The Margin Services of QI & RPL Will Be Temporarily Closed!
11/04/2024, 14:56:02
Dear KuCoin Users,
KuCoin will temporarily close the Margin services for BENQI (QI) and Rocket Pool (RPL).
To protect users' assets, we strongly recommend that you cancel open orders, close positions, repay loans, and transfer the aforementioned tokens from your Margin account to other accounts in advance (QI includes both Cross Margin and Isolated Margin).
At 02:00:00 on November 8, 2024 (UTC), the Margin trading, lending, and borrowing services for the QI/USDT and RPL/USDT tokens will be closed. Additionally, the transfer functions for the Margin account related to QI and RPL, as well as loan repayment, will also be suspended. (The function of transferring QI and RPL out from Margin accounts will not be affected.)
If you have QI or RPL loans in your Margin accounts, the system will cancel all open orders for QI and RPL, initiate the liquidation process to close the QI and RPL positions, and repay the loans. Subsequently, it will transfer all QI in the Cross Margin account and all assets of the Isolated Margin accounts for QI/USDT and RPL/USDT to the main account.
Notes:
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Please transfer your QI assets out of your Cross Margin account in time to avoid affecting the debt ratio of your Cross Margin position, which may result in liquidation. Once the debt ratio reaches 85%, your Cross Margin position will face forced liquidation when QI is delisted.
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Existing positions in tokens will significantly affect the cost of delisting. During the designated time, users will not be able to perform any operations related to their positions. Please manage your positions in advance to avoid any unexpected losses.
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For API users, please ensure you have canceled your subscription to the Index Price and Mark Price of QI and RPL.
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If the price of QI or RPL fluctuates sharply, the delisting process may be initiated earlier. To avoid asset losses, it is recommended to control the debt ratio and transfer QI and RPL out of your 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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