The cryptocurrency landscape is constantly evolving, and exchanges must adapt to maintain high standards of security, liquidity, and user experience. As part of this ongoing optimization, OKX has announced the full delisting of TORN trading pairs across multiple product lines — including spot trading, margin trading, perpetual contracts, and savings services.
This decision follows the OKX Token Delisting / Hiding Guideline and takes into account user feedback and market dynamics. The move aims to enhance platform efficiency and ensure a safer, more stable trading environment for all users.
Below is a detailed breakdown of the delisting timeline and what affected users need to know.
Spot Trading: Final Cutoff on September 27
OKX will officially cease spot trading for all TORN pairs at 10:00 AM UTC on September 27, 2022. At that moment:
- All active TORN orders will be automatically canceled.
- No new trades involving TORN will be processed.
- Users are strongly advised to close any open positions or withdraw assets before the deadline.
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This phase ensures a clean exit from spot markets while minimizing disruption. Traders should monitor their portfolios closely in the final hours leading up to delisting, as volatility may increase.
Margin Trading: Borrowing Already Suspended
The margin trading functionality for TORN has already undergone partial suspension:
- Borrowing for TORN pairs was disabled at 9:00 AM UTC on September 21, 2022.
Going forward:
- Margin trading for TORN pairs will be fully terminated at 2:00 AM UTC on September 27, 2022.
- All pending orders will be canceled at that time.
- A forced repayment will be triggered simultaneously.
Important: Repay Before the Deadline
Users who still hold TORN borrowings must repay their debts before 2:00 AM UTC on September 27. Failure to do so may result in automatic liquidation or forced repayment at unfavorable rates.
Note: Given the potential for extreme price swings during this transition period, OKX strongly recommends closing all leveraged positions early to avoid unexpected losses.
Perpetual Contracts: Delivery and Settlement Details
To prevent complications arising from price volatility during the TORN network migration, OKX will delist the TORNUSDT perpetual swap contract.
Key Timeline:
- Trading halt: 8:00 AM UTC on September 26, 2022
- All open orders on the order book will be canceled upon delisting.
Position Delivery Mechanism
All outstanding TORNUSDT perpetual swap positions will be settled using the arithmetic average price of the OKX index during the one hour preceding delisting (i.e., from 7:00 AM to 8:00 AM UTC).
In case of index price anomalies in that window, OKX reserves the right to adjust the final settlement price to a fair and reasonable level.
Funding Rate Adjustment
The funding rate at the time of delisting (8:00 AM UTC) will be set to 0%, and no funding fees will be recorded for that cycle.
Risk Advisory for Traders
"Considering that the market may fluctuate sharply before the contract delisting, users are advised to practice risk–control measures by reducing the actual leverage multiples or closing positions in advance."
This warning underscores the importance of proactive risk management. High leverage increases exposure during uncertain transitions like delistings.
Asset Transfer Restrictions After Delisting
For risk mitigation purposes, OKX will impose temporary withdrawal restrictions:
- Within 30 minutes after delisting, users holding TORNUSDT perpetual contract positions valued at over $10,000 will be unable to transfer assets out of their Trading Account.
- These restrictions will be lifted automatically after the 30-minute window closes.
Historical data — including order records and transaction bills — will remain accessible post-delisting. Users are encouraged to download necessary reports via the Report Center on the web interface before they lose access.
Risk Parameter Adjustments for Smooth Settlement
To ensure orderly delivery and minimize slippage or manipulation risks, OKX has adjusted the price limit rules for the TORNUSDT perpetual contract in the final 48 hours before delisting.
Updated Price Limit Rules
During specific time windows, the upper and lower price limits are dynamically calculated based on the index price and recent premium averages. The parameters X, Y, and Z control volatility thresholds:
At 8:00 AM UTC on September 24 (48 hours before delivery):
- X = 2%
- Y = 2%
- Z = 5%
At 7:30 AM UTC on September 26 (30 minutes before delivery):
- X = 1%
- Y = 1%
- Z = 2%
These tightening controls help stabilize pricing as the contract approaches settlement. If significant deviations occur earlier, OKX may make real-time adjustments based on prevailing market conditions.
Savings Product: Automatic Redemption Coming
With borrowing already suspended, OKX will also discontinue the TORN Savings product.
Here’s what happens next:
- Subscription to TORN savings will be suspended.
- Once margin trading is fully offline, the system will automatically redeem all staked TORN assets.
- Redeemed funds will be transferred to your Funding Account.
This ensures users don’t lose access to their capital due to service discontinuation.
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Frequently Asked Questions (FAQ)
Q: Why is OKX delisting TORN?
A: The delisting aligns with OKX’s Token Delisting Guidelines and is driven by factors such as project liquidity, user feedback, and overall platform optimization goals.
Q: Can I still trade TORN after September 27?
A: No. All spot and margin trading for TORN pairs ends on September 27. Perpetual contracts end even earlier on September 26.
Q: What happens if I don’t repay my margin loan before delisting?
A: Unpaid balances will trigger forced repayment at 2:00 AM UTC on September 27. You risk liquidation or penalties due to volatile pricing.
Q: How are perpetual contract positions settled?
A: Positions are delivered at the average index price from 7:00–8:00 AM UTC on September 26. Abnormalities may lead to manual adjustments.
Q: Will I lose my savings if I don’t act?
A: No. Your TORN savings will be auto-redeemed and sent to your Funding Account. However, check your balance after the process completes.
Q: Where can I get support?
A: Contact OKX through the official Telegram group or Support Center for assistance.
Final Notes and Recommendations
Delistings are a normal part of exchange operations and reflect a commitment to maintaining high-quality asset offerings. While changes can cause short-term inconvenience, they ultimately support long-term platform health and user protection.
Key actions for users:
- Close open TORN positions early.
- Repay margin loans before deadlines.
- Download trading history if needed.
- Monitor account activity during restriction periods.
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By staying informed and acting proactively, traders can navigate delistings smoothly and continue building resilient portfolios in dynamic markets.