The Margin Services of BOND, POLS Will Be Temporarily Closed!
17/07/2024 18:19:09
Dear KuCoin Users,
KuCoin will temporarily close the Margin services of BarnBridge (BOND), Polkastarter (POLS).
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 Margin account to other accounts in advance. (POLS including Cross Margin and Isolated Margin)
At 02:00:00 on July 22, 2024 (UTC), the Margin trading, lending, and borrowing services of the BOND/USDT, POLS/USDT tokens' will be closed. Additionally, the transferring functions for the Margin account related to BOND, POLS, as well as loan repayment, will also be closed. (The function of transferring BOND, POLS out from Margin accounts will not be affected)
If users have BOND, POLS loans in their Margin accounts, the system will cancel all open orders of BOND, POLS, initiate the liquidation process to close the BOND, POLS positions, and repay the loans. Subsequently, it will transfer all POLS in the Cross Margin account and all assets of the Isolated Margin accounts of BOND/USDT, POLS/USDT left behind to the Main account.
Notes:
1. Please transfer the POLS 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. For API users, please make sure you have canceled the subscription to the Index Price and Mark Price of BOND, POLS.
3. If the price of BOND, POLS fluctuates sharply, the delisting process may be initiated in advance. To avoid asset losses, it is recommended to control the debt ratio and transfer BOND, POLS out from 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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