Delisting of Illiquid Contracts

On 7 Jun 2024 at 12:00 UTC, we will delist the FETUSD perpetual swap contract. The contracts will be settled early at 12:00 UTC on 7 Jun 2024 ( “Tsettle”), according to the standard practice described in our Exchange Guide.

The decision to delist this contract was made due to the token merger of the FET token into ASI, scheduled for 13 Jun 2024.

The timeline for the delisting process will be as follows:

The contract will trade as normal until 04:00 UTC on 7 Jun 2024(“Tstart”).

At Tstart 04:00 UTC on 7 Jun 2024:

• The Funding Rate, F0,will be calculated as normal using prices from the previous eight  hours  
• After Tstart, the Funding Rate will no longer be calculated and the next Funding Rate set to 0
• The relevant Contract Specification pages will display early settlement information

At Tsettle 12:00 UTC on 7 Jun 2024:

• The relevant contracts will expire, all trading will cease, and all open orders will be canceled
• Funding, calculated using F0,will be exchanged (longs pay shorts if F0 > 0 and shorts pay longs if F0<0)
• All open positions in the relevant contracts will be closed out using the relevant Settlement Prices
• No fees will be charged for settlement
• Once a contract has expired, the lifetime profit and loss of that contract will be added to the user’s Bitcoin balance, and this contract will no longer appear on the Positions section

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In the meantime, if you have any questions please contact Support.  

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