KuCoin Will Support the Cocos-BCX (COCOS) Token Swap to COMBO (COMBO)
05/18/2023, 22:14:31
Dear KuCoin Users,
KuCoin will support the Cocos-BCX (COCOS) token swap to COMBO (COMBO) and complete the token swap automatically for Cocos-BCX (COCOS) holders.
The arrangements for the token swap are as follows:
KuCoin Futures:
KuCoin Futures will provide a solution for the trading of the COCOS perpetual contract, and the details are as follows:
The COCOS/USDT perpetual contract will be delisted at 08:00 on May 25, 2023 (UTC). With the delisting of this contract, the open orders will be canceled, and the positions will be settled at the average mark price during the last 30 minutes before the delisting. If abnormal market fluctuations occur and the mark price is maliciously manipulated before the last 30 minutes of the delisting, KuCoin may adjust the settlement price to a reasonable level according to the actual situation.
The current funding rate at 08:00 (UTC) on the day of the delisting will be 0, and the settlement will not charge any funding or service fees.
The market may fluctuate sharply before the contract delisting. It is suggested that the users control risks by reducing the leverage or by closing positions in advance.
KuCoin Margin:
KuCoin will temporarily close the Margin services of COCOS. Meanwhile, to protect users’ assets, we strongly recommend that users cancel open orders, close positions, repay loans, and transfer the tokens from Isolated Margin accounts to other accounts in advance.
Details:
1. At 07:00:00 on May 19, 2023 (UTC), the borrowing service of COCOS will be closed.
2. At 07:00:00 on May 25, 2023 (UTC), the closure of the COCOS-USDT Margin trading service, and lending and borrowing services of COCOS, the function of transferring COCOS into the Isolated Margin accounts, and repayment of the loans will take place (the function of transferring COCOS out from Margin accounts is not affected). The Spot-Index of COCOS will be closed
If users have COCOS loans in their Margin accounts, the system will cancel all open orders of COCOS, activate the liquidation process to close the COCOS positions and repay COCOS loans.
For API users, please make sure you have canceled the subscription to the Index Price and Mark Price of COCOS.
* To avoid asset losses, controlling the debt ratio and transferring COCOS out of Margin accounts in advance is recommended!
KuCoin Trading Bot:
Futures Grid will automatically stop the running bots of COCOS/USDT at 07:45:00 on May 25, 2023 (UTC).
Spot Grid, Infinity Grid, Martingale, DCA, and Smart Rebalance will automatically stop the running bots of COCOS/USDT at 09:45:00 on May 29, 2023 (UTC).
KuCoin Spot:
The deposit and withdrawal services will be suspended at 08:00:00 on May 29, 2023 (UTC).
The trading service for COCOS will be closed at 10:00:00 on May 29, 2023 (UTC).
KuCoin will convert COCOS into COMBO at a ratio of 1:1 (1 COCOS = 1 COMBO).
KuCoin will take a snapshot of the users' COCOS balances as of 10:00:00 on May 29, 2023 (UTC).
Note:
1. COCOS tokens in pending deposit or withdrawal after closing the deposit or withdrawal services will not be counted towards your COCOS balance.
2. After the swap’s completion, the COCOS token will no longer be supported on KuCoin.
For further information on the token swap, please refer to:
COMBO Rebranding: Introducing Updated ERC-20 and BEP-20 Smart Contracts
Related follow-ups to this subject will be announced separately as soon as possible.
Thanks for your support!
The KuCoin Team
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