The cryptocurrency trading landscape is constantly evolving, and users need timely, accurate updates to manage their positions effectively. In response to community feedback and market conditions, OKX has announced a postponement in the delisting schedule for the WSM/USDT margin trading pair and WSMUSDT perpetual futures. This adjustment aims to give traders more time to adjust their strategies and close or reposition open trades responsibly.
This article provides a detailed breakdown of the updated timeline, implications for margin and futures traders, changes to fee discounts, and essential actions users must take before delisting occurs.
Updated Delisting Schedule for WSM Products
OKX has revised its original plan to delist WSM-related trading products. While the platform remains committed to maintaining a high-quality asset listing standard, it recognizes the importance of providing sufficient notice and flexibility for users managing exposure to WSM.
Perpetual Futures Trading
Traders involved in perpetual futures contracts should note the following updated timeline:
- Futures Pair: WSMUSDT
- Revised Delisting Time: 8:00–9:00 AM UTC on February 22, 2024
During this one-hour window, all open positions in WSMUSDT perpetual futures will be automatically closed. The system will execute forced liquidations if necessary, based on prevailing market prices. Traders are strongly advised to manually close positions ahead of this period to maintain control over exit pricing and avoid slippage.
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Margin Trading Adjustments for WSM/USDT
In addition to futures, OKX will also delist the WSM/USDT margin trading pair. The updated schedule includes two critical milestones:
- Cease Borrowing Feature: 6:00 AM UTC on February 1, 2024
- Full Delisting Time: 9:00 AM UTC on February 22, 2024
After the first milestone, users will no longer be able to borrow USDT or WSM against this pair. However, existing borrows and collateral will remain active until full delisting.
At the final delisting time, OKX will:
- Suspend all margin trading activities for WSM/USDT
- Disable flexible loan services for this pair
- Cancel any open margin orders
- Initiate forced repayment for outstanding balances
Each delisting process will take approximately one hour per trading pair. Users must repay all borrowed assets and withdraw collateral before the deadline to avoid automatic liquidation.
Key Actions Required for WSM Holders
To prevent unexpected losses or forced repayments, users currently holding WSM positions in margin or futures accounts should take immediate action:
- Review Open Positions: Check your account dashboard for any open trades involving WSM/USDT or WSMUSDT.
- Close Positions Early: Manually close positions before the delisting window to avoid execution at potentially unfavorable prices.
- Repay Borrowings: Ensure all borrowed amounts are repaid before 9:00 AM UTC on February 22, 2024.
- Withdraw Collateral: Remove any WSM or USDT used as collateral after repaying debts.
- Monitor Account Alerts: Enable notifications within the OKX app to receive real-time updates.
Failure to act may result in forced liquidation, which could lead to significant financial loss—especially during periods of high volatility.
Changes to Fee Discount Structure for WSM
As part of the delisting preparation, OKX has also adjusted the fee discount policy for WSM holdings. This impacts users who previously enjoyed reduced trading fees based on their WSM balance.
| Crypto | Previous Tier (USD) | Previous Discount Rate | New Tier (USD) | New Discount Rate |
|---|---|---|---|---|
| WSM | 0–50,000 | 0.5% | 0 | 0% |
| >50,000 | 0% |
As shown above, the fee discount for WSM has been completely removed. Users who held WSM to benefit from lower trading fees should consider alternative strategies or switch to other supported tokens that offer tiered discount programs.
This change reflects OKX’s broader effort to align incentives with actively traded, sustainable digital assets.
Why Is OKX Delisting WSM?
While OKX does not always disclose specific reasons for delisting, common factors include:
- Low trading volume over an extended period
- Lack of project development or community engagement
- Non-compliance with listing standards or transparency requirements
- Risk management considerations for user protection
Delisting is not necessarily a reflection of fraud or illegitimacy but rather a routine part of maintaining a healthy, dynamic trading ecosystem.
Platforms like OKX regularly review listed assets to ensure they meet performance, security, and compliance benchmarks. Assets that fail to meet these criteria may be phased out to protect traders and optimize platform efficiency.
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Frequently Asked Questions (FAQ)
Q: Why was the delisting of WSM postponed?
A: While OKX hasn't specified the exact reason, delays in delisting often occur to allow users more time to respond, especially when market conditions are volatile or user feedback indicates operational risks.
Q: What happens if I don’t close my WSM position before delisting?
A: If you have open positions or outstanding loans at the time of delisting, OKX will forcibly close them. This can lead to unfavorable execution prices and potential losses due to market volatility.
Q: Can I still trade WSM after February 22, 2024?
A: No. After 9:00 AM UTC on February 22, 2024, both margin trading and perpetual futures for WSM will be fully disabled on OKX.
Q: Will WSM be relisted in the future?
A: Relisting depends on the project team meeting OKX’s current standards for liquidity, transparency, and compliance. There is no guarantee of relisting at this time.
Q: Are spot trading pairs affected by this announcement?
A: This notice specifically addresses margin trading pairs and perpetual futures. Any impact on spot trading would be communicated separately.
Q: How can I avoid forced liquidation?
A: Repay all borrowed funds and close open positions before the delisting time. Monitor your health ratio closely in the days leading up to February 22.
Final Thoughts and Recommendations
The upcoming delisting of WSM margin and futures products marks a critical deadline for affected traders. With borrowing already suspended and full delisting imminent, now is the time to act.
Whether you're holding long positions, managing leveraged trades, or relying on fee discounts, understanding the timeline and taking proactive steps can help preserve capital and reduce risk.
As always, staying informed is key. Use trusted platforms and tools to monitor your portfolio and respond quickly to market developments.
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By planning ahead and acting early, traders can navigate delisting events smoothly and continue building resilient strategies in the ever-changing crypto market.