the potential for high volatility.
To minimize risk, OKX recommends closing all leveraged TORN positions well in advance of the deadline.
Perpetual Contracts: Smooth Exit Strategy
To prevent market disruptions during the transition period, OKX will delist the TORNUSDT perpetual swap contract on September 26, 2022, at 8:00 AM UTC.
Key details:
- Trading will be suspended at delisting time.
- All open TORNUSDT perpetual positions will be settled using the arithmetic average price of the OKX index over the one hour preceding delisting.
- If index price anomalies occur during this window, OKX reserves the right to adjust the final settlement price to a fair and reasonable level.
Funding Rate Adjustment
On the day of delisting, the funding rate at 8:00 AM UTC will be set to 0%. No funding fees will be recorded for that cycle.
Risk Control and Post-Delisting Restrictions
Given the potential for sharp price movements before delisting, users are encouraged to:
- Reduce leverage
- Close positions early
- Monitor account health closely
Additionally:
- Users holding TORN/USDT perpetual positions valued over $10,000 at settlement time will face a 30-minute withdrawal freeze from their Trading Account post-delisting.
- After this brief restriction, full access will be restored.
All historical order records and transaction bills remain accessible after delisting. Users are advised to download relevant data via the Report Center on the OKX web platform for personal record-keeping.
Enhanced Risk Parameters Before Delisting
To maintain market stability during the final hours of trading, OKX has implemented temporary adjustments to price limit rules for the TORNUSDT perpetual contract.
These changes aim to prevent excessive volatility and ensure fair pricing:
48 hours before delivery (8:00 AM UTC, September 24):
Price deviation limits adjusted to:
- X = 2%
- Y = 2%
- Z = 5%
30 minutes before delivery (7:30 AM UTC, September 26):
Tightened further to:
- X = 1%
- Y = 1%
- Z = 2%
These dynamic limits help mitigate price manipulation and slippage during critical periods. OKX may make additional real-time adjustments if market conditions warrant.
Savings Product: Automatic Redemption
The OKX Savings program for TORN is also being phased out as part of this delisting initiative.
Here’s what users need to know:
- The borrowing function for TORN has already been disabled.
- Subscription to TORN Savings is now suspended.
Upon completion of the margin trading shutdown, the system will:
- Automatically redeem all held TORN assets
- Transfer redeemed funds to users’ Funding Accounts
This ensures that users regain control of their assets without delay. No manual redemption is required, but users should verify receipt in their Funding Account after the process completes.
Frequently Asked Questions (FAQ)
Q: Why is OKX delisting TORN trading pairs?
A: The delisting follows OKX's established Token Delisting/Hiding Guidelines and is based on project performance, liquidity considerations, and user feedback. It aims to maintain a high-quality trading environment.
Q: What happens if I don’t close my margin position before the deadline?
A: If you have an open TORN margin position or outstanding loan after 2:00 AM UTC on September 27, 2022, your position will be force-closed and your loan forcibly repaid, which may lead to financial loss.
Q: How is the final price calculated for perpetual contracts?
A: The settlement price is based on the arithmetic average of the OKX index during the hour before delisting (8:00 AM UTC, September 26). Abnormalities may prompt manual adjustments for fairness.
Q: Will I lose my TORN assets in Savings?
A: No. Your assets will be automatically redeemed and sent to your Funding Account. You retain full ownership—just ensure you know where your funds are transferred.
Q: Can I still view my past trades after delisting?
A: Yes. All historical orders, bills, and transaction records remain accessible through your account dashboard and the Report Center.
Q: Is there customer support available for questions about this change?
A: Yes. You can contact OKX Support via the official Support Center or through the OKX Telegram group for assistance.
Final Notes and Recommendations
The delisting of TORN from OKX’s spot, margin, perpetual, and Savings platforms marks a structured exit designed to protect users while maintaining market integrity. With clear timelines and proactive risk controls in place, OKX ensures a transparent and orderly transition.
Core keywords naturally integrated throughout this article include:
OKX, TORN delisting, perpetual contracts, margin trading, spot trading, crypto Savings, forced repayment, and risk control parameters.
Users are urged to act promptly:
- Close open positions
- Repay any borrowings
- Download transaction history
- Monitor account changes
By staying informed and responsive, traders can navigate delisting events smoothly and continue building resilient crypto portfolios.
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