Effective risk management is a core principle for any trading platform. To uphold this standard and ensure a positive user experience, exchanges periodically review and delist certain perpetual contracts. This announcement covers the specific delisting schedule and procedures for the VRAUSDT and MEMEFIUSDT contracts.
Delisting Schedule and Details
The following perpetual contracts will be officially delisted according to the timeline below.
| Contract Symbol | Delisting Time (UTC+8) |
|---|---|
| VRAUSDT | 8:00 AM, May 13, 2025 |
| MEMEFIUSDT | 8:00 AM, May 13, 2025 |
Key Steps in the Delisting Process
The delisting process involves several important steps to ensure an orderly and fair closure for all open positions.
- Trading Halt: At the specified delisting time, trading for these contracts will be permanently disabled.
- Order Cancellation: All pending user orders for these contracts will be automatically canceled.
- Settlement Price: All open user positions will be settled (closed) automatically. The settlement price will be the arithmetic average of the index price taken over the hour immediately preceding the delisting time.
- Price Fairness: In the event of abnormal manipulation or irregularity of the index price during that final hour, the platform reserves the right to adjust the final settlement price to a fair and reasonable level.
Fees and Charges at Settlement
Understanding the financial implications of this automatic settlement is crucial for users.
- The funding rate for the period ending at 8:00 AM on the delisting day will be set to zero.
- Consequently, no funding fees will be paid or received for this final period, and this transaction will not appear in billing records.
- The settlement process itself will not incur any additional closing or transaction fees.
Important Risk Warning for Users
Market conditions can become highly volatile in the lead-up to a contract's delisting. This volatility can significantly increase the risk of liquidation for leveraged positions.
Users holding positions in these contracts are strongly advised to proactively manage their risk. You can do this by either closing your positions manually before the delisting time or by significantly reducing your leverage to mitigate potential losses.
Post-Delisting Account Impact
A temporary security measure will be applied to certain accounts following the delisting:
- Users whose position value at the time of settlement exceeds $10,000 will have all asset transfers within their trading account temporarily restricted.
- This restriction is a security precaution and will be automatically lifted after 30 minutes.
Accessing Historical Records
Your historical order and billing records for these delisted perpetual contracts will remain accessible for review after the delisting. If you wish to download and keep a permanent backup of this data, it is recommended you do so promptly via the order center on the desktop platform.
Adjustments to Risk Control Parameters
To ensure a smooth and orderly delisting process, the platform may make discretionary adjustments to the risk control parameters—such as price limit rules—for these specific contracts based on prevailing market conditions. This is a standard procedure to maintain market integrity during the transition.
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Frequently Asked Questions
What happens to my open VRAUSDT position at delisting?
Your open position will be automatically closed at the official settlement price, which is based on the index average from the hour before delisting. The funds from the settlement will be returned to your account balance.
Will I be charged any fees when my position is settled?
No, you will not be charged any funding fees or额外的结算手续费。最终资金费率周期设置为零，结算过程本身是免费的。
Why are my account transfers restricted after delisting?
This is a temporary security measure applied automatically to accounts with larger settled positions (over $10,000). The restriction lasts only 30 minutes and is designed to protect account assets immediately following a major market event.
Can I still see my past trade history for MEMEFIUSDT after it's delisted?
Yes, your historical order and transaction records will remain visible in your account. However, for long-term safekeeping, you should download them from the desktop order center, as access cannot be guaranteed indefinitely.
What should I do if I still want exposure to VRA or MEMEFI?
After the perpetual contracts are delisted, you may explore other investment avenues for these assets, such as spot trading on supported markets, if available. Always conduct your own research before making any investment decisions.
How is the final settlement price protected from manipulation?
The platform uses a robust index price to calculate the average. Furthermore, it actively monitors for any market abuse and reserves the right to adjust the final price to a fair value if manipulation is suspected in the final hour.