Margin Services of ANC, MIR Temporarily Closed
Dear KuCoin Users,
To enhance users’ experience in Margin, KuCoin will temporarily close the Margin services of ANC, MIR.
Meanwhile, to protect users’ assets, we strongly recommend that users cancel open orders, close positions, repay loans and transfer ANC, MIR from Cross Margin account and Isolated Margin account to other accounts in advance.
Details:
1. The borrowing services of ANC, MIR and the closure of the function of transferring ANC, MIR into the Cross Margin account or the Isolated Margin account have temporarily closed (the function of transferring ANC, MIR out from Margin accounts is not affected).
2. At 15:00:00 on May 13, 2022 (UTC), the closure of ANC/USDT, MIR/USDT Margin trading services, ANC, MIR lending and borrowing services, and repayment of the loans will take place. If users have ANC, MIR loans or ANC, MIR assets in Margin accounts, the system will cancel all open orders of ANC, MIR, activate the liquidation process to close the positions, and repay all loans before transferring all ANC, MIR in the Cross Margin account and all assets of ANC/USDT, MIR/USDT Isolated Margin accounts left out to the Main account.
*If prices of MIR and ANC fluctuate sharply, the delisting process may be initiated in advance. To avoid asset losses, it is recommended to control the debt ratio and transfer ANC and MIR assets 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