Margin Services of KOK Temporarily Closed
10/25/2023, 18:06:16
Dear KuCoin Users,
KuCoin will temporarily close the Margin services of KOK.
Meanwhile, to protect users’ assets, we strongly recommend that users cancel open orders, close positions, repay loans and transfer the tokens above from Margin account to other accounts in advance.
Details:
At 07:00:00 on Nov 3, 2023 (UTC), the closure of KOK-USDT Margin trading services, lending and borrowing services of KOK, the function of transferring KOK into the Margin account, and repayment of the loans will take place (the function of transferring KOK out from Margin accounts is not affected) .
If users have KOK loans in their Margin accounts, the system will cancel all open orders of KOK, activate the liquidation process to close the KOK positions and repay the loans before transferring all assets of the Isolated Margin accounts of KOK-USDT left out to the Main account.
For API users, please make sure you have canceled the subscription to the Index Price and Mark Price of KOK.
*If price of KOK fluctuates sharply, the delisting process may be initiated in advance. To avoid asset losses, it is recommended to control the debt ratio and transfer KOK out from Margin accounts in advance!
Risk Warning: Margin trading refers to the practice of borrowing funds with a relatively lower amount of capital to trade financial assets and obtain bigger profits. However, due to market risks, price fluctuations, and other factors, you are strongly recommended to be prudent about your investment actions, adopt an appropriate leverage level for margin trading, and properly stop your losses in a timely manner. KuCoin assumes no responsibility for any losses arising from the trade.
We apologize for any inconvenience caused and appreciate your patience.
Thanks for your support!
The KuCoin Team
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