KuCoin Cross Margin Services Will Delist Multiple Tokens

Dear KuCoin Users,

KuCoin will delist the Cross Margin Trading Services for MEME and LPT.

To protect users' assets, we strongly recommend that you cancel open orders, close positions, repay loans, and transfer the aforementioned tokens from your Cross Margin account to other accounts in advance (Cross Margin).

During this period, the Cross Margin trading, lending, and borrowing services for the tokens will be closed. Additionally, the transfer functions for the Cross Margin account related to those tokens, as well as loan repayment, will also be suspended. (The function of transferring out from Margin accounts will not be affected.)

If you have related loans in your Cross Margin accounts, the system will cancel all open orders for the related tokens, initiate the liquidation process to close the related tokens positions, and repay the loans. 

Subsequently, it will transfer all the in the related assets in Cross Margin account and all assets of the Isolated Margin accounts for related tokens to the main account, the system will verify the current Cross Margin Account's debt ratio and take the following actions:

Scenario 1: Debt Ratio <= 85% After Transfer

• Through the transfer verification, if the delisted token calculates the debt ratio after transfer <=85%, the system will directly transfer the delisted assets out of the Margin Account.

Scenario 2: Debt Ratio > 85% After Transfer

• Through the transfer verification, if the account debt ratio of the delisted token is > 85% after the delisted token is calculated, the system will force liquidation of the assets, convert the remaining delisted assets into USDT and retain them in the user's Margin Account.

Learn more the latest Cross-Margin delisting process

*KuCoin Trading Bot will delist the Margin Grid of these related tokens. Users are advised to shut down the running Margin Grid bot before the time above. If the user fails to close the bot before the time above, the system will automatically shut down the relevant trading bot for the user.

Notes:

1. For API users, please ensure you have canceled your subscription to the Index Price and Mark Price of the related tokens.

2. Existing positions in tokens will significantly affect the cost of delisting. During the designated time, users will not be able to perform any operations related to their positions. Please manage your positions in advance to avoid any unexpected losses.

3. If the price fluctuates sharply, the delisting process may be initiated earlier. To avoid asset losses, it is recommended to control the debt ratio and transfer the related tokens out of 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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