Margin Services of FTT, SRM Temporarily Closed
Dear KuCoin Users,
KuCoin will temporarily close the Margin services of FTT, SRM.
Meanwhile, to protect users’ assets, we strongly recommend that users cancel open orders, close positions, repay loans and transfer the tokens above from Cross Margin account and Isolated Margin account to other accounts in advance.
1. The borrowing services of FTT, SRM have temporarily closed.
2. At 07:00:00 on November 15, 2022 (UTC), the closure of FTT-USDT, SRM-USDT Margin trading services, lending and borrowing services of FTT, SRM, the function of transferring FTT, SRM into the Cross Margin account or the Isolated Margin account , and repayment of the loans will take place (the function of transferring FTT, SRM out from Margin accounts is not affected) .
If users have the loans or the assets of FTT, SRM in Margin accounts, the system will cancel all open orders of FTT, SRM, activate the liquidation process to close the positions, and repay all loans before transferring all of FTT, SRM in the Cross Margin account and all assets of the Isolated Margin accounts of FTT-USDT, SRM-USDT left out to the Main account.
*If price of FTT, SRM fluctuate sharply, the delisting process may be initiated in advance. To avoid asset losses, it is recommended to control the debt ratio and transfer FTT, SRM out from 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 support!
The KuCoin Team
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