OKX has announced a series of adjustments to the trading and delivery schedule for the DOGS (DOGS) token due to a change in its issuance timeline. Below are the updated timelines and essential details regarding spot trading and pre-market futures settlement.
Key Dates and Timeline
Please note the following important schedule changes:
- DOGS Deposits Open: August 14, 2024, at 16:00 UTC.
- DOGS Spot Trading Begins (DOGS/USDT): August 23, 2024, at 19:00 UTC.
- DOGS Withdrawals Open: August 24, 2024, at 17:00 UTC.
DOGS Token Project Introduction
The DOGS image is inspired by Spotty, a mascot created by TON founder Pavel Durov for the Telegram community, reflecting its unique spirit and culture.
- Asset Name: Dogs
- Ticker: DOGS
- Total Supply: 550,000,000,000
Pre-Market Futures Delivery for DOGS
OKX is pleased to announce the USDT-margined pre-market futures for DOGS, with delivery scheduled for August 22, 2024, at 19:00 UTC.
1. Delivery Time
Pre-market contracts are typically delivered 24 hours before the token is listed on the spot market. Should the listing time change, the contract delivery time will be adjusted accordingly. All changes will be communicated through official announcements.
2. Delivery Price
- The actual delivery price is calculated as the average of the index price taken every 200 milliseconds (ms) over the hour immediately preceding the delivery time.
- The index price is the latest pre-market trading price on OKX. This same index price is used to determine the final settlement price for the contract.
- OKX reserves the right to include prices from other exchanges as part of the index calculation.
Risk Reminder: Prices in the pre-market futures are determined by market behavior and are not necessarily an indicator of fair market value. These contracts are settled before the official listing, and the market can experience sharp fluctuations prior to delivery. Users must stay informed about market conditions, implement risk control measures, and trade carefully.
3. Settlement Fee
A settlement fee of 1% will be applied, though this rate is subject to change as announced by OKX.
4. Price Limits
To manage volatility, price limits are imposed on orders:
After the pre-market contract is created:
- Maximum Buy Order Price = 1-hour average mid price × (1 + 15%)
- Minimum Sell Order Price = 1-hour average mid price × (1 – 15%)
Within 60 minutes before delivery:
- Maximum Buy Order Price = 1-hour average mid price × (1 + 5%)
- Minimum Sell Order Price = 1-hour average mid price × (1 – 5%)
The mid price is calculated as (Highest Bid Price + Lowest Ask Price) / 2. These price limits are recalculated every minute.
Post-Delivery Process
Upon delivery, OKX will settle the futures contracts and halt all relevant trading activity. Any existing orders in the order book will be automatically canceled.
- Contract positions will be settled at the arithmetic average of the last traded price of the relevant contract from the hour before delivery.
- If trading prices are deemed abnormal in the hour before delivery, OKX may adjust the final delivery price to a reasonable level.
- For 30 minutes after delivery, users who held a position valued over $10,000 in the DOGSUSDT futures contract at the time of settlement will be unable to transfer assets out of their trading account. Asset transfers will resume normally after this 30-minute window.
- Order history and billing records will remain available post-delivery. Users can download this data via the Report Center on the OKX website.
Considering the potential for significant market fluctuations before delivery, users are strongly advised to manage their risk levels by reducing effective leverage multiples or closing positions in advance. For a deeper understanding of managing such market events, you can explore more strategies on advanced risk management.
Important Risk Disclaimer
The summaries and information provided here may originate from third-party sources and are for informational and educational purposes only. OKX does not guarantee the accuracy or completeness of this information, which should not be construed as a representation, warranty, or financial/investment advice of any kind. This information may not be suitable for all investors and is not an offer, recommendation, or solicitation to trade.
Digital assets are highly speculative, subject to extreme volatility, can become illiquid at any time, and investors may lose the entire value of their investment. You must conduct your own research and evaluate your risk tolerance before trading digital assets. OKX is not liable for any losses you may incur.
Frequently Asked Questions
What is the DOGS token?
DOGS is a token on The Open Network (TON), inspired by the Telegram community mascot. It represents a unique cultural symbol within the ecosystem, with a total supply of 550 billion tokens.
When can I start trading DOGS on OKX Spot?
Spot trading for the DOGS/USDT trading pair will officially commence on August 23, 2024, at 19:00 UTC. Ensure your deposits are completed beforehand.
How is the pre-market futures delivery price calculated?
The final delivery price is determined by taking the average of the index price (the latest OKX pre-market price) sampled every 200 milliseconds over the hour immediately preceding the delivery time.
Why can't I transfer assets after delivery?
To ensure a smooth settlement process, users with large positions (over $10,000 USD at delivery) are temporarily restricted from transferring assets out of their trading account for 30 minutes post-delivery. This is a standard risk management measure.
What happens to my open orders when the futures contract delivers?
All relevant open orders for the delivering contract will be automatically canceled by the system upon settlement. You will need to place new orders for the perpetual swap or spot market after the listing.
Where can I find my trading history after delivery?
Your complete order history and billing records remain accessible. You can download them at any time through the Report Center on the OKX website. View real-time tools for portfolio tracking and historical data analysis on our platform.