The Cross Margin Services of JST, SUN, and NFT Will Be Temporarily Closed!
02/19/2024, 18:11:39
Dear KuCoin Users,
KuCoin will temporarily close the Cross Margin services of JST, SUN, and NFT.
Meanwhile, to protect users’ assets, we strongly recommend that users cancel open orders, close positions, repay loans, and transfer the afore-mentioned tokens from the Cross Margin account to other accounts in advance.
1. At 07:00:00 on February 27, 2024 (UTC), the Cross Margin trading, lending, and borrowing services of the JST/USDT token will be closed. Additionally, the transferring functions for the Cross Margin account related to JST, as well as loan repayment, will also be closed. (The function of transferring JST out from Cross Margin accounts will not be affected)
2. At 07:00:00 on February 28, 2024 (UTC), the Cross Margin trading, lending, and borrowing services of the SUN/USDT and NFT/USDT tokens will be closed. Additionally, the transferring functions for the Cross Margin account related to SUN and NFT, as well as loan repayment, will also be closed. (The function of transferring SUN and NFT out from Cross Margin accounts will not be affected)
If users have JST, SUN, or NFT loans in their Cross Margin accounts, the system will cancel all open orders of the affected tokens, initiate the liquidation process to close the affected tokens’ positions, and repay the loans. Subsequently, it will transfer all JST, SUN, and NFT assets left behind in the Cross Margin account to the Main account.
Notes:
1. Please transfer your JST, SUN, and NFT assets out from your Cross Margin account in time to avoid affecting the debt ratio of your Cross Margin position, which may result in liquidation.
2. If the price of JST, SUN, and NFT fluctuates sharply, the delisting process may be initiated in advance. To avoid asset losses, it is recommended to control the debt ratio and transfer your remaining JST, SUN, and NFT assets out from your Cross 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 understanding and support!
The KuCoin Team
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