KuCoin Futures Will Delist the FXSUSDT Perpetual Contract(01-05)

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Dear KuCoin Futures Users,

Due to the brand upgrade of Frax Share(FXS), which will be renamed as Frax (FRAX),KuCoin Futures will delist the FXSUSDT perpetual contract at 07:00 on January 05, 2026 (UTC).

The arrangements for the delisting are as follows:

Starting from 06:50 on January 05, 2025 (UTC), opening new positions in the FXSUSDT contract will be suspended, while closing positions will remain unaffected.
The FXSUSDT perpetual contract will be delisted at 07:00 on January 05, 2025 (UTC). With the delisting of this contract, the open orders will be canceled, and the positions will be settled at the average index price during the last 30 minutes before the delisting. It is recommended that users close position in advance to avoid unnecessary losses.

Updated Mark Price Mechanism Before Delisting

To enhance fairness and stability during the delisting process, KuCoin Futures has updated the mark price mechanism for the final 30 minutes prior to delisting:

Mark Price = Average Index Price (calculated every second)
- Example for a 14:00 delisting:
  - 06:35 mark price = average index price from 06:30 to 06:35
  - 06:59 mark price = average index price from 06:30 to 06:59

180-Second Smooth Transition Mechanism
- Starting from 06:30, the system will smoothly transition from the original mark price formula to the new average-based mark price over a 180-second window to avoid sudden mark price jumps.
  - Mark Price = β * (New Mark Price Formula) (1 − β) * (Old Mark Price Formula)

If abnormal market fluctuations occur and the index price is found to be maliciously manipulated, KuCoin Futures may undertake additional protective measures without further announcement, including but not limited to adjusting the maximum leverage value, position value, and maintenance margin in each margin tier, updating funding rates such as the interest rate, premium and capped funding rate, changing the constituents of the index price.

The market may fluctuate sharply before the contract delisting. It is suggested that users control risks by reducing the leverage or by closing positions in advance.

Thanks for your understanding and support!

The KuCoin Futures Team

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 your own risk. KuCoin is not liable for any losses resulting from Futures trading.

Thank you for your support!

The KuCoin Team

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