The Margin Services of LIT, CELR Will Be Temporarily Closed!
07/10/2024 15:41:17
Dear KuCoin Users,
KuCoin will temporarily close the Margin services of Litentry (LIT) and Celer Network (CELR).
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 Isolated Margin account to other accounts in advance.
At 02:00:00 on October 14, 2024 (UTC), the Margin trading, lending, and borrowing services of the LIT/USDT, CELR/USDT tokens' will be closed. Additionally, the transferring functions for the Isolated Margin account related to LIT, CELR, as well as loan repayment, will also be closed. (The function of transferring LIT, CELR out from Margin accounts will not be affected)
If users have LIT, CELR loans in their Margin accounts, the system will cancel all open orders of LIT, CELR, initiate the liquidation process to close the LIT, CELR positions, and repay the loans. Subsequently, it will transfer all assets of the Isolated Margin accounts of LIT/USDT, CELR/USDT left behind to the Main account.
Notes:
1. For API users, please make sure you have canceled the subscription to the Index Price and Mark Price of LIT, CELR.
2. The existing positions of tokens will significantly affect the cost of delisting time. During the designated time, users will not be able to perform any operation to their relative position. Please manage your position relative to the tokens in advance to avoid any unexpected losses.
3. If the price of LIT, CELR fluctuates sharply, the delisting process may be initiated in advance. To avoid asset losses, it is recommended to control the debt ratio and transfer LIT, CELR 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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