WalletConnect (WCT) is now available for spot trading on the OKX exchange. This guide covers all the essential details you need to know, from trading schedules and risk control rules to project information and deposit instructions.
Key Dates and Timeline
WCT/USDT spot trading officially begins on April 15, 2025. Here’s a detailed breakdown of the schedule (all times in UTC+8):
- Call Auction Period: April 15, 6:00 PM – 7:00 PM
- Spot Trading Launch: April 15, 7:00 PM
- Withdrawals Open: April 16, 7:00 PM
During the call auction phase, users can place orders at their desired prices before live trading begins. The system will process all orders to determine a reference opening price.
Trading Risk Controls
To protect traders from extreme volatility during the initial launch, OKX has implemented the following measures for the first 5 minutes after spot trading begins:
- Market orders are disabled
- Maximum order size: $10,000 per limit order
- Maximum net position: $10,000 per user
These restrictions will be automatically lifted after 5 minutes.
Price Limit Rules
OKX uses two types of pricing mechanisms to maintain market stability:
1. Closing Price-Based Limits
Applied when the index price is unavailable or unstable:
| Phase | Buy Order Max Price | Sell Order Min Price |
|---|---|---|
| First minute after launch | Call auction price × (1 + H) | No limit |
| Minutes 1–N (before index available) | Previous minute’s close × (1 + H) | No limit |
| After N minutes | No limit | No limit |
2. Index-Based Limits
Applied once a stable index price is established:
| Phase | Buy Order Max Price | Sell Order Min Price |
|---|---|---|
| First 10 minutes | Index × (1 + X) | Index × (1 – X) |
| After 10 minutes | Complex formula based on index and moving averages | Complex formula based on index and moving averages |
Note: Parameters (N, H, X, Y, Z) are subject to change without prior notice based on market conditions.
👉 View real-time trading rules and updates
Understanding the Call Auction
The WCT/USDT pair will begin with a 1-hour call auction period. This mechanism allows users to place orders in advance, contributing to a fair and transparent opening price.
Key rules during this phase:
- Maximum buy order value per user: $50,000
- Orders cannot be modified or canceled in the last 5 minutes
After the auction, OKX will use the project’s suggested opening price as the starting point for live trading. This price is based on the project’s valuation and is for reference only—it does not affect the price at which your orders are executed.
Project Overview: WalletConnect (WCT)
WalletConnect is a protocol that connects decentralized applications (dApps) with crypto wallets. It enables secure and seamless interactions between users, apps, and wallets across the Web3 ecosystem.
- Full Name: WalletConnect
- Ticker: WCT
- Total Supply: 1,000,000,000
- Contract Address: 0xeF4461891DfB3AC8572cCf7C794664A8DD927945
How to Prepare for Trading
To participate in WCT trading, make sure you have USDT available in your OKX spot wallet. You can deposit USDT at any time to ensure you’re ready when trading goes live.
OKX continues to improve its platform to offer users a secure, efficient, and user-friendly trading experience.
Frequently Asked Questions
Q: What is the call auction period?
A: The call auction is a pre-trading phase where users can place limit orders. These orders are used to determine a fair opening price once live trading begins.
Q: Can I use market orders as soon as WCT trading starts?
A: No. Market orders are disabled for the first 5 minutes after trading begins to reduce volatility and protect users.
Q: When can I withdraw WCT?
A: Withdrawals for WCT will be enabled on April 16, 2025, at 7:00 PM UTC+8.
Q: Where can I check the live price of WCT?
A: You can monitor real-time price movements and trading data directly on the OKX platform or through various market data providers.
Q: Are there any limits on how much I can buy during the call auction?
A: Yes. Each user may place buy orders totaling up to $50,000 during the call auction period.
Q: What happens if the index price isn’t available?
A: OKX will use a closing price-based limit mechanism until a stable index price is established.
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