The Cross Margin Services of XMR Will Be Temporarily Closed!
02/06/2024, 16:36:25
Dear KuCoin Users,
KuCoin will temporarily close the Cross Margin services of XMR.
Meanwhile, to protect users’ assets, we strongly recommend that users cancel open orders, close positions, repay loans, and transfer the afore-mentioned token from the Cross Margin account to other accounts in advance.
At 07:00:00 on February 19, 2024 (UTC), the Cross Margin trading, lending, and borrowing services of the XMR/BTC and XMR/USDT tokens will be closed. Additionally, the transferring functions for the Cross Margin account related to XMR, as well as loan repayment, will also be closed. (The function of transferring XMR out from Cross Margin accounts will not be affected)
If users have XMR loans in their Cross Margin accounts, the system will cancel all open orders of XMR, initiate the liquidation process to close the XMR positions, and repay the loans. Subsequently, it will transfer all XMR in the Cross Margin account left behind to the Main account.
The components in the Margin Spot Index of XMR will be changed. For API users, please make sure you have canceled the subscription to the Index Price and Mark Price as follows:
| Exchange | Components to be Removed |
| Binance | XMR/BTC |
Notes:
1. Please transfer the XMR 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 XMR fluctuates sharply, the delisting process may be initiated in advance. To avoid asset losses, it is recommended to control the debt ratio and transfer XMR 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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