KuCoin Margin Delisting of COTI
02/24/2021, 19:18:26
Dear KuCoin Users,
To ensure that users enjoy the best Margin trading experience in the KuCoin Margin market, KuCoin will delist the COTI/USDT trading pair from the Margin market. To protect your account rights, please cancel orders, repay coins, close positions, and transfer COTI to other accounts as soon as possible.
Lending and borrowing services have been suspended. The KuCoin Lending Market no longer supports the borrowing and lending services of COTI. Meanwhile, COTI auto-borrowing will be unavailable, though the interest will continue to count after the due day, so please repay the COTI on time
At 10:00 on March 5, 2021 (UTC) KuCoin will close COTI/USDT Margin trading and the function of transferring COTI assets to the Margin account. Please repay the currency in time. If the user still has COTI debt, the system will activate the liquidation function for repayment. (Regardless of whether the borrowing is due or not).
Notes:
1. Since KuCoin Margin uses the cross margin model, the COTI assets in your Margin account will still be calculated as the principal after the COTI/USDT trading pair is delisted. In the case of extreme market conditions, there may be a risk of negative balance. In order to better protect users' account assets, please transfer COTI from the Margin account on time or close the relevant positions and repay the COTI debt on time.
2. If COTI assets can not be transferred out or the position can not be closed after the COTI/USDT trading pair is delisted, please transfer other assets to the Margin account for repayment and closing positions.
*There will be no impact on the Spot market.
We greatly appreciate your support!
The KuCoin Team
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