KuCoin Pre-Market Update: Closure & Delivery Schedule for Initia (INIT)
04/23/2025, 19:27:02
We trust you've been relishing the Pre-Market Trading experience of Initia (INIT) on KuCoin. As we approach the conclusion of the INIT trading session, we would like to inform you about the upcoming schedule:
Important Time & Date:
INIT Deposit already open
Pre-Market Closure: 11:00 on April 24, 2025 (UTC)
Spot Trading Time: 11:00 on April 24, 2025 (UTC)
Settlement Opens: 11:00 on April 24, 2025 (UTC)
Settlement Closure: 15:00 on April 24, 2025 (UTC)
Failure to complete the delivery can result in the loss of the collateral. All pending INIT will be canceled after that, and funds will be returned to their original source.
Important Notes for Token Delivery:
1. The token delivery is automatic and will be processed through balances of participant’s KuCoin Trading Account.
2. Sellers must have required INIT tokens in the KuCoin Trading Account before April 24 2025 15:00 UTC for delivery.
3. Once the INIT tokens are fully delivered, sellers will receive payment in the KuCoin Trading Account. Sellers who fail to complete the delivery by the time of settlement will result in the loss of the collateral.
4. The system will continuously attempt to fulfill deliveries and thus the delivery time may extend. Please be patient if the delivery is not immediately processed. The delivered INIT tokens or the USDT collateral paid by the seller in default will be credited to the buyer's trading account.
5. There is a 5% fee imposed on the seller's collateral if the seller fails to deliver at settlement time. The remaining 95% will be compensated to the buyer.
Token Delivery Method:
Deposit
1. Deposit INIT Tokens from external sources to ensure you have the accurate deposit address.
2. Transfer the required INIT tokens to your Spot Trading account before the designated delivery time.
Purchase from Spot Market
1. If you have yet to secure the required INIT tokens, you can purchase the necessary amount in the Spot Market.
2. After purchasing, transfer the INIT tokens to your Spot Trading Account and await the scheduled delivery time.
Note:
1. INIT Tokens purchased from the pre-market cannot be used for settlement.
2. INIT Tokens present in any other account (e.g., Funding account) will not be considered for delivery.
If you encounter any challenges or have questions about the delivery process, please do not hesitate to reach out to our dedicated support team. You may also refer to Pre-Market User Agreement for terms of use.
Thanks for your support!
The KuCoin Team
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