The cryptocurrency landscape is constantly evolving, and exchanges must adapt to ensure optimal performance, security, 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. This strategic decision follows the OKX Token Delisting / Hiding Guideline and incorporates user feedback to enhance liquidity management and platform efficiency.
Whether you're an active trader, margin user, or passive investor utilizing Savings, it’s crucial to understand the timeline, implications, and necessary actions related to this delisting.
Spot Trading: TORN Pairs Removal
OKX will officially remove all TORN spot trading pairs at 10:00 AM UTC on September 27, 2022. At this time:
- All open TORN orders will be automatically canceled.
- Trading functionality for TORN-based pairs will cease entirely.
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Traders are strongly advised to close any open positions and withdraw or reallocate their TORN holdings before the deadline. Failure to act may result in unexpected exposure during volatile market conditions.
Margin Trading: Borrowing Suspended and Positions Closed
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.
Further actions will take place on September 27, 2022:
- Margin trading for TORN pairs will be terminated at 2:00 AM UTC.
- All pending margin orders involving TORN will be canceled.
- A forced repayment will be triggered at the same time.
Important: Users with outstanding TORN borrowings must repay their debts before 2:00 AM UTC on September 27, 2022. Failure to do so may lead to automatic liquidation or forced repayment at unfavorable rates.
Given the potential for sharp price swings during the delisting phase, OKX strongly recommends that users exit positions early to minimize risk.
Perpetual Contracts: Delivery and Risk Controls
To ensure a smooth transition and protect traders from extreme volatility during the delisting process, OKX will delist the TORNUSDT perpetual swap at 8:00 AM UTC on September 26, 2022.
Key details:
- Trading will halt immediately upon delisting.
- All open orders on the order book will be canceled.
- Open positions will be delivered at the arithmetic average price of the OKX TORN index over the one hour preceding delisting.
In the event of index price anomalies during that final hour, OKX reserves the right to adjust the delivery price to a fair and reasonable level based on market data.
Additionally:
- The funding rate at the time of delisting will be set to 0, and no funding fees will be recorded.
- A temporary restriction on asset withdrawals will apply post-delisting.
Asset Withdrawal Freeze for Large Positions
Users holding TORNUSDT perpetual contract positions valued over $10,000 at delivery time will face a 30-minute freeze on asset transfers from their Trading Account immediately after delisting. This measure helps prevent systemic risks due to rapid capital movement during high volatility.
After the 30-minute window, transfer capabilities will be restored. Historical orders and transaction records remain accessible via the Report Center on OKX’s web platform. Users are encouraged to download relevant data for personal records before it becomes less accessible over time.
Risk Parameter Adjustments Before Delisting
To maintain market stability in the lead-up to delisting, OKX has implemented temporary adjustments to price limit rules for the TORNUSDT perpetual contract.
These changes are designed to reduce manipulation risks and ensure orderly trading during a sensitive period.
Updated Price Limit Rules
Starting 48 hours before delivery (8:00 AM UTC on September 24):
- Initial price cap (X): 2%
- Dynamic adjustment parameters (Y): 2%
- Maximum deviation (Z): 5%
Then, 30 minutes before delivery (7:30 AM UTC on September 26):
- X reduced to 1%
- Y reduced to 1%
- Z reduced to 2%
These tightening thresholds help narrow bid-ask spreads and limit excessive volatility as the contract approaches termination. The exchange may further adjust these values if significant price deviations occur.
Savings: Auto-Redemption of TORN Holdings
For users participating in the OKX Savings program, here's what you need to know:
- Once margin borrowing is disabled, new TORN savings subscriptions will be suspended.
- After margin trading goes offline, the system will automatically redeem all TORN assets held in Savings.
- Redeemed funds will be transferred to your Funding Account without manual intervention.
This ensures that users do not lose access to their assets due to service discontinuation. However, it also means you’ll no longer earn yield on TORN through OKX’s Savings products after delisting.
Why Is OKX Delisting TORN?
While OKX does not always disclose specific internal reasons for delistings, common factors include:
- Declining trading volume or liquidity
- Project-level developments (e.g., token migration, protocol changes)
- Community feedback and demand shifts
- Risk management considerations
Delistings are not necessarily negative reflections on a project but rather strategic moves to streamline offerings and focus on assets with stronger ecosystem engagement and trader interest.
Frequently Asked Questions (FAQ)
Q: Why is OKX delisting TORN?
A: The delisting aligns with OKX’s Token Delisting Guidelines and aims to improve platform efficiency, user experience, and liquidity concentration. It may also reflect shifts in market demand or project development.
Q: What happens to my open TORN spot orders?
A: All open spot orders will be canceled at 10:00 AM UTC on September 27, 2022. You should manually close or adjust positions before this time.
Q: Do I need to repay my margin loan in TORN?
A: Yes. Any outstanding borrowings must be repaid by 2:00 AM UTC on September 27, 2022. After that, forced repayment procedures will begin.
Q: How is the perpetual contract settlement price determined?
A: The final settlement price is the arithmetic average of the OKX TORN index price during the one hour before delisting (8:00 AM UTC on September 26).
Q: Will I lose my TORN assets in Savings?
A: No. Your assets will be automatically redeemed and sent to your Funding Account. You retain full ownership — they’re just no longer earning interest via Savings.
Q: Can I still trade TORN after delisting?
A: Not on OKX. However, other exchanges may continue listing TORN. Always verify availability on supported platforms.
Final Thoughts and Next Steps
The delisting of TORN across OKX’s major trading services marks a significant change for affected users. While such transitions can create short-term inconvenience, they often reflect broader efforts to maintain a healthy, responsive trading environment.
To protect your investments:
- Close open positions early.
- Repay any margin loans on time.
- Download historical data if needed.
- Monitor your Funding Account for auto-redemptions.
Crypto markets move fast — staying informed is your best defense against unexpected outcomes.