Announcement on the Trading of SRM/USDT Perpetual Contract on KuCoin Futures

Announcement on the Trading of SRM/USDT Perpetual Contract on KuCoin Futures

14/11/2022, 11:55:18

Dear KuCoin Futures Users,

KuCoin Futures provides a solution for the trading of SRM perpetual contract, and the details are as follows:

The SRM/USDT perpetual contract will be delisted at 04:30 on November 15, 2022 (UTC). 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 thereby 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 04:30 on the day of delisting will be 0, and the settlement will not charge any funding fees 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.

Trading Bot will remove the SRM/USDT Futures Grid trading pair, and stop the running bots at the same time.

Risk Warning: Futures trading is a high-risk activity with the potential for huge gains and huge losses. Previous gains do not indicate future returns. Severe price fluctuations may result in the forced liquidation of your entire margin balance. This information should not be regarded as investment advice from KuCoin. All trading is done at your own discretion and at your own risk. KuCoin is not liable for any losses resulting from Futures trading.

Thank you for your support!

The KuCoin Futures Team

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